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Micromem Techs Inc (MMTIF) is a company that analyzes specific industry sectors to create intelligent game-changing applications that address unmet market needs. Leveraging expertise in sophisticated sensor applications, they develop innovative solutions for oil & gas, utilities, automotive, healthcare, government, IT, manufacturing, and more. Recently, Micromem received installment payments for the initial sale of their ARTRA units for a project in Romania. The company is also in discussions with Chevron to update their Joint Development Agreement and license Chevron's tracer technology. Micromem is focused on advancing technology, improving partnerships, and driving growth in various industries.
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Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) provides an update on ongoing discussions with Chevron regarding automated tracer technology. A joint development agreement will be executed in Q1 2024, replacing the original 2014 agreement. Chevron will also prepare a license agreement for Micromem to access its patent. A group call to discuss the tracer technology plan for Romgaz is anticipated in Q1 2024, involving representatives from Micromem, Entanglement Technologies, Chevron, Romgaz, and the University of Ploiesti.
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Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) announces a non-brokered private placement to raise up to CDN$150,000 for working capital, with the option to increase the offering by up to 50%. The company will issue common shares at CDN$0.06 per share and/or convertible debentures at an interest rate of 12% per annum compounded daily, with a conversion option at CDN$0.07 per share and maturing in 12 months. The proceeds will be used for working capital, including paying outstanding debt. The company will no longer proceed with the financing announced in the news release issued on November 7, 2023.
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Micromem receives first installment payment for sale of ARTRA units in Romania
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Micromem Technologies Inc. provides an update on their ongoing discussions with Chevron regarding automated tracer technology. The collaboration with Chevron is expected to enhance and accelerate the development of a real-time data gathering device with comprehensive analytics. This technology has the potential to be deployed with other energy companies in North America, Europe, and the Middle East.
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Micromem Technologies Inc. has received detailed specifications for an ARTRA natural gas unit to be delivered to Romania. The unit will be built in California and will be used for testing and assessing viability for widespread adoption in operating gas wells. The company expects to receive a purchase order for this unit in the next few weeks.
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FAQ
What is the current stock price of MICROMEM TECHS (MMTIF)?
The current stock price of MICROMEM TECHS (MMTIF) is $0.0349 as of November 22, 2024.
What is the market cap of MICROMEM TECHS (MMTIF)?
The market cap of MICROMEM TECHS (MMTIF) is approximately 22.9M.
What does Micromem Techs Inc do?
Micromem analyzes industry sectors to develop innovative applications for oil & gas, utilities, automotive, healthcare, government, IT, and manufacturing.
What recent achievements has Micromem Techs Inc had?
Micromem received an installment payment for the initial sale of ARTRA units for a project in Romania and is in discussions with Chevron to update their Joint Development Agreement.
What partnerships does Micromem Techs Inc have?
Micromem works with Entanglement Technologies and is in discussions with Chevron to collaborate on automated tracer technology.
What is Micromem Techs Inc's financial condition?
Micromem received a significant payment for ARTRA units and is proceeding with a non-brokered private placement to raise capital for working capital and debt repayment.
What industries does Micromem Techs Inc serve?
Micromem provides solutions for oil & gas, utilities, automotive, healthcare, government, IT, and manufacturing sectors.
MICROMEM TECHS INC