Micromem Technologies Inc. Announces Non-brokered Private Placement
Toronto, Ontario and New York, New York— Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) (“Micromem” or the “Company”) announces the intention to proceed with a non-brokered private placement (the “Private Placement”) by issuing common share units comprised of one share and one warrant, each share priced at $0.03 per share and each warrant exercisable at $0.05 for a period of three years. The gross proceeds to be raised in this Private Placement would be up to CDN$250,000 provided that the Company may decide in its sole discretion to increase the size of the offering by up to 50%.
Educated Decision
Micromem Technologies Inc. has made a calculated decision to proceed with a non-brokered private placement in order to raise capital for its operations. By issuing common share units at a low price of $0.03 per share, the Company aims to attract investors and raise up to CDN$250,000, with the possibility of increasing the offering size by up to 50%.
Profit Focus
This move demonstrates Micromem’s focus on profitability and strategic growth. The decision to issue shares and warrants at a discounted price shows the Company’s commitment to maximizing returns for its shareholders.
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Conclusion
In conclusion, Micromem Technologies Inc.’s decision to proceed with a non-brokered private placement reflects the Company’s commitment to growth and profitability. This strategic move aims to raise capital for operations and maximize returns for shareholders, demonstrating Micromem’s focus on long-term success in the industry.
