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FINWIRES

Micromem Technologies Plans to Raise up to CA$160,000 Via Non-Brokered Private Placement

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Micromem Technologies (MRM.CN) plans to proceed with a non-brokered private placement for a total of up to CA$160,000, subject to a 50% discretionary increase, it said Friday.

The company plans to place share units at a price of CA$0.025 each, it said. Each unit will be made up of a share and a three-year warrant exercisable at CA$0.05 per share, it added.

The company plans to use the proceeds for working capital purposes and debt settlement, said Micromem.

The offering remains subject to final regulatory approvals, it added.

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