Mining & Metals
Micromem Technologies Announces Proposed Private Placement
Micromem Technologies (MRM.CN) announced after markets closed on Tuesday the intention to proceed with a non-brokered private placement by placing common share units at a price of C$0.025 each for a total of up to C$250,000, subject to a 50% discretionary increase.Each unit is made up of one common share and one warrant exercisable at C$0.05 per share for a period of two years.The company plans to use the proceeds for working capital purposes and debt settlement.The private placement remains subject to final regulatory approvals.
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