- Micromem Technologies (MRM) has closed a private placement for gross proceeds of $282,000
- The company issued 1,800,000 common shares and placed three convertible debentures
- Micromem Technologies develops sensors for numerous industries including energy, utilities, automotive, healthcare, information technology and manufacturing
- Micromem Technologies Inc. (MRM) is unchanged on the day, trading at C$0.055 per share at 3:45 pm ET
Micromem Technologies (MRM) has closed a private placement for gross proceeds of $282,000.
The company issued a total of 1,800,000 common shares at $0.05 per share raising gross proceeds of $90,000.
Micromem has also placed three convertible debentures raising gross proceeds of $192,000, with each debenture bearing an interest rate of 12 per cent per annum with a conversion option at $0.05 per share.
Proceeds will be used for general working capital.
All securities issued are subject to a four-month holding period.
Micromem Technologies designs sensors for oil & gas, utilities, automotive, healthcare, government, information technology, manufacturing and other industries.
Micromem Technologies Inc. (MRM) is unchanged on the day, trading at C$0.055 per share at 3:45 pm ET.