Micromem Technologies is pleased to announce that it has raised approximately $505,000 by way of arms length and non-arms length private placements at $0.45 per share. The shares issued will be subject to Rule 144. This private placement was subscribed for on October 9, 2007 and was further ratified by the Board of Directors meeting held on Thursday, October 11, 2007. In addition to advancing Micromemâs technology with Global Communications Semiconductor, Inc., these funds are being used to retire the previously announced bridge loan.
Posted: Oct 23,2007 by Ron Mertens