Micromem Technologies Inc. (OTC BB: MMTIF) is pleased to announce that it has raised $400,000 by way of arms length private placements ranging from $0.45-$0.48 per share. The shares issued will be subject to Rule 144. These funds are in addition to the previously announced financing dated October 18, 2007. These funds will be used to further the company's effort to commercialize its patented MRAM technology for a wide variety of uses beyond RFID applications. No commission was paid on this financing.
With respect to the company's previously announced financing efforts, management will continue to pursue this opportunity.
Posted: Nov 06,2007 by Ron Mertens