Micromem Technologies Inc. (MMTIF): Micromem: CEO Converts Debenture and Pri...

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Monday, 07/24/2017 2:46:27 PM

Monday, July 24, 2017 2:46:27 PM

Micromem: CEO Converts Debenture and Private Placement Financings Complete

Toronto, Ontario and New York, New York--(Newsfile Corp. - July 24, 2017) - Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) ("Micromem") ("the Company") announces it has raised $25,000 CDN by way of a private placement at $0.21 CDN from an arm's length investor. These funds have been used for general working capital purposes.

The Company's CEO has also today completed a private placement for $27,800 CDN at a subscription price of $0.21 CDN for a total 132,381 shares issued. The shares issued are subject to resale restrictions under applicable securities laws.

In September 2016, the CEO advanced the Company a convertible unsecured debenture totaling $100,000 CDN. The CEO has today converted that debenture into equity also at $0.21 US resulting in the issuance of 379,476 common shares.

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