Replies to post #1142 on Micromem Technologies Inc. (MMTIF)

[seek the light]

How did this happen? Now able to raise money by issuing non-convertible, unsecured debentures for 12 month period. HMMM!!! That is indeed interesting ,isn't it?

[seek the light]

Now i am confused. Just found this PR from 1/21?19 and i am wondering which is correct?

OK which is it? Are they convertible or not?

FOR IMMEDIATE RELEASE January 21, 2019
Micromem Financing Update
Toronto, New York, January 21, 2019: Micromem Technologies Inc. (“Micromem”) (“the Company”)
(CSE: MRM, OTCQB: MMTIF) announces the closing of non-brokered private placement totaling $21,000
USD at $0.0.06 USD per common share. The proceeds are committed to general working capital and repaying
debentures. The common shares issued pursuant to the Private Placement shall be subject to restrictions.
The Company completed debentures totaling $52,000 USD, $32,500 USD and $102,500 USD bearing an
interest rate of ten percent (10%) per annum compounded daily, and a debenture totaling $90,000 USD
bearing an interest rate of twelve percent (12%) per annum compounded daily, all with an option to repay
the debentures within the first 6 months of the 12-month term. At any time prior to repayment, the
outstanding principal and interest of the convertible debenture may be converted, at the option of the lender,
into common shares of the Company