01:37 PM EDT, 05/30/2025 (MT Newswires) -- Micromem Technologies ( MMTIF ) on Friday said it plans to raise $0.38 million in a non-brokered private placement of share units

The company said it will look to place an undisclosed number of units priced at $0.06 and made up of a share and a three-year warrant to buy a second share for $0.07.

The private placement is subject to a 50% discretionary increase and final regulatory approvals.

The company plans to use the proceeds for working capital purposes and debt settlement.

Micromem ( MMTIF ) shares were last seen down $0.02 to $0.05 on the Canadian Securities Exchange.

Price: 0.05, Change: -0.02, Percent Change: -28.57