Micromem Technologies : Update – Form 6-K

Micromem Update

Toronto, Ontario and New York, New York, December 28, 2022 – Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) (“Micromem”) (“the Corporation”). The Business has experienced a hectic yr in its ongoing functions. The COVID-19 pandemic delayed a great deal of Micromem’s programs and progress with its associates in the course of 2022. As the COVID-19 problem abated throughout the 2nd 50 percent of the yr, the Firm has interacted with its partners to shift its joint initiatives and projects forward as promptly as achievable.

Micromem employed inhouse engineering resources to evaluation and develop its technological innovation and throughout the world knowledge foundation the group was specially efficient in getting ready an engineering research for Micromem’s submissions to Romgaz, Transelectrica (the state-controlled electrical power transmission system operator in Romania) and the College of Ploiesti. The opportunity has progressed into a approach to provide both equally hardware and software analytics options not restricted to, but to each Romgaz and Transelectrica.

The Company’s engineering staff submitted an engineering report to reps of Transelectrica as component of its overview of the latest condition of their components with each other with commentary on needs to update the hardware and to build analytics that would present genuine time details. In November 2022, the Organization provided its rollout strategy to representatives of Transelectrica, such as the timetable and the periodic milestones, this program is to form part of the Joint Undertaking. The opportunity derived from this added get the job done is the analytics enhancement that will supply Micromem with recurring earnings which would be in addition to the first hardware income.

Micromem’s engineering staff has also reviewed and assessed the Firm’s existing patents and historic solution enhancement initiatives – in certain, the RT/Lube Analyzer, the Power Line Monitoring technological know-how, and Transformer Partial Discharge technological innovation. It is envisioned that these foundation technologies, which would be suitably up to date, upgraded, and customized, will be released to Micromem’s current associates and to new clients. This facts will variety portion of a separate press launch.

A Chevron precise update will be presented as a different press launch.

About Micromem.

Micromem Technologies Inc. and its subsidiaries, a publicly traded (OTC QB: MMTIF, CSE: MRM), business analyzes precise market sectors to develop smart video game-changing apps that handle unmet marketplace demands. By leveraging its knowledge and practical experience with innovative sensor programs, the Business efficiently powers the enhancement and implementation of modern options for oil & gas, utilities, automotive, health care, government, data know-how, manufacturing and other industries. Stop by www.micromeminc.com.

Secure Harbor Assertion

This push launch contains ahead-hunting statements. This sort of ahead-searching statements are matter to a quantity of dangers, assumptions and uncertainties that could bring about the Firm’s real outcomes to vary materially from these projected in these kinds of ahead-wanting statements. In individual, components that could bring about true success to differ materially from individuals in ahead looking statements consist of: our incapability to receive supplemental funding on appropriate terms possibility that our products and expert services will not obtain widespread industry acceptance continued consumer adoption of digital engineering lack of ability to compete with other individuals who deliver comparable products and solutions the failure of our technologies the infringement of our technology with proprietary rights of 3rd get-togethers incapacity to respond to shopper and technological calls for inability to swap considerable shoppers seasonal nature of our business and other challenges thorough in our filings with the Securities and Exchange Fee. Forward-on the lookout statements converse only as of the day made and are not assures of future overall performance. We undertake no obligation to publicly update or revise any forward-seeking statements. When applied in this document, the phrases “believe,” “assume,” “foresee,” “estimate,” “challenge,” “system,” “ought to,” “intend,” “may,” “will,” “would,” “potential,” and related expressions could be employed to recognize forward-on the lookout statements.

The CSE or any other securities regulatory authority has not reviewed and does not accept obligation for the adequacy or precision of this press release that has been organized by administration.


Listing: NASD OTC-QB – Symbol: MMTIF

CSE – Symbol: MRM

Shares issued 467,607,678

SEC File No: -26005

Investor Make contact with: [email protected] Tel. 416-364-2023 Subscribe to obtain News Releases by E-mail on our website’s property site. www.micromeminc.com