Company also revises strike price, expiration of placement warrants
By Devika Patel
Knoxville, Tenn., Sept. 5 - Micromem Technologies Inc. announced that it has sold C$125,000 of 2% convertible debentures, which were issued on March 1, 2006.
The debentures may be converted into units of one common share and one warrant at C$0.40 per unit.
The company also extended 1,666,667 warrants by one year and amended the exercise price to C$0.19. These warrants were originally issued in a 2011 private placement.
Micromem, based in Toronto, is developing non-volatile magnetic memory technology.
| Issuer: | Micromem Technologies Inc.
|
| Issue: | Convertible debentures
|
| Amount: | C$125,000
|
| Coupon: | 2%
|
| Conversion price: | C$0.40
|
| Warrants: | One per unit upon conversion
|
| Settlement date: | Sept. 5
|
| Stock symbol: | CNSX: MRM
|
| Stock price: | C$0.18 at close Sept. 4
|
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