Toronto, New York--(Newsfile Corp. - February 10, 2014) - Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) (the "Company") announces the Company has entered a Consulting Agreement with Brian Von Herzen, Ph.D. The terms of the agreement include the issuance of 300,000 options to purchase common shares of the Company (the "Options"). In addition, 50,000 options have been granted to an employee of the Company. These Options are in accordance with the 2007 Micromem Technologies Inc. Stock Option Plan, as amended on one or more occasions and have been issued at a strike price of $0.85 USD.
About Micromem and MASTInc
MASTInc is a wholly owned
U.S.-based subsidiary of Micromem Technologies Inc., a publicly traded (OTCQB:
MMTIF, CSE: MRM) company. MASTInc analyzes the specific industry sectors to
create intelligent game-changing applications that address unmet market needs.
By leveraging its expertise and experience with sophisticated magnetic sensor
applications, MASTInc successfully powers the development and implementation of
innovative solutions for healthcare/biomedical, natural resource exploration,
government, information technology, manufacturing, and other industries. Visit
www.micromeminc.com www.mastinc.com.
Safe Harbor Statement
This press release contains
forward-looking statements. Such forward-looking statements are subject to a
number of risks, assumptions and uncertainties that could cause the Company's
actual results to differ materially from those projected in such forward-looking
statements. In particular, factors that could cause actual results to differ
materially from those in forward looking statements include: our inability to
obtain additional financing on acceptable terms; risk that our products and
services will not gain widespread market acceptance; continued consumer adoption
of digital technology; inability to compete with others who provide comparable
products; the failure of our technology; the infringement of our technology with
proprietary rights of third parties; inability to respond to consumer and
technological demands; inability to replace significant customers; seasonal
nature of our business; and other risks detailed in our filings with the
Securities and Exchange Commission. Forward-looking statements speak only as of
the date made and are not guarantees of future performance. We undertake no
obligation to publicly update or revise any forward-looking statements. When
used in this document, the words "believe," "expect," "anticipate," "estimate,"
"project," "plan," "should," "intend," "may," "will," "would," "potential," and
similar expressions may be used to identify forward-looking statements.
The CNSX or any other securities regulatory authority has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release that has been prepared by management.
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Listing: NASD OTC-Bulletin Board - Symbol: MMTIF
CSE - Symbol: MRM
Shares issued: 167,334,150
SEC File No: 0-26005
Investor Contact: info@micromeminc.com; Tel. 416-364-2023
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