An anonymous director reports

MICROMEM ANNOUNCES COLLABORATION WITH THE UNIVERSITY OF TORONTO, DRDC AND NSERC ON BIOCHEMICAL WEAPONS DETECTION TECHNOLOGY

Micromem Technologies Inc. has collaborated with the University of Toronto, Defense Research and Development Canada (DRDC), and the Natural Sciences and Engineering Research Council of Canada (NSERC). The primary objectives and goals of this collaboration are to develop cutting-edge technology for military and industrial applications, specifically in the field of state-of-the-art biochemical sensors. This program was initiated in 2023 at the University of Toronto and has, to date, made significant strides in advancing the technology. NSERC is providing a portion of the funding for the project.

Micromem will have an exclusive worldwide licence to the intellectual property and any patents created through the project, which is expected to have application for both military and commercial use. Notable progress to date includes the development of artificial intelligence and machine learning capabilities.

Micromem engaged the University of Toronto to help develop the white paper report that Micromem recently delivered to Chevron, as previously announced. Micromem will be working on this project, with the same team at the University of Toronto, led by doctor Harry Ruda.

This initiative represents a significant new opportunity for Micromem, in addition to the company's current initiatives. It expands its technological capabilities and provides new opportunities in military and in commercial sectors for the detection of environmental contaminants.

Dr. Ruda comments on the participation of Micromem as follows, "Having worked with Micromem previously, we are pleased to welcome Micromem as a key partner in this project and look forward to the team developing and commercializing new sensing technologies."

About Micromem Technologies Inc.

Micromem Technologies and its subsidiaries analyze specific industry sectors to create intelligent game-changing applications that address unmet market needs. By leveraging its expertise and experience with sophisticated sensor applications, the company successfully powers the development and implementation of innovative solutions for oil and gas, utilities, automotive, health care, government, information technology, manufacturing, and other industries.

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