An anonymous director reports

MICROMEM CLOSES PRIVATE PLACEMENT

Micromem Technologies Inc. has closed its non-brokered private placement previously announced in its news release issued on May 30, 2025. Micromem raised gross proceeds of approximately $535,775 by placing a total of 8,929,583 units at a price of six cents per unit, each unit being comprising one common share and one warrant exercisable at seven cents per share for a period of three years following the issuance date. A total of 8,929,583 common shares and 8,929,583 warrants were issued in this private placement, will all securities being subject to a four-month hold period. No insiders participated in this private placement and all subscribers are at arm's length.

Micromem intends to use the net proceeds raised through the private placement for working capital. Closing of the private placement is subject to certain conditions, including compliance with postclosing requirements of the Canadian Securities Exchange (CSE).

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.

We seek Safe Harbor.