Micromem Announces Proposed Private Placement

Toronto, Ontario and New York, New York--(Newsfile Corp. - September 4, 2026) - Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) (" Micromem " or the " Company ") announces the intention to proceed with a non-brokered private placement (the " Private Placement ") by placing common share units at a price of CAD $0.025 per unit (a " Unit ") for a total of up to CAD $160,000, subject to a 50% discretionary increase. Each Unit is comprised of one common share and one warrant exercisable at CAD $0.05 per share for a period of three years. Micromem intends to use the proceeds raised through the Private Placement for working capital purposes and debt settlement. All securities to be issued pursuant to the Private Placement will be subject to a four-month hold period. The Private Placement remains subject to final regulatory approvals. The securities described herein have not been, and will not be, registered under the U.S. Securities Act of 1933 or any state securities laws, and accordingly, may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in compliance with the registration requirements of the U.S. Securities Act of 1993 and applicable state securities laws or pursuant to exemptions there from. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction. About Micromem. Micromem Technologies Inc. and its subsidiaries, a publicly traded (OTCQB: MMTIF) (CSE: MRM) company analyzes 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 & gas, utilities, automotive, healthcare, government, information technology, manufacturing and other industries. Visit www.micromeminc.com .