Micromem Technologies Inc.: Update ***Micromem Technologies Inc • September 9th, 2014 • Services-computer programming services
Toronto, New York, September 9, 2014: Micromem Technologies Inc.’s (the “Company”) (CSE: MRM, OTCBB: MMTIF) wholly owned subsidiary, Micromem Applied Sensor Technologies Inc. (MAST), has executed an agreement with a US based, Tier 1 Original Equipment Manufacturer to commercialize MAST’s Lab on a Chip for oil pan plugs. Under the agreement MAST will grant an exclusive licence to the Tier 1 in exchange for a Royalty. The Tier 1 will take on the responsibility to manufacture and distribute the finished product. MAST and the Tier 1 are currently reviewing mutually acceptable language for a Press Release.
