Micromem Technologies (OTCQB:MMTIF) Monday announced the intention to proceed with a non-brokered private placement by issuing common share units comprised of one share and one warrant, each share priced at $0.03 per share and each warrant exercisable at $0.05 for a period of three years. The gross proceeds to be raised in this private placement would be up to C$250,000 provided that the company may decide in its sole discretion to increase the size of the offering by up to 50%. Micromem Technologies (OTCQB:MMTIF) intends to use the proceeds for working capital purposes. Source: Press Release