TORONTO, Nov. 21 /CNW/ - Micromem Technologies Inc. [OTC BB: MMTIF]
Micromem is pleased to announce the appointment of Steven Van Fleet as the
Head of Project Development at Micromem. His role includes overseeing the
completion of the foundry work and interfacing with those companies that have
expressed interest in moving forward on Micromem's technology.
Micromem has entered a new phase of development and commercialization and
in doing so the Company has determined its personnel requirements on a go
forward basis. With Micromem moving from research towards commercialization,
the Company has terminated the employment agreement previously signed with Dr.
Cynthia Kuper on a without cause basis with the required 4 month notice now
Listing: NASD OTC-Bulletin Board - Symbol: "MMTIF"
Shares issued: 73,254,501
SEC File No: 0-26005
About Micromem Technologies Inc.
Micromem Technologies, Inc. (www.micromeminc.com) is focused on the
development of magnetic random access memory (MRAM) technology.
Statements in this news release that are not historical facts, including
statements about plans and expectations regarding products and opportunities,
demand and acceptance of new or existing products, capital resources and
future financial results are forward-looking. Forward-looking statements
involve risks and uncertainties, which may cause Micromem's actual results in
future periods to differ materially from those expressed or suggested herein.
These uncertainties and risks include, without limitation, the inherent
uncertainty of research, product development and commercialization, the impact
of competitive products and patents, our ability to fund our current and
future business strategies and respond to the effect of economic and business
conditions generally as well as other risks and uncertainties detailed from
time to time in Micromem's filings with the Securities & Exchange Commission.
There can be no guarantee that Micromem will be able to enter into any
commercial arrangements on terms that are favorable to it, or at all. For more
information, please refer to Micromem's Annual Report on Form 20-F and its
Form 6-Ks as filed with the U.S. Securities and Exchange Commission. Micromem
is under no obligation (and expressly disclaims any obligation) to update or
revise any forward-looking statements whether as a result of new information,
future events or otherwise.
For further information:
For further information: Jason Baun, Chief Information Officer,