Micromem Technologies Inc. - Shareholder Update

    TORONTO, Nov. 14 /CNW/ - Micromem Technologies Inc. (OTC BB: MMTIF) is
pleased to provide the shareholders with an update on its recent progress.
    Micromem has successfully transitioned from a long research and
development period at the University of Toronto into a production GaAs
foundry. In late summer Micromem hired Strategic Solutions, a California
company to design and implement our MRAM technology. Strategic Solutions is an
engineering company that specializes in developing new technology, wafer
services, technology evaluations, special engineering projects and short run
wafer standard business. Strategic Solutions orchestrated a knowledge transfer
of the work that Dr. Harry Ruda and his team completed at the University of
Toronto. Strategic Solutions created a Reticle Design and an extensive Test
Plan document used to communicate our manufacturing requirements to a target
GaAs foundry.
    Micromem selected Global Communication Semiconductors, Inc (GCS) as our
partner foundry in late September. GCS, based in Torrance, California, an ISO
9001-2000 certified company, provides compound semiconductor foundry services
to the RF wireless communication, telecommunication and high-speed networking,
optoelectronics and photonics industries. GCS currently offers a broad
portfolio of advanced RF processes (InGaP HBT, PHEMT, IPD and SAW), and
various optoelectronics processes for products such as GaAs and InGaAs PIN PD
and imaging array, APD, VCSEL, Laser, modulator, QWIP and LED. Additional
information can be found at www.gcsincorp.com.
    Our MRAM design went into the foundry on September 17, 2007. The purpose
of this Phase One foundry contract is to establish the manufacturability of
our MRAM design. Our manufacturing design of experiment and Reticle Design
includes thousands of MRAM bit cells in various configurations. These
configurations include feature size, magnetic deposition techniques, magnet
material, magnetic yoke configuration and placement, number of turns on the
magnet, hall cross sensor geometry etc. These tests are all to determine the
optimum configuration for memory performance and foundry manufacturing costs.
    We will complete the Phase One foundry work in late January 2008. At that
time we will have manufactured working multi bit MRAM cells. We will be in a
position to take the next step which is to design and manufacture our memory
as part of one of our potential client's application. Our potential clients
have been invaluable in guiding us in how to configure our memory for their
    The foundry work is ahead of schedule. We are pleased to report that the
magnetics and hall cross sensor data from manufactured devices is performing
as predicted from the University of Toronto models. We are currently
assembling complete MRAM memory cells and testing will be completed prior to
December 25, 2007.

    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,

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