Micromem Technologies Inc. (OTCPK:MMTI.F) announced a private placement of 1% convertible debentures for gross proceeds of CAD 450,000 on January 23, 2017. The company will raise gross proceeds of CAD 400,000 at a price of CAD 0.31 and gross proceeds of CAD 50,000 at a price of CAD 0.25. The debenture carries a coupon of 1% and would mature in one year.