Micromem Technologies Inc. (OTCPK:MMTI.F) announced a private placement of 5% debenture for CAD 190,863 and 1% unsecured convertible debentures by the company’s chief executive officer for gross proceeds of CAD 150,000 and 1% unsecured convertible debentures for gross proceeds of CAD 160,000 and 2,372,727 common shares at a price of CAD 0.11 per share for gross proceeds of CAD 261,000 on January 19, 2018. The 5% debentures are compounded daily, have a 12 month term and has the option to prepay within the first 6 months of the 12-month term. The 1% unsecured convertible debentures would mature in 6 months. At any time prior to repayment, the outstanding principal and interest of the convertible debenture may be converted at the option of the lender into common shares of the company at a price per common share of CAD 0.14.