An anonymous director reports

MICROMEM RECEIVED PURCHASE ORDER

Micromem Technologies Inc. has received a purchase order for the delivery of an ARTRA oil unit for delivery to Romania. This purchase order is separate from the order expected for the gas well project. The oil unit is similar in configuration and operation to the unit Micromem delivered to Chevron that was successfully tested in 2019-2020. With global supply chain constraints, Micromem's expected delivery of the unit is 12-15 weeks, with evaluation to take an additional 2-3 weeks. When the initial unit is shipped to Romania, Micromem will begin reporting product sales.

Once the initial ARTRA oil unit is certified by our client in Romania, the go forward project will be to create an interconnected "smart well" system. This existing version of this unit will then be further developed with new performance and analytics functionality. Our client operates approximately 4,000 oil wells in Romania; there is a total of approximately 14,000 producing oil wells in the country.

Micromem is enthusiastic about the opportunity to work with its partners in Romania and the project management team referenced in our news release on June 5th.

About Micromem.Micromem Technologies Inc. and its subsidiaries, a publicly traded (OTCQB: MMTIF) (CSE: MRM), company analyzes specific industry sectors to create intelligent game-changing applications that address unmet market needs. By leveraging its expertise and experience with sophisticated sensor applications, the Company successfully powers the development and implementation of innovative solutions for oil & gas, utilities, automotive, healthcare, government, information technology, manufacturing and other industries. Visit www.micromeminc.com.

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