An anonymous director reports

MICROMEM RECEIVES SECOND PURCHASE ORDER

Micromem Technologies Inc. has received a second purchase order for an ARTRA unit for delivery to Romania. This build is the first order for a unit for use in the natural gas industry and follows the order previously announced on July 5 for the oil well project. This additional purchase order expands the market opportunities for Micromem with the company's Romanian partners. With continuing global supply chain constraints, Micromem's expected delivery of this unit is 16 to 18 weeks, with evaluation to take an additional four to six weeks. When the initial unit is shipped to Romania, Micromem will report revenues from this product sale. This unit will be built by the company's California-based contractor/partner, Entanglement Technologies.

Once this unit is certified by the company's client in Romania, the go-forward project will be to create an interconnected "smart gas well" system. This version of the unit will then be further developed with new performance and analytics functionality, it is expected that the analytics for this application will be ready for installation once this unit arrives. The company's client operates approximately 3,000 gas wells in Romania; there is a total of approximately 10,000 producing gas wells in the country.

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

About Micromem Technologies Inc.

Micromem Technologies and its subsidiaries analyze specific industry sectors to create intelligent gamechanging 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 and gas, utilities, automotive, health care, government, information technology, manufacturing, and other industries.

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