Technology Blog

TORONTO and NEW YORK, July 16 /PRNewswire-FirstCall/ - Micromem Technologies Inc., (Micromem, the "Company") (OTC BB: MMTIF, CNSX: MRM) and its wholly-owned subsidiary, Micromem Applied Sensor Technologies, Inc. (MAST) (www.mastinc.com), provide the following update on executed manufacturing and supply agreements and other business initiatives that were outlined and discussed in our March, 2010 press release. 1. The Company has delivered all material required to complete the final phase of the Unotron Incorporated certification testing. The certification process and timetable is managed by the licensing authorities. Once completed, the Company will be positioned to sell these certified units under the terms of the agreement previously struck with its contracted customer. 2. Management continues to negotiate a business development agreement with BAE. A further update to the shareholders is subject to a mutually agreed upon press release by the two companies. 3. Micromem has filed a submission to obtain FDA 510