Micromem Technologies Inc.

Micromem Technologies Inc.

March 04, 2005 16:42 ET

Micromem Annual Filings


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MICROMEM TECHNOLOGIES INC.

OTC Bulletin Board SYMBOL: MMTIF

MARCH 4, 2005 - 16:42 ET

Micromem Annual Filings

TORONTO, ONTARIO--(CCNMatthews - March 4, 2005) - Micromem Technologies
Inc. (NASD OTCBB:MMTIF) is pleased to announce the filing of its audited
financial statements for the year ended October 31, 2004, together with
the Management's Discussion & Analysis, and the Company's Annual Report
on Form 20-F prepared in accordance with the United States Securities
Exchange Act of 1934, on SEDAR and EDGAR on Monday, February 28, 2005.
These documents may be viewed at www.sedar.com and by searching EDGAR at
http://www.sec.gov/.

About Micromem Technologies Inc.

Over the last five years, Micromem has been devoted to the development
of MRAM technology. Once the MRAM technology is fully developed,
Micromem intends to target various applications for the technology.
Radio Frequency Identification (RFID) tags will be Micromem's first
market objective. All MRAM development work is undertaken pursuant to
research collaboration agreements among Micromem, the University of
Toronto, Dr. Harry Ruda and OCE Inc., a not-for-profit corporation
supported through the Ontario Ministry of Economic Development and
Trade's (MEDT) Ontario Centres of Excellence program. Micromem holds the
first right to an exclusive, world-wide and perpetual sub-license for
the use of the technology.

Statements in this news release that are not historical facts, including
statements about plans and expectations regarding products and
opportunities, demand and acceptance of new or existing products,
capital resources and future financial results are forward-looking.
Forward-looking statements involve risks and uncertainties, which may
cause Micromem's actual results in future periods to differ materially
from those expressed or suggested herein. These uncertainties and risks
include, without limitation, the inherent uncertainty of research,
product development and commercialization, the impact of competitive
products and patents, our ability to fund our current and future
business strategies and respond to the effect of economic and business
conditions generally as well as other risks and uncertainties detailed
from time to time in Micromen's filings with the Securities & Exchange
Commission. For more information, please refer to Micromem's Annual
Report on Form 20-F and its Form 6-Ks as filed with the U.S. Securities
and Exchange Commission. Micromem is under no obligation (and expressly
disclaims any obligation) to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise.

Shares issued: 59,291,771 (as of March 1, 2005)

SEC File No: 0-26005

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Micromem Technologies Inc.
    Jason Baun
    1 (877) 388-8930
    or
    Schwartz Public Relations
    Steven Wright-Mark
    Press Contact
    (212) 677-8700 ext. 29
    steven@schwartzpr.com