Company: MMTIF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001062993-25-003888
Chunk: 98

Company: MICROMEM TECHNOLOGIES INC
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 98
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.02%
Expected life (in years) of warrant 3 2
Expected dividend yield 0% 0%

The following table summarizes the warrants outstanding and exercisable as at October 31, 2024:

Expiry date Number if warrants Exercise price Remaining contractual life
──────────────────────────────────────────────────────────────────────────────────────────────────────
December 22,2025 63,000 $ 0.07 ($ 0.095 CAD) 1.14
July 18, 2027 184,000 $ 0.04 ($ 0.05 CAD) 2.71
247,000

F-22

Micromem Technologies Inc.

Notes to Consolidated Financial Statements

For the years ended October 31, 2024, 2023, and 2022

(Expressed in United States dollars, unless otherwise noted)

15. Stock options
(a)Stock option plan
Under the Company's fixed stock option plan (the "Plan"), the Company could grant up to27,500,000shares of common stock to directors, officers, employees or consultants of the Company and its subsidiaries. The exercise price of each option is equal to or greater than the market price of the Company's shares on the date of grant unless otherwise permitted by applicable securities regulations. An option's maximum term under the Plan is10 years. Stock options are fully vested upon issuance by the Company unless the Board of Directors stipulates otherwise by Directors' resolution.
(b)Summary of changes
Weighted average
Number of options exercise price
Outstanding at October 31, 2022 11,725,000 0.06
Granted 3,000,000 0.09
Expired ( 2,400,000 0.08
Exercised (i) ( 2,550,000 0.09
Outstanding at October 31, 2023 9,775,000 0.06
Expired ( 1,025,000 0.12
Outstanding at October 31, 2024 8,750,000 0.06
(i)During the year ended October 31, 2023, the Company issued a total of2,550,000common shares related to the exercise of stock options for gross proceeds of $214,140.
(c)Stock options outstanding at October 31, 2024
There wereniloptions issued to directors, officers, employees and consultants during the year ended