Company: MMTIF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001062993-25-003888
Chunk: 93

Company: MICROMEM TECHNOLOGIES INC
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 93
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0.06  
                                                           ($ 0.08 CAD)       ($ 0.08 CAD)            ($ 0.08 CAD)            ($ 0.08 CAD)  
  Exercise price                                                 $ 0.04             $ 0.04                  $ 0.04                  $ 0.04  
                                                           ($ 0.05 CAD)       ($ 0.05 CAD)            ($ 0.05 CAD)            ($ 0.05 CAD)  
  Volatility factor (based on historical volatility)               156%               156%                    154%                    155%  
  Risk free interest rate                                         3.09%              3.09%                   3.09%                   3.09%  
  Expected life (in years) of warrant                                 3                  3                       3                       3  
  Expected dividend yield                                            0%                 0%                      0%                      0%  

The following summarizes the warrants and broker warrants activity for the year ended October 31, 2024:

                                                              Number of       Grant date Fair      Fair value as at      Weighted average  
                                                              warrants        value                year end              exercise price    
  Outstanding at October 31, 2022 and 2023                    -               -                    -                     -                 
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Issued in a private placement (note 13 (b) (iv - vii))      20,762,220      192,300              1,021,991             0.04              
  Issued for debt settlement (note 13 (b) (vii))              1,333,333       69,304               66,006                0.04              
  Outstanding at October 31, 2024                             22,095,553      261,604              1,087,997             0.04              

During the year ended October 31, 2024, the Company allocated cash share issuance costs totalling $13,326to the warrants issued, which were included in other finance expenses in the statement of operations and comprehensive loss. See note 13.

F-20

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