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, including Unotron, Life Medical Technologies, Inc., and BAE Systems.

Company provides update on previously announced partnership and shifts to Phase Two