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FORM 6-K
Washington,
D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
April, 2008
Commission File Number 0-26005
MICROMEM TECHNOLOGIES INC.
777 Bay Street, Suite 1910, Toronto, ON M5G 2C8
[Indicate by checkmark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.]
Form 20-F
Q Form 40-F £[Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.]
Yes £ No Q
[If Yes is marked, indicate below the file number assigned to the registrant in connection with rule 12g3-2(b): N/A
This report on Form 6-K is hereby incorporated by reference in the registration statement on Form F-3 (Registration No. 333-134309) of Micromem Technologies Inc. and in the prospectus contained therein, and this report on Form 6-K shall be deemed a part of such registration statement from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished by Micromem Technologies Inc. under the Securities Act of 1933 or the Securities Exchange Act of 1934.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
MICROMEM TECHNOLOGIES INC. |
|
|
By: /s/ Joseph Fuda |
Date: April 24, 2008 | Name: Joseph Fuda |
|
Title: Chief Executive Officer |
Exhibit Index
Exhibit | |
Number | Exhibit Description |
Press Release Micromem projects revenue from early pilot orders for magnetic sensors in 2008 |
FOR IMMEDIATE RELEASE |
April 23, 2008 |
MICROMEM PROJECTS REVENUE FROM EARLY PILOT ORDERS FOR MAGNETIC SENSORS IN 2008
TORONTO, ONTARIO, April 23, 2008 Micromem Technologies Inc. [OTC BB: MMTIF] is pleased to announce that it is fully engaged and conducting business development work in two foundries in the United States. The company expects to enter into a third foundry contract by Q3 2008.
Joseph Fuda, the companys CEO, stated, "With our potential clients beginning to validate our technology and moving towards specific productization plans for their product lines, it is imperative that we continue to have full access to foundry operations. This will ensure the process of moving from constant innovation to product revenue is accelerated."
The company has begun manufacturing its magnetic sensors for potential commercial clients. This work is currently underway in the Global Communications Semiconductor (GCS) foundry in Torrence, California. The company expects to deliver the first packaged magnetic sensors for evaluation and characterization some time this summer and anticipates generating sales from these pilot projects. GCS performed exceptionally well in the early productization phase and the management will continue this partnership as it brings sensors and memory arrays to market.
With the productization process fully underway with its partners, Micromem has focused its attentio n to business development. Management is pursuing licensing revenue and direct revenue from sales and marketing channels for its memory and sensor devices. In a similar vein the company will begin to deliver MRAM memory arrays packaged for specific market place evaluation by Q3 2008.
Joseph Fuda states, "We are now actively responding to and submitting proposals for both commercial and government sectors for memory and sensor applications. The interest that we have seen for sensors has been incredible and we expect this to be a very exciting and profitable sector for our patented technology. It is important to note this initial project is for a potential client in the sensor market only and is independent of the companys memory initiatives."
For further information concerning the Micromem technology or to participate in future field trials please contact Jason Baun, Chief Information Officer 1-877-388-8930
Listing: NASD
OTC-Bulletin Board - Symbol: "MMTIF"
Shares issued: 77, 220, 575
SEC File No: 0-26005
About Micromem Technologies Inc.
Micromem Technologies Inc. (www.micromeminc.com) is focused on the development of magnetic random access memory (MRAM) technology and sensors.
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 Micromems 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 Micromems filings
with the Securities & Exchange Commission. There can be no guarantee that
Micromem will be able to enter into any commercial arrangements on terms that
are favorable to it, or at all. 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.