UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
March, 2015
Commission File Number 0-26005
MICROMEM TECHNOLOGIES INC.
121 Richmond Street West, Suite 304, Toronto, ON M5H 2K1
[Indicate by checkmark whether the registrant files or will
file annual reports under cover Form 20-F or Form 40-F.]
Form 20-F [X]
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 [X]
[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the date on which this report is filed, to the extent not superseded by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.
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MICROMEM TECHNOLOGIES INC. |
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By:
/s/ Joseph Fuda |
| Date: March 5, 2015 |
Name: Joseph Fuda |
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Title: Chief Executive Officer |
Exhibit Index
| FOR IMMEDIATE RELEASE |
March 5, 2015 |
American Oil Company awards Micromem second development
contract
Toronto, New York, March 5, 2015: Micromem Technologies
Inc. (“Micromem”) (“the Company”) (CSE: MRM, OTCQX: MMTIF) through its wholly
owned subsidiary Micromem Applied Sensor Technologies Inc. (MAST), is pleased to
announce that the Company has been awarded a second Joint Product Development
Agreement “JPDA” by the American based Oil company (“Oil Co.”), the agreement is
valued at US $9,200,000. Under the terms of the Agreement the Oil Co. and
Micromem will design, build and demonstrate a cement integrity sensor prototype
for use in cement pumped down oil well boreholes to depths of 15,000 feet. The
sensor will be mixed into the wet cement and form part of the structure. The
Company expects to deliver the first prototype by June 2015. Under the
agreement, once deployment begins Micromem will also benefit from
royalty/license based income.
The sensor will measure temperature, moisture, stress levels
and listen for the presence of flow in micro fractures to advise the operator in
real time, of the condition of the cement surrounding the casing of an oil well.
These sensors will remain useful for monitoring the conditions of the cement
over the lifetime of the structure. The clients’ objective will be to deploy
these sensors in their oil wells globally. For oil companies to be able to
detect and analyze issues well in advance of fractures developing has many
advantages to predict and prevent dangerous spills from failing cement. The
system will be connected wirelessly throughout the well network and will in
essence make oil wells “smart”. This new technology will create a new paradigm
when it comes to smart, integrated systems and building a smart infrastructure.
The current estimate of the total number of producing oil and gas wells around
the globe that could benefit from this technology is 950,000 with more than
530,000 of them located in the United States.
This technology encompasses systems and methods for detecting
and/or monitoring the integrity and condition of cement structures including,
for example, highways, bridges, buildings, and wellbores using
Nano-Electro-Mechanical System (NEMS) based and/or Micro-Electro-Mechanical
System (MEMS) based data sensors.
Micromem will maintain the rights for use of this technology in
non-oil well applications including but not limited to the construction
industry, road, bridge and other applications where cement is being used. The
sensors will be mixed into the wet cement and poured into whichever form is
required. The sensors will operate by scavenging power from the surrounding area
and “pinged” by a wireless communication system as required to report the
condition of the cement. The benefits of making cement smart in an industry
where safety and quality of construction are paramount makes this technology a
giant leap in the direction of smart infrastructure systems. An early warning
system that can be connected wirelessly to central stations located anywhere in
the world that will alert the operator to developing problems before they become
a problem will save the industry time and money and help to protect the
environment from dangerous and damaging oil leaks. Plus when being used in
structures such as buildings, parking structures and bridges the ability to
monitor the integrity of the cement will mean added safety in structures used by
the population at large.
This is another example of how Micromem is building the
Internet of Things by making infrastructure smart and deploying these
technologies with global partners.
Steven Van Fleet says “Avoiding disasters that occurred in the
Gulf of Mexico is critical to the environmental sustainability of the planet and
the future of oil and gas exploration. Ensuring integrity of the poured well
bore is also a big step in mitigating environmental roadblocks to fracking. The
embedded sensors, as the cement is pumped into the well, will act as an
augmented well cementing engineer, with real-time location awareness. As soon as
the cement integrity sensor is in place, you know what information it is going
to provide you at the surface. This is knowledge that you normally first have to
complete the well and test via antiquated log methods. Our application is about
eliminating slack time and worry.”
Joseph Fuda says “Our client has reviewed several proposals to
deal with this important problem and selected our technology as the best
candidate for success in solving this critical issue. We have built a strong
relationship with this client by delivering on our previous project commitments
and demonstrating the ability to solve their problems.”
About Micromem and MASTInc
MASTInc is a wholly owned U.S.-based subsidiary of Micromem
Technologies Inc., a publicly traded (OTC QX: MMTIF, CSE: MRM) company. MASTInc
analyzes the specific industry sectors to create intelligent game-changing
applications that address unmet market needs. By leveraging its expertise and
experience with sophisticated magnetic sensor applications, MASTInc successfully
powers the development and implementation of innovative solutions for
healthcare/biomedical, natural resource exploration, government, information
technology, manufacturing, and other industries. Visit www.micromeminc.comwww.mastinc.com.
Safe Harbor Statement
This press release contains forward-looking statements. Such
forward-looking statements are subject to a number of risks, assumptions and
uncertainties that could cause the Company’s actual results to differ materially
from those projected in such forward-looking statements. In particular, factors
that could cause actual results to differ materially from those in forward
looking statements include: our inability to obtain additional financing on
acceptable terms; risk that our products and services will not gain widespread
market acceptance; continued consumer adoption of digital technology; inability
to compete with others who provide comparable products; the failure of our
technology; the infringement of our technology with proprietary rights of third
parties; inability to respond to consumer and technological demands; inability
to replace significant customers; seasonal nature of our business; and other
risks detailed in our filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date made and are not guarantees
of future performance. We undertake no obligation to publicly update or revise
any forward-looking statements. When used in this document, the words “believe,”
“expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,”
“may,” “will,” “would,” “potential,” and similar expressions may be used to
identify forward-looking statements.
The CSE or any other securities regulatory authority has not
reviewed and does not accept responsibility for the adequacy or accuracy of this
press release that has been prepared by management.
Listing: NASD OTCQX-Bulletin Board -
Symbol: MMTIF
CSE - Symbol: MRM
Shares issued: 191,425,600
SEC File No: 0-26005
Investor Contact: info@micromeminc.com; Tel. 416-364-2023
Subscribe to receive News Releases by Email on our website’s home page.
www.micromeminc.com
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