Update Toronto, Ontario and New York, New York--(Newsfile Corp. - February 2, 2021) - Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) ("Micromem") ("the Company") reports that Romgaz has advised the Company that the terms of the purchase order have been finalized. Romgaz and the Company are in the process of working out scheduling details for the joint work on the analytics solution.
Under the terms of the purchase order, Micromem will initially sell two (2) units to Romgaz. Micromem will work with Romgaz to develop the analytics solution and upon completion of a successful analytics formula Romgaz will then acquire 3,400 more units.
The financial terms and the roll out schedule will form part of another press release.
For further information please contact Joseph Fuda, CEO at info@micromeminc.com.
Romgaz (https://www.romgaz.ro/), "is the largest natural gas producer and the main supplier in Romania. It is a joint stock company whose majority shareholder is the Romanian State owning a 70% stake. The company is listed on Bucharest Stock Exchange(link is external) and GDRs are transacted on London Stock Exchange(link is external). The company has a vast experience in the field of gas exploration and production and a history that began in 1909 with the discovery of the first commercial gas reservoir in the Transylvanian Basin by drilling well Sarmasel."