News item today about Magram 8 bit chips. I wonder what they mean by "manufacturing" since Universities do not normally do such. And, 8 bit chips are not likely to have much application.
Micromem Technologies Inc. -- University of Utah to Commence Manufacturing Process
TORONTO--(BUSINESS WIRE)--June 14, 1999--Micromem Technologies Inc. ("Micromem")(MMTI\OTC BB) -- Dr. Laurence Sadwick, director of the University of Utah Magram(TM) development team in Salt Lake City has announced that his team expects to begin the manufacturing process of 8-bit samples next week. Pageant anticipates that samples will be made available to interested third parties for valuation purposes in July.
The nonvolatile Magram(TM) digital memory demonstrates write and read access speeds as fast as five (5) nanoseconds. This is approximately ten to twelve times faster than access times of the popular DRAM, arguably the fastest current dense digital memory device, excluding bulky SRAMs, used for random access memory applications. DRAMs are found in virtually all modern computers, including PCs, as well as in other applications where digital memory is required. Unlike DRAM, Magram(TM) memories are not only nonvolatile, but do not require refresh. Combined with this faster access speed, computers and other systems using Magram(TM) digital memories could operate many times faster than currently possible. This means that general productivity can rise, and such activities as internet access would be much faster.
Micromem's wholly-owned subsidiary, Pageant Technologies Inc.
("Pageant"), holds a 100% exclusive world-wide license to develop the MAGRAM(TM) technology, and to manufacture and sell related products. Pageant is the holder of an undivided 50% interest in the U.S. patent and patent applications world-wide in respect of MAGRAM(TM). Under the terms of the license, Pageant is required to pay to the licensor or its nominee a royalty of 40% of the gross profits (less certain expenses).
For more information, please contact Mr. Stephen Fleming, President & C.E.O. of Pageant Technologies (USA) Inc., a wholly-owned subsidiary of Pageant, at tel.(505) 471-3027 or Mr. Ross McGroarty, Executive Vice-President, Micromem Technologies Inc., at tel.(416) 364-6513.
For further information, please also visit our Web site at: www.magramtm.com
Neither the OTC Bulletin Board nor any securities regulatory authority has approved or disapproved of the contents of this news release.
Shares issued: 36,451,319 SEC File No.: 82-2059
CONTACT:
Micromem Technologies Inc.
Tel. 416/364-6513
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