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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: DRBES who wrote (96904)	3/5/2000 10:54:00 AM
From: milo_morai	Respond to of 1584904

Darbes and Thread, has anyone here done some DD on MMTI? Comments please. Milo P.S. It could put a spear through RMBS heart or so it would seem. Symbol Last Trade Change Volume MMTI.OB Mar 3 15 +5 3/4 +62.16% 3,081,200 Thursday February 24, 6:07 am Eastern Time Company Press Release Micromem Accelerates Development Plans for Breakthrough MAGRAM Memory TORONTO--(BUSINESS WIRE)--Feb. 24, 2000--Micromem Technologies Inc. Thursday announced it has accelerated its planned development cycle for its breakthrough memory technology, MAGRAM(TM) memory. Following the successful production and testing of recent product samples, Micromem has decided to produce 16Kb memory devices, skipping the production of smaller 1000 bit arrays as previously announced. ``We've been so encouraged by the ongoing development of MAGRAM memory that we feel there is no further purpose in fabricating intermediate array sizes.' said Stephen B. Fleming, president and chief executive officer of Micromem's wholly owned subsidiary, Pageant Technologies (U.S.A.) Inc. ``Instead we will concentrate on producing much larger memory devices. If development continues in this manner, I believe we could see the first MAGRAM products introduced into the marketplace even earlier this year than previously expected.' Micromem recently contracted with Honeywell to help test and evaluate MAGRAM memory. About MAGRAM Micromem management believes MAGRAM is the world's first digital memory to combine the features of both random read/write access and non-volatility. MAGRAM is approximately 10 to 12 times faster than DRAM and unlike DRAM, MAGRAM memory does not require refreshing and retains information even after being shut off. MAGRAM is a high-density digital memory technology that consumes low power, and is easier and less costly to manufacture than DRAM. About Micromem Micromem, a corporation with head offices in Toronto, Ontario, is dedicated to the development of next-generation memory technology known as MAGRAM. Micromem, through its wholly owned subsidiary, Pageant Technologies Inc. (``PTI'), holds a 100% exclusive worldwide license to develop MAGRAM 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 worldwide in respect to MAGRAM. Under the terms of the license, PTI is required to pay to the licensor or its nominee a royalty of 40% of the gross profit (less expenses). For further information, contact Stephen Fleming, president and CEO of Pageant Technologies (USA) Inc., a subsidiary of PTI, at 505/471-3027 or Sam Fuda, chairman, Micromem Technologies Inc. at 416/364-6513. For information about Micromem and MAGRAM memory, visit the company's Web site at www.magramtm.com or call the company's investor relations line at 800/251-4205. 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 the company's actual results in future periods to differ materially from those expressed, These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the company's customers, competition and other factors discussed from time to time in the company's filings with the Securities & Exchange Commission. No securities regulatory authority has approved or disapproved of the contents of this news release. -------------------------------------------------------------------------------- Contact: Micromem Technologies, Inc. Stephen B. Fleming, 505/471-3027 or Benjamin Group/BSMG Worldwide Brad Brenner, 714/245-7500 brad_brenner@benjamingroup.com biz.yahoo.com