Memex Announces $1.5 Million Private Placement

BURLINGTON, ONTARIO–(Marketwired – Aug. 22, 2017) –

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Memex Inc. (“MEMEX” or the “Company”) (TSX VENTURE:OEE) is pleased to announce that it has entered into a letter of engagement with Eight Capital acting as sole bookrunner and lead agent, on behalf of a syndicate (together, the “Agents”), under which the Agents have agreed to offer for sale units of the Company (the “Units”), on a “best efforts” private placement basis, subject to all required regulatory approvals, at a price per Unit of $0.16 (the “Issue Price”) for total gross proceeds of up to approximately $1,500,000 (the “Offering”).

Each Unit shall consist of one common share of the Company (a “Share”) and one-half of one Share purchase warrant (each full warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one Share at a price of $0.25 for a period of 24 months following the closing of the Offering. In the event that the closing sale price of the Company’s common shares on the TSX Venture Exchange is greater than $0.35 per Share for a period of 20 consecutive trading days at any time after the closing of the Offering, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.

The Company has granted the Agents an option to offer for sale up to an additional $500,000 of the Units, at the Issue Price, exercisable in whole or in part at any time for a period of up to 48 hours prior to the closing date of the Offering.

The net proceeds from the Offering will be used for working capital and general corporate purposes. The securities issued under the Offering will be subject to a four month hold period from the date of closing of the Offering in addition to any other restrictions under applicable law.

The closing date of the Offering is scheduled to be on or about September 12, 2017 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

About MEMEX

Memex Inc. was founded with a vision to improve the way automated machinery and production equipment work and connect on the factory floor. Since then MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real Time. MEMEX’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 per cent. For more information, please visit: www.MemexOEE.com

Cautionary Notes

Certain statements contained in this news release, constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. In particular, this news release contains forward-looking statements relating to, among other things the expected completion of the Offering and the Corporation’s ability to obtain necessary approvals from the TSX Venture Exchange. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. MEMEX believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and should not be unduly relied upon. Information on additional risks related to MEMEX’s business is included in our management’s discussion and analysis of our financial results for the year ended September 30, 2016 which may be accessed through the SEDAR website (www.sedar.com). The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. These forward-looking statements and information speak only as of the date of this news release. MEMEX does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

CONTACT INFORMATION

MEMEX’s Sales Execution Continue; Over $300,000 in Net-New Purchase Orders & Component Sales

BURLINGTON, ON / ACCESSWIRE / August 15, 2017 / Memex Inc. (“MEMEX” or the “Company”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, announced today that in the 30-day period ending August 14, 2017, it has received more than $300 thousand in net-new purchase orders and component sales. In combination with MEMEX’s previous press release, the Company has announced in excess of $780 thousand (at today’s exchange rate) worth of purchase orders since July 12th, 2017.

“An increasing number of manufacturers are recognizing the compelling value proposition of IIoT and Data-Driven Manufacturing, leading them to select MEMEX as their vendor of choice,” said MEMEX President and CEO, David McPhail. “The Company has experienced an increase in purchase activity from multiple end customers that represent a diverse set of manufacturing sectors including oil and gas, industrial pumps, and industrial painting equipment. MEMEX’s MERLIN Tempus continues to offer our clients the capability to gain new, real-time insights into exactly what is happening on their factory floors, whether they are physically onsite, or observing their operations remotely. Our unsolicited, inbound inquiries continue to increase, as do client referrals, and current customer site expansion opportunities. When these sales activities are combined with our diligent trade show and thought leadership marketing efforts, designed to secure more sales opportunities and bring on additional new customers, we believe that the recent net-new orders are just the beginning.”

About MEMEX

Memex Inc. was founded with a vision to improve the way automated machinery and production equipment work and connect on the factory floor. Since then MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real Time. MEMEX’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 per cent. For more information, please visit: www.MemexOEE.com.

For investor inquiries please contact:

Rashi Rathore, Marketing Manager
905-635-3040 ext. 103
Rashi.Rathore@MemexOEE.com

David McPhail, President & CEO
519-993-1114|
david.mcphail@MemexOEE.com

Sean Peasgood, Investor Relations
416-565-2805
sean@sophiccapital.com

Manufacturing Skills-Automation-Technology: How to Stay Competitive in the Global Marketplace

The program features a discussion examining the manufacturing industry. Speakers will cover a number of topics that are current and relevant to the evolution of the manufacturing industry. MEMEX will be participating in the innovation & technology panel.

Date: Sept 14, 2017

Time: 7:30- 10:30 a.m.

Location: Wintrust Financial Corp., Rosemont, Chicago

Learn More & Register Now!

MEMEX @NTMA “How to be a Top Shop” Seminar

MEMEX is participating in National Tooling and Machine Association’s  (NTMA) “How to be a Top Shop” seminar.

MEMEX is proud to be one of the presenters. MEMEX COO, Rick Mosca, will be speaking about “Shop floor Management Best Practices,” including introducing connectivity and dashboarding to the shop floor and establishing team-sharing of real-time data.

Date: 24th August 2017

Time: 9.00am-5.00pm

Location: 5711 West Park Ave, St Louis, MO, 63110

Register Now! 

MEMEX closed for Civic Holiday

MEMEX will be closed on Monday, 7th August 2017 for Civic Holiday  .

Normal hours will resume Tuesday, 8th August 2017

MEMEX @ CMTS

For over 30 years, CMTS has been the advanced manufacturing show where leaders in all Canadian industries including automotive and aerospace come together to share knowledge and see the latest advancements in tooling systems and technology. CEO of MEMEX, David McPhail, will be presenting in SME’s Smart Manufacturing Hub.

MEMEX will be demonstrating the MERLIN Tempus platform, talking about improving Overall Equipment Effectiveness (OEE) and answering your questions about Data-Driven Manufacturing.

Date: September 25¬–28, 2017

Location: Booth 1266 & Smart Manufacturing Hub,

The International Centre, Mississauga, ON, Canada

Learn More & Register Now

MEMEX @ Westec

WESTEC is the place to see the latest developments in machining, design and manufacturing technology in action, and participate in a variety of educational events, including keynotes and business manufacturing sessions. Once again, David McPhail, CEO of MEMEX, has been invited to speak at SME’s Smart Manufacturing Hub.

MEMEX will be demonstrating the MERLIN Tempus platform, talking about improving Overall Equipment Effectiveness (OEE) and answering your questions about Data-Driven Manufacturing.

Date: September 12–14, 2017

Location: Booth 2617 & Smart Manufacturing Hub,

Los Angeles Convention Center Los Angeles, CA

 

Learn More & Register Now

CNC Summer Open House 2017

At the open house, experience the power of MERLIN Tempus, an award-winning shop-floor-to-top-floor Industrial Internet of Things (IIoT) communication platform that offers 10% – 50% productivity increase. Also gain insight from MEMEX representatives about harnessing the true power of Data-Driven Manufacturing.

CNC’s Open House will enable visitors to experience the latest technologies in tooling and comprehensive machining strategies. Participants will learn about 5-axis manufacturing with SMOOTH TECHNOLOGY, participate in interactive automation demonstrations, and have the option to go head-to-head in a putting competition vs. a FANUC Robot.

Venue: CNC Machine Services, 7808 184th Street SE, Snohomish, WA 98296
Date: August 9–11, 2017
Time: 10.00 am – 5.00 pm

Click here to learn more

MEMEX Announces $500 thousand Deal with SEW-EURODRIVE for Plant-Wide Deployment of MEMEX MERLIN TEMPUS EE

Another MERLIN Pilot Transitions into Full Plant Rollout

BURLINGTON, ON–(Marketwired – Jul 12, 2017) – Memex Inc. (“MEMEX” or the “Company”) (TSX VENTURE: OEE) announced it has received a purchase order from SEW-EURODRIVE for $500 thousand (approx.) in a plant-wide deployment of MERLIN Tempus Enterprise Edition (EE) and MERLIN DNC software.

SEW-EURODRIVE, the Lyman, South Carolina-based producer of gearmotors and drive-based automation solutions, will install MEMEX’s machine-monitoring solutions onto most of the factory equipment housed in its 250,000 square-foot manufacturing facility.

“SEW-EURODRIVE researched very carefully for the right supplier of automated machine monitoring solutions and determined that MEMEX’s MERLIN was best able to capture the quality of data we were looking for,” said Jess Galloway, SEW-EURODRIVE’s Manufacturing Superintendent. Chuck Chandler, Plant Manager, added, “It is important for a world class manufacturing facility to have visibility of all operations and the use of these advanced data-driven manufacturing techniques extends our competitive edge.”

“We’re proud that SEW-EURODRIVE selected MEMEX after a thorough and careful competitive evaluation process,” said MEMEX President and CEO David McPhail. “SEW-EURODRIVE started with a MERLIN pilot, and has now committed to a full-plant roll-out of MERLIN Tempus EE and MERLIN DNC. This says a lot about how much value SEW-EURODRIVE places in the adoption of a data-driven manufacturing approach and in the MEMEX solution, in particular. We’re excited to work with SEW-EURODRIVE and are looking forward to helping this industry-leading manufacturer use data-driven manufacturing to achieve its business productivity and efficiency goals.”

About MERLIN Tempus Enterprise Edition and MERLIN DNC
The MERLIN Tempus Enterprise Edition works on MEMEX’s core MERLIN software platform, enhancing machine monitoring capabilities by adding additional metrics like Overall Equipment Effectiveness (OEE) — the industry standard measure of factory efficiency.

MERLIN DNC is a software plug-in to the MERLIN platform. It offers a browser-based interface that connects legacy CNC tools to modern networks, and allows CNC programs and data to be easily transferred.

About SEW-EURODRIVE
SEW-EURODRIVE is a world leader in drive technology and a pioneer in drive-based automation. Since introducing the gearmotor in 1931, the company has had a history of innovations, including the first variable speed gearmotor, early electronic drives, and the first motor with energy-efficient copper rotors. Over the last seven years, the company’s Lyman, South Carolina plant has more than doubled its manufacturing capacity to meet growing customer demand.

About MEMEX
Memex Inc. was founded with a vision to improve the way automated machinery and production equipment work and connect on the factory floor. Since then MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of “successfully transforming factories of today into factories of the future” and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real Time. MEMEX’s software and hardware IIoT solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 per cent. For more information, please visit: www.MemexOEE.com

 

For investor inquiries please contact:

 

Rashi Rathore, Marketing Manager

905-635-3040 ext. 103

Rashi.Rathore@MemexOEE.com

 

David McPhail, President & CEO

519-993-1114

david.mcphail@MemexOEE.com

 

 

Sean Peasgood, Investor Relations

416-565-2805

sean@sophiccapital.com

Podcast: The philosophy and application of data-driven manufacturing

David McPhail in conversation with James D. Sawyer – Editor Emeritus, Advanced Manufacturing

A manufacturing concern can get the greatest return on its investment by optimizing its overall equipment effectiveness, or OEE. In this podcast hosted for SME, MEMEX CEO David McPhail details the relationship between OEE and the Industrial Internet of Things (IIoT). Data, he explains, is what drives this relationship. Data-driven manufacturing consists of keeping track of everything that happens on the shop floor, and software, including MEMEX’s MERLIN Tempus solution, helps monitor and manage that data.