$827,502 Private Placement for Memex Automation With 33% of Units Purchased by Management and Directors
25 June 2014 - 11:15PM
Marketwired
$827,502 Private Placement for Memex Automation With 33% of Units
Purchased by Management and Directors
BURLINGTON, ON--(Marketwired - Jun 25, 2014) - Astrix Networks
Inc., operating as Memex Automation (TSX-VENTURE: OEE) ("Astrix,"
"Memex" or the "Company"), has closed the first tranche of a
non-brokered private placement in the amount of $827,502 with the
issuance of 6,895,850 units (the "Private Placement"). Each unit (a
"Unit") is comprised of one common share in the capital of the
Company (a "Common Share") and one half warrant (a "half Warrant").
Each whole Warrant comprised of two half Warrants (a "Warrant")
entitles the holder to purchase one Common Share at a price of
$0.16 per share at any time prior to 4:00 p.m. (Calgary time) on
the date that is twenty-four months following the closing date of
the Private Placement.
The Company is pleased to announce its management and directors
subscribed for $272,502, or 33%, of this Private Placement -- a
strong endorsement for the Company's momentum.
Accredited Investors resident in Canada, the USA, Offshore, may
be interested to subscribe to the second tranche closing of
approximately $487,002, by contacting the Company or your
Investment Advisor.
The Common Shares and Warrants issued in connection with the
Private Placement are subject to a four-month hold period from the
closing date, as prescribed by the TSX Venture Exchange and
applicable securities laws.
About Memex
Memex Automation (TSX-VENTURE: OEE) is the global leader of
manufacturing Machine to Machine (M2M) productivity solutions and
the measurement of Overall Equipment Effectiveness in real-time
("OEE"). In 2013, Frost & Sullivan awarded MERLIN
(Manufacturing Enterprise Real-time Lean Information Network) its
Technology Innovation Leadership Award, and Microsoft picked MERLIN
to be its mid-market ERP machine connectivity solution. Mazak,
North America's largest original equipment manufacturer of machine
tools purchased MERLIN to manage its Florence, KY, plant and offers
MERLIN on its price list. MERLIN also won the Plant Engineering and
Maintenance (PEM) 2013 Award for Best Company Under 50 Employees
recognizing customer Return On Investment (ROI).
For more information, please visit: www.memex.ca.
"Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release."
Investors: Thomas Smeenk VP Business Development 905-536-3138
Email Contact Sales: John Rattray Vice-President Sales 905-635-0590
Email Contact Media: Leanne Rattray Marketing 905-635-1540 ext. 103
Email Contact
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