BURLINGTON, ON--(Marketwired - Jan 17, 2017) - Memex Inc. ("Memex" or the "Company") (TSX VENTURE: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, announced today it has renewed Sophic Capital Inc. (Sophic Capital) as its Investor Relations (IR) firm for a second year. Sophic Capital is a comprehensive capital markets advisory firm for companies in the technology sector, and will continue to focus on increasing investor awareness of MEMEX and introducing MEMEX to appropriate investment advisors, investment dealers, institutions and other financial professionals.
Memex's continuing engagement with Sophic Capital for the next 12 months is on a fee for services basis of $6,000 per month. In addition, Sophic has been granted options to purchase up to 250,000 shares of Memex at a price of $0.275 per share (closing price January 6, 2017, the day the agreement was renewed). The options will vest quarterly in four tranches of 62,500 each during the term of the contract starting April 6, 2017 and will expire on the earlier of (i) 90 days after termination of the engagement and (ii) January 6, 2020. The options are governed by the provisions of the Company's stock option plan and the policies of the TSX Venture Exchange.
About Memex Inc.
Memex, the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of, "Successfully transforming factories of today into factories of the future", and encouraged by the accelerating adoption and success of MERLIN, Memex is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. Memex envisions converting every machine into a node on the corporate networks, thereby, creating visibility from shop-floor-to-top-floor. Memex, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers Memex's customers to effectively quantify and manage OEE, reduce costs, and incorporate strategies for continuous lean improvement.
For more information, please visit: www.MemexOEE.com
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