Memex Inc. Grants Share Options
Burlington, ON, Canada – February 29, 2016 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE) a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, announces that, effective Friday, February 26, 2016, it has granted an aggregate of 480,000 share options to four directors of the Company. The share options are exercisable at a price of $0.14 per share and vest over the next three years. One-third vested immediately upon grant, another third vest on February 26, 2017 and the remaining third vest on February 26, 2018. The share options expire on February 26, 2021.
About Memex Inc.
Memex is a leading Industrial Internet of Things (IIoT) technology platform provider that delivers real-time manufacturing productivity analytics. Industrial strength MERLIN software provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time, from shop-floor-to-top-floor. Specifically, MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in OEE. It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect, other protocols or MERLIN hardware adapters for older machines. For more information, please visit: www.MemexOEE.com
For investor inquiries please contact:
David McPhail, President & CEO, Memex Inc.
Ed Crymble, Chief Financial Officer, Memex Inc.
905-635-1540 ext. 110
Sean Peasgood, Investor Relations, Sophic Capital
Neither the TSX Venture Exchange nor its Regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.