|By Marketwired .||
|August 11, 2014 11:25 AM EDT||
BURLINGTON, ONTARIO -- (Marketwired) -- 08/11/14 -- Astrix Networks Inc., operating as Memex Automation ("Astrix" or the "Company") (TSX VENTURE:OEE), announces it has closed the second and final tranche of a private placement. Oversubscribed, the total gross proceeds raised was $2,000,000, including the proceeds of the second tranche of $1,172,498. A total of 16,666,664 Units were issued at a price of $0.12 each ("Units"), including the second tranche placement of 9,770,814 units Each Unit is comprised of one common share in the capital of the Company (a "Common Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase one Common Share at a price of $0.16 at any time prior to 4:00 p.m. (Eastern time) on August 9, 2016.
In connection with the private placement the Company paid a finder's fee on certain subscriptions of 8% of the gross proceeds raised and broker warrants (the "Broker Warrants") equal to 8% of the number of Units sold. The total fees paid were $116,880 in cash and 974,004 Broker Warrants. Each Broker Warrant entitles the holder to purchase one Common Share at a price of $0.16 at any time prior to 4:00 p.m. (Eastern time) on June 24, 2016 for those granted in the first tranche and prior to 4:00 p.m. on August 9, 2016 for those granted in the second tranche of the private placement.
All securities issued are subject to a hold period, which will expire on October 24, 2014 for those issued in the first tranche and December 9, 2014 for those issued in the second tranche of the private placement. The closing is subject to receipt of final approval from the TSX Venture Exchange.
About the Company
Memex Automation (TSX VENTURE:OEE) is the leader of manufacturing Machine to Machine (M2M) productivity solutions and the measurement of Overall Equipment Effectiveness ("OEE") in real-time. OEE is the measurement of plant-wide capacity utilization. MERLIN (Manufacturing Enterprise Real-time Lean Information Network) generates OEE enterprise-wide, machine by machine. On April 15, 2014, PEM awarded the Company the 2013 Plant Engineering & Maintenance Award for Best Company Under 50 Employees. Frost & Sullivan awarded MERLIN its 2013 Technology Innovation Leadership Award for Machine Monitoring. 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 and published a 42% increase of its machine utilization and now offers it on its price list. Okuma America Corporation, a world leader in CNC machine tools, announced in April 2014 that Memex Automation became a Partner in THINC. 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."
Dec. 5, 2016 02:45 PM EST Reads: 3,271
Dec. 5, 2016 02:45 PM EST Reads: 1,580
Dec. 5, 2016 02:45 PM EST Reads: 659
Dec. 5, 2016 02:15 PM EST Reads: 1,094
Dec. 5, 2016 02:00 PM EST Reads: 2,189
Dec. 5, 2016 01:45 PM EST Reads: 1,705
Dec. 5, 2016 01:15 PM EST Reads: 2,159
Dec. 5, 2016 01:00 PM EST Reads: 841
Dec. 5, 2016 12:45 PM EST Reads: 678
Dec. 5, 2016 12:34 PM EST Reads: 233
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Dec. 5, 2016 12:30 PM EST Reads: 943
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Dec. 5, 2016 12:30 PM EST Reads: 2,292
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, sha...
Dec. 5, 2016 11:45 AM EST Reads: 932
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
Dec. 5, 2016 11:30 AM EST Reads: 764
CloudJumper, a Workspace as a Service (WaaS) platform innovator for agile business IT, has been recognized with the Customer Value Leadership Award for its nWorkSpace platform by Frost & Sullivan. The company was also featured in a new report(1) by the industry research firm titled, “Desktop-as-a-Service Buyer’s Guide, 2016,” which provides a comprehensive comparison of DaaS providers, including CloudJumper, Amazon, VMware, and Microsoft.
Dec. 5, 2016 11:30 AM EST Reads: 789