|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."
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
Dec. 10, 2016 04:15 AM EST Reads: 1,374
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Dec. 10, 2016 04:15 AM EST Reads: 516
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Dec. 10, 2016 04:00 AM EST Reads: 5,513
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
Dec. 10, 2016 04:00 AM EST Reads: 5,311
Dec. 10, 2016 03:15 AM EST Reads: 410
Dec. 10, 2016 02:45 AM EST Reads: 2,267
Dec. 10, 2016 02:15 AM EST Reads: 788
Dec. 10, 2016 02:00 AM EST Reads: 586
Dec. 10, 2016 02:00 AM EST Reads: 1,987
Dec. 10, 2016 01:30 AM EST Reads: 3,999
Dec. 10, 2016 01:30 AM EST Reads: 764
Dec. 10, 2016 01:15 AM EST Reads: 1,220
Dec. 10, 2016 01:00 AM EST Reads: 1,263
Dec. 10, 2016 12:45 AM EST Reads: 484
Dec. 10, 2016 12:30 AM EST Reads: 614