BURLINGTON, ON / ACCESSWIRE / August 21, 2018 / 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, August 17, 2018, it has granted an aggregate of 1.5 million share options to three non-management directors of the Company. The share options are exercisable at a price of $0.055 per share and vest over the next two years. One-third vested immediately upon grant, another third vest on August 17, 2019 and the remaining third vest on August 17, 2020. The share options expire on August 17, 2023.
In addition, the quarterly compensation to be paid to each of the three non-management directors was increased from $1 thousand per quarter to $3 thousand per quarter effective with Memex's fourth quarter of fiscal 2018.
About Memex Inc.:
Memex was founded with a vision to improve the way automated machine and production equipment work and connect on the factory floor. Since its inception Memex has proved itself a pioneer in IIoT time and again. The company is committed to its mission of "successfully transforming factories of today into factories of the future" and envisions converting every machine into a node on the corporate network, creating visibility from shop-floor-to-top-floor. Memex is the developer of MERLIN, an award-winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time. Memex's software and hardware IIoT solution enables customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average. Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300 per cent. For more information, please visit: www.MemexOEE.com
For investor inquiries please contact:
Rashi Rathore, Marketing Manager
905-635-1540
[email protected]
David McPhail, President & CEO
905-635-1540
[email protected]
Sean Peasgood, Investor Relations
647-977-9264
[email protected]
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.
SOURCE: Memex Inc.