MEMEX Engages Sophic Capital for Capital Markets Services
By Marketwired News
BURLINGTON, ON–(Marketwired – January 11, 2016) –MEMEX Inc. (MEMEX) (
“We welcome Sophic Capital as our new IR partner to tell our story to its extensive base of institutional and retail investors,” said David McPhail, CEO of MEMEX. “Leading with our flagship software product, the MERLIN shop-floor-to-top-floor communications platform, MEMEX achieved 115% revenue growth in 2015. In 2016, we look forward to leveraging Sophic’s capital markets expertise to help communicate our growth strategy and Industrial Internet of Things (IIoT) technology roadmap to the entire investment community.”
“We are thrilled that MEMEX has selected Sophic Capital to execute its capital markets and investor relations strategies,” said Sean Peasgood, CEO of Sophic Capital. “According to research firm IDC, the Internet of Things market for manufacturing operations will grow to $98.8 billion by 2018. Growth will be driven by ongoing efforts to increase efficiency and link islands of automation — which is precisely MERLIN’s mission. MEMEX is quickly becoming a leader in manufacturing productivity software, and is well positioned for growth organically and through its partnerships with leading machine vendors and networking equipment manufacturers. MEMEX has all of the characteristics that we look for in a quality, disruptive technology company and we look forward to communicating this to the investment community.”
MEMEX’s engagement with Sophic Capital is for a term of 12 months, subject to an automatic renewal for an additional 12 months, 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 $0.18 per share. The options will vest quarterly in four tranches of 62,500 each during the term of the contract starting April 1, 2016 and will expire on the earlier of (i) 90 days after termination of the engagement and (ii) January 1, 2019. 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 Inc. is a leading Industrial Internet of Things (IIoT) technology platform provider that connects to any machine and 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 Overall Equipment Effectiveness (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 or hardware adapters for older machines. For more information, please visit: www.MemexOEE.com
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.
Sophic Capital Inc.