MEMEX Secures $650 Thousand in New Purchase Orders
Company Announces Appointment of New Director
BURLINGTON, ON / ACCESSWIRE / July 5, 2018 / Memex Inc. (“MEMEX” or the “Company”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today announced that in the month of June the Company secured more than $650 thousand in new (purchase) orders. Although June’s orders were primarily follow-on business from existing clientele, there were some new customer orders booked that have the potential to develop into significant future business.
“We are very pleased with the support shown by our current customer base and their continued willingness to expand MERLIN’s footprint within their manufacturing environments,” stated MEMEX President and CEO David McPhail. “June was a good month for business development, and we are continuing to see as much new business opportunity now as we did at the end of May.”
New Director Appointment
By unanimous resolution, on June 14th, MEMEX appointed Michael Christiansen to its Board of Directors. Mr. Christiansen is the Managing Director and Chief Financial Officer of Weild & Co., Inc., a Colorado-based leading network investment bank serving independent investment bankers and corporate issuer clients. Michael brings more than three decades of Senior Management, Advisory, and Director-level experience and has a diverse background that includes Technology, Digital Media, Pharmaceuticals, and Mining, as well as investment banking.
MEMEX was founded with a vision to improve the way automated machine and production equipment work and connect on the factory floor. Since then 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 enable 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%. For more information, please visit: www.MemexOEE.com
For investor inquiries please contact:
Sean Peasgood, Investor Relations
Rashi Rathore, Marketing Manager
David McPhail, President & CEO
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.