This was released last week.
FOR IMMEDIATE RELEASE
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.