I have been meaning to blog about this for awhile.
This is HUGE that Rick Mosca joined the executive leadership team at Memex Automation! I have known Rick for 4+ years and he is an absolute thought leader with a tremendous track record in his distinguished career. I had the pleasure of working with Rick when I was President and Chairman of the Board for the MTConnect Institute and Rick was with Mind Over Machines.
Rick will also be heading up our Partner Operations which is critical for our global scaling and success.
Welcome Rick!
Below is the press release:
BURLINGTON, ONTARIO, Dec 11, 2014 Astrix Networks Inc., operating as Memex Automation (OEE) ("Memex" or the "Company") has closed a non-brokered private
placement totaling $348,000. A total of 2,900,000 Units were issued
at a price of $0.12 each ("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
December 12, 2016.
In connection with the private placement the Company paid a finder's
fee on certain subscriptions of 6% of the proceeds raised via brokers
and issued broker warrants (the "Broker Warrants") equal to 6% of the
number of Units sold. The total fees paid were $9,744 in cash and
81,201 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 December 12, 2016. All securities issued
are subject to a hold period, which will expire on April 12, 2015.
The closing is subject to receipt of final approval from the TSX
Venture Exchange.
As part of this placement the Company's newest Executive, Rick Mosca,
now Chief Operations Officer of Astrix Networks America Inc.
subscribed for 13% of the placement. Mr. Mosca is an IT executive
with special expertise in leading all facets of business including
client facing revenue development, sales channel development,
applications development and enterprise systems delivery.
"I first became aware of Memex through my relationship with AMT, as a
member of the Technical Advisory Group of MTConnect," explains Rick
Mosca.
"With a multi-year line of sight of the MTConnect products in
development, it became clear to me that MERLIN is the most complete
and robust forward and backward compatible solution. Based on my
experience and industry knowledge, I am convinced that MERLIN has the
potential to become the industry leading MTConnect-based MES
solution, and I am thrilled to be joining this team as its American
COO."
"It is with great pleasure that I welcome Rick Mosca to the Memex
senior management team as the COO of our American subsidiary,"
reports David McPhail, CEO. "Rick brings with him a wealth of global
experience and a proven track record of building effective,
profitable and lasting relationships at the CXO level within the
Fortune 500."
About Memex Automation
Memex Automation (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, plant by plant, machine by machine. As published in
Automation.Com in July 2014, by using MERLIN in its 800,000 square
foot Kentucky plant, Mazak, the largest machine tool builder in the
world, increased the utilization of its own machines by 42%, and now
offers MERLIN on their price list. Okuma America Corporation, a world
leader in CNC machine tools, announced in April 2014 that Memex
Automation became a Partner in THINC. On April 15, 2014, PEM awarded
the Company the 2014 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. For more information, please visit:
www.memex.ca.
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.
Contacts:
Sales: Memex Automation Inc.
John Rattray
VP Sales and Marketing
905-635-0590
jrattray@memex.ca