BURLINGTON, ON--(Marketwired - July 21, 2015) - Astrix Networks Inc. (TSX VENTURE: OEE), operating under the trade name Memex Automation, announces that it has officially changed its name to Memex Inc.
The
name change will be effective for trading purposes on the TSXV
commencing at the opening of trading on July 22, 2015. The common shares
of the company will continue to trade under the operating symbol "OEE"
following the name change. The existing share certificates issued under
the former name of Astrix Networks Inc. will continue to represent
common shares of the company under the new name, Memex Inc., and there
is no need for shareholders to exchange their share certificates.
However, if any shareholder wishes to exchange their share certificates
for new share certificates issued under the new name Memex Inc., they
can do so by contacting the company's transfer agent Computershare Trust
Company of Canada.
"Changing Astrix's name to Memex was
something that we had wanted to do for a while," says David McPhail,
President and CEO of Memex Inc. "Astrix has done business as Memex
Automation for years and we are well known for that. We felt that the
name 'Memex Automation' no longer fit quite right with the direction our
business has been going in so we wanted a fresh start. Sticking with
the Memex theme seemed only natural as most of our customers and
prospects know and refer to us as Memex."
"Brand awareness is
very important. With over 12,000 electronic circuits boards installed in
machines in various customer sites, all with the Memex name on it, we
know the service people see this and they call Memex," said John
Rattray, VP Sales & Marketing. "Our products and names must be
consistent."
Memex Inc.'s flagship software product, MERLIN, is
an industrial-strength shop floor communications platform that delivers
Overall Equipment Effectiveness (OEE) metrics in real-time. MERLIN
enables data-driven manufacturers to enhance productivity on any
machine, typically 10% to 50%, and increase profit from operations.
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 metrics. Industrial strength MERLIN software
provides Overall Equipment Effectiveness (OEE) efficiency metrics in
real time, from shop floor to top floor. MERLIN connects to any machine,
old or new, utilizing MTConnect, other protocols or hardware adapters.
The MERLIN magic delivers a 10% to 50% average productivity increase so
that any manufacturer can achieve world-class standards of excellence.
Based on just a 10% increase in OEE, customers see profit improvements
of 20%-plus and payback in less than four months. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Media Contacts
Memex Inc.
Leanne Rattray
Communications Specialist
Phone: 905-635-1540 ext. 103
Email: leanne.rattray@memex.ca
David McPhail
CEO
Phone: 519-993-1114
Email: david.mcphail@memex.ca
Tuesday, July 21, 2015
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