Burlington, ON, Canada – July 21, 2015 – Astrix Networks Inc. (TSX-V: 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.
Leanne Rattray, Communications Specialist
Phone: 905-635-1540 ext. 103
David McPhail, 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.
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