BURLINGTON, ON / ACCESSWIRE / March 9, 2022 / Memex Inc. ("Memex" or the "Company") (TSX-V:OEE), a leader in Industrial Internet of Things (IIoT) manufacturing productivity software, announces that effective Tuesday, March 8, 2022, it has granted an aggregate of 6.4 million stock-based compensation options ("Options"), 2.0 million Options each to the two management directors and 800 thousand options each to the three non-management directors of the Company. The Options are exercisable at a price of $0.05 per share with half of the management directors' Options vesting March 8, 2024 and the balance on March 8, 2025. The non-management directors' Options vest over the next two years, with one-third vested immediately upon grant, another third vesting on March 8, 2023 and the remaining third vesting on March 8, 2024. All Options issued expire on March 8, 2027.
About Memex Inc.:
Established in 1992, Memex grew to be an industry leader in Industry Internet of Things (IIoT) through the development of MERLIN Tempus, an award-winning platform that delivers real-time, tangible increases in manufacturing productivity. Memex is on the leading edge of industry trends in computing power, machine connectivity, industry standards, advanced software technology, and manufacturing domain expertise.
Our persistent pursuit of innovative IIoT solutions led to a comprehensive understanding of the challenge's manufacturers face. We made it our mission to, "successfully transform factories of today into factories of the future." As the global leader in Machine to Machine (M2M) connectivity solutions, our hardware and software products create unparalleled visibility at all levels, from "Shop-Floor-to-Top-Floor."
The MERLIN Tempus Suite provides effective quantification and management of Overall Equipment Effectiveness (OEE) by revealing hidden capacity using real-time objective data. Further, it offers sustainable benefits that enable world-class OEE such as reducing costs, incorporating strategies for continuous LEAN improvement, and boosting bottom-line financial performance. For more information, please visit: www.MemexOEE.com
For investor inquiries please contact:
Rashi Rathore, Marketing Manager
David McPhail, President & CEO
Sean Peasgood, Investor Relations
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.
SOURCE: Memex Inc.
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