BURLINGTON, ON / ACCESSWIRE / September 15, 2017 / Memex Inc. ("MEMEX" or the "Company") (TSX-V: OEE) is pleased to announce
that it has entered into an amended letter of engagement with Eight Capital acting as sole bookrunner and lead agent, on behalf of
a syndicate (together, the "Agents"), under which the Agents have now agreed to offer for sale units of the Company (the "Units"),
on a "best efforts" private placement basis, subject to all required regulatory approvals, at a price per Unit of $0.16 (the "Issue
Price") for total gross proceeds of up to approximately $2,850,000 (the "Offering") from the original offering of $1,500,000 with
an option to offer an additional $500,000.
Each Unit shall consist of one common share of the Company (a "Share") and one-half of one Share purchase warrant (each full
warrant, a "Warrant"). Each Warrant shall entitle the holder thereof to acquire one Share at a price of $0.25 for a period of 24
months following the closing of the Offering. In the event that the closing sale price of the Company's common shares on the TSX
Venture Exchange is greater than $0.35 per Share for a period of 20 consecutive trading days at any time after the closing of the
Offering, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the
Warrants will expire on the 30th day after the date on which such notice is given by the Company.
The net proceeds from the Offering will be used for working capital and general corporate purposes. The securities issued under
the Offering will be subject to a four month hold period from the date of closing of the Offering in addition to any other
restrictions under applicable law.
The closing date of the Offering is scheduled to be on or about September 26, 2017 and is subject to certain conditions
including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of
the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered have not
been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or an applicable exemption from the registration requirements of the United States Securities
Act of 1933, as amended, and applicable state securities laws.
About MEMEX
Memex Inc. was founded with a vision to improve the way automated machinery and production equipment work and connect on the
factory floor. Since then MEMEX has proved itself a pioneer in IIoT time and again. The company is committed to its mission of
"successfully transforming factories of today into factories of the future" and envisions converting every machine into a node on
the corporate network, creating visibility from shop-floor-to-top-floor. MEMEX is the developer of MERLIN, an award-winning IIoT
technology platform that delivers tangible increases in manufacturing productivity in Real Time. MEMEX's software and hardware IIoT
solution enable customers to achieve tangible IIoT-centric business outcomes. The MERLIN software suite and connectivity products
have enabled manufacturers to achieve upwards of a 50% increase in productivity and a 20%-plus increase in profit, on average.
Additionally, customers have secured payback in less than four months, which equates to an Internal Rate of Return greater than 300
per cent. For more information, please visit: www.MemexOEE.com.
Cautionary Notes
Certain statements contained in this news release, constitute "forward-looking information" within the meaning of applicable
Canadian securities legislation. In particular, this news release contains forward-looking statements relating to, among other
things the expected completion of the Offering and the Corporation's ability to obtain necessary approvals from the TSX Venture
Exchange. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events
to differ materially from those anticipated in such forward-looking statements. MEMEX believes the expectations reflected in such
forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and
should not be unduly relied upon. Information on additional risks related to MEMEX's business is included in our management's
discussion and analysis of our financial results for the year ended September 30, 2016 which may be accessed through the SEDAR
website (www.sedar.com). The forward-looking statements contained in this news release are expressly qualified by this cautionary
statement. These forward-looking statements and information speak only as of the date of this news release. MEMEX does not
undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by applicable securities laws.
For investor inquiries, please contact:
Rashi Rathore Marketing Manager Phone: 905-635-3040 ext. 103 Rashi.Rathore@MemexOEE.com
David McPhail President & CEO 519-993-1114 David.McPhail@memexOEE.com
Sean Peasgood Investor Relations 416-565-2805 Sean@sophiccapital.com
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
SOURCE: Memex Inc.
