Memex Automation to Trade Under TSX VENTURE: OEE
BURLINGTON, ON--(Marketwired - Oct 30, 2013) - Astrix Networks Inc., operating under the trade name Memex Automation, is pleased to announce that it has completed the previously announced reverse take-over of GPS Investment Corp. The resulting issuer has assumed the legal name of Astrix Networks Inc. and the business of Astrix Networks Inc. will continue to operate under the trade name Memex Automation. Upon receipt of final acceptance of the reverse take-over by the TSX Venture Exchange, the common shares of the post-reverse take-over Astrix Networks Inc. will commence trading on the TSX Venture Exchange under the trading symbol "OEE" (TSX VENTURE: OEE).
Astrix Networks Inc. has raised gross proceeds of $854,645.50 pursuant to its previously announced brokered and non-brokered private placement, the achievement of which was a prerequisite to the completion of the reverse take-over.
Memex Automation is the leader in real-time shop-floor-to-top-floor technology solutions. Memex's flagship product MERLIN delivers Overall Equipment Effectiveness (OEE) metrics in real-time, enabling manufacturers to enhance production and increase income and profits from operations. MERLIN has earned the 2013 North American Frost & Sullivan Award for Technology Innovation Leadership. Since 1992, Memex has partnered with 280 dealers worldwide to provide a variety of manufacturing connectivity products and services to over 12,000 customers globally. For sales information, call +1 (905) 635-1540, email email@example.com, or visit http://www.memex.ca.
Share Capital Structure
The post-reverse take-over Astrix Networks Inc. now has 48,132,080 common shares outstanding. Of these: (i) 4,143,750 common shares are represented by the GPS Investment Corp. common shares that were outstanding prior to the completion of the reverse take-over and the Astrix Networks Inc. private placement; (ii) 35,441,875 common shares were issued in exchange for the common shares of Astrix Networks Inc. that were outstanding prior to the completion of the reverse take-over and the Astrix Networks Inc. private placement (i.e. such shares issued at a deemed price of $0.10 per share for aggregate deemed consideration of $3,544,187.50); and (ii) 8,546,455 common shares were issued pursuant to the Astrix Networks Inc. private placement (i.e. such shares issued at a deemed price of $0.10 per share for aggregate deemed consideration).
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Published Date : 10/30/2013