MEMEX COVID-19 Statement

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Statement to Memex Customers, Business Partners, Staff – COVID-19

Ensuring the health and safety of our people, customers, and business partners is our top priority right now. Given the growth in the number of cases of COVID-19 in North America, and continued uncertainty around the world, we are undertaking additional measures to protect employees, their families, our customers, business partners and communities.

We value your business and our goal is to ensure that we continue to provide you with a high level of service.

Like you, we are continuously monitoring information from official health organizations and planning and adjusting for business continuity in changing scenarios. Here are some of the steps we’ve taken:

Delivering and Maintaining Client Service to You
We realize that business has to continue as usual where possible, which includes continuing to provide you with the level of service that you expect and require. We have taken steps to ensure that the timeliness and quality of that work remains unaffected. Wherever possible, our Client Services Representatives, development and other resource staff will be working remotely.

Our approach to business communications will remain largely unchanged, undertaken through direct telephone call or group teleconferencing. We provide join.me links and dial-in numbers for any customer interaction/meetings requiring the sharing of visual information.

We have temporarily postponed all on-site installations, with the expectation to re-evaluate conditions at the beginning of April. We have put restrictions in place for all non-essential business travel, with absolutely no travel to highly affected areas within North America.

Ensuring a Safe and Clean Environment
We have made it a priority to monitor Memex personnel for COVID-19 symptoms, while also regularly
communicating Health Canada’s guidance and providing reminders on the established steps to take to stay safe and avoid spreading the virus. Additional cleaning protocols, including office-cleaning and supplying additional hand sanitizer stations in our reception and common areas, are in effect.

We have asked anyone who feels unwell to work from home or to rest until they are fit to be at the office. We have enhanced this policy and now ask any employee who experiences symptoms of COVID-19 or who has come into contact with someone awaiting test results to work from home and to follow Health Canada recommendations. This includes self-isolation for those who have contracted the virus or come into contact with someone who has tested positive, or who have returned from travel from a country or region that public health officials have deemed to be high risk.

Ensuring business continuity
As part of our emergency preparedness and our normal business protocol, we have established business continuity plans that include flexible remote work options and training. We are making every effort to ensure that we can provide you with the same timely service you are used to, while providing safe working conditions for our people.
Our relationship with you is important. This is an unprecedented time for everyone, and we ask you to stay connected with us and let us know if there is anything, we can do to assist you at this time.

Click Here to download the complete statement

Memex Inc. Reports Q1-2020 Results

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Burlington, ON, Canada – February 27, 2020 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released financial and operational highlights for its first quarter 2020 ending December 31, 2019. All results are reported in Canadian dollars. A complete set of December 31, 2019 Consolidated Financial Statements and Management’s Discussion & Analysis has been filed at www.sedar.com.

Summary financial highlights for the three-months ended December 31, 2019:

  • Memex reported revenue of $544 thousand for the three-month period, compared to $693 thousand in the same period a year ago (a 22% decrease);
  • Bookingsi for the period totalled $727 thousand versus $1.04 million in the same period a year ago, a 30% decrease;
  • The Company finished the period with $1.41 million in project backlogii, $217 thousand more than at September 30, 2019;
  • Gross margin was 61.0% for the period compared to 67.0% for the year-ago period;
  • Cash consumed from operations in Q1-2020 (before changes in non-cash items) was $423 thousand, $122 thousand more than the same period a year ago;
  • Net and comprehensive loss for the period was $506 thousand ($0.004 per share), compared to $348 thousand ($0.003 per share) for the same period a year ago; and
  • The Company had a $139 thousand working capital deficit and $529 thousand in cash on hand at December 31, 2019, compared to $356 thousand in working capital surplus and $740 thousand in cash at September 30, 2019.

Management commentary:

“Although year-over-year bookings were lower than expected, they were within management’s internal forecast range and close to the 5-year average of past Q1 bookings,”  said Memex CEO David McPhail.  “And our lower year-over-year revenue was due primarily to technical issues that we have now resolved in the deployment of significant projects in Q1. We are pleased to see our $1.41 million backlog continue to grow, which we believe will allow us to improve upon our current results in the remainder of 2020.”

Selected financial information:

   

Three-months periods ended

December 31

 

    
(Canadian dollars – in thousands except per share and margin%) 2019 2018 Change  

 

      
Revenue 544 693 –    22%        
Bookingsi 727 1,043 –    30%        
Gross margin % 61.0 67.0 –       9%        
Operating expenses 777 799 –       3%        
Cash utilized in operating activities1 423 301 +    41%        
Net and comprehensive loss for the period 506 348 +    45%        
Basic and diluted loss per share – period (0.004) (0.003) –      39%        
  1. Before changes in non-cash working capital balances.
 

As at

(Canadian dollars – in thousands except WC ratio)

 

 December 31, 2019 September 30, 2019  

 

        
Cash on hand 529 740          
Current assets 1,352 1,901          
Total assets 2,335 2,189          
Current liabilities 1,491 1,545          
Working capital surplus (deficit)* (139) 356          
Working capital ratio** 0.91 to 1 1.23 to 1          
Backlogii 1,406 1,189          

*   Working Capital = current assets – current liabilities

**  Working Capital ratio = current assets / current liabilities

 

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:

Ed Crymble, Chief Financial Officer

905-635-1540

investor.relations@memexOEE.com

 David McPhail, President & CEO

905-635-1540

investor.relations@memexOEE.com

Sean Peasgood, Investor Relations

647-977-9264

sean@sophiccapital.com

 

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.

_________________________________

i & ii  These non-IFRS financial measures are identified, defined and reconciled to their closest IFRS measures, revenue and unearned revenue, within our Management’s Discussion and Analysis for the periods ended December 31, 2019 and 2018, in the section “Other Financial Measures.”  That MD&A is available at www.sedar.com under our company profile.

Annual General Meeting 2020

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Date: March 26, 2020

Time: 11.00 AM EST

Venue: Holiday Inn-Burlington Conference Centre
3063 South Service Road
Burlington, ON L7N 3E9

Due to COVID-19 and subsequent closing of Holiday Inn, the Annual General Meeting will be held at the MEMEX HQ:

880 Laurentian Drive – Unit #2
Burlington, Ontario L7N 3V6
Canada

 

Please find below the investor documents:

1) Annual Financial Statement and MD&A

2) NI Card

3) Management Information Circular

MEMEX closed for Family Day

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MEMEX will be closed on Monday, 17th February 2020 to observe Family Day

Normal hours will resume Tuesday, 18th February 2020

Memex Inc. Reports Q4-2019 Results Record Bookings & Revenue Reported for Fiscal Year

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Burlington, ON, Canada – January 23, 2020 – Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, today released its annual financial and operational highlights for its fiscal year ending September 30, 2019. All results are reported in Canadian dollars. A complete set of the Audited September 30, 2019 Consolidated Financial Statements and Management’s Discussion & Analysis has been filed at www.sedar.com.

Summary financial highlights for the three-months ended September 30, 2019:

  • Memex reported revenue of $932 thousand for the three-month period, as compared to $1.08 million in the same period a year ago (a 13% decrease), but still the second highest quarterly revenue ever reported;
  • Gross Bookingsi for the period totalled $735 thousand, versus $421 thousand in the same period a year ago, a 75% increase (net bookings for the quarter were $503 thousand when netted against two cancelled projects that were booked in prior quarters, a 19% increase from a year ago);
  • The Company finished the period with $1.19 million in project backlogii, $89 thousand more than at September 30, 2018;
  • Gross margin was 69.5% for the period compared to 81.9% for the year-ago period;
  • Cash consumed from operations in Q4-2019 (before changes in non-cash items) was $71 thousand, $67 thousand more than the same period a year ago;
  • Net and comprehensive loss for the period was $137 thousand ($0.001 per share), compared to $70 thousand ($0.001 per share) for the same period a year ago; and
  • The Company had $356 thousand in working capital, including $740 thousand in cash at September 30, 2019, as compared with $723 thousand in working capital and $1.048 million in cash at September 30, 2018.

 

Summary financial highlights for the Year ended September 30, 2019:

  • Fiscal 2019 revenue of $3.25 million was the best annual revenue ever reported, exceeding the previous high by more than $340 thousand (12%). Year-over-year, revenue increased 14% from $2.85 million in F2018;
  • Fiscal 2019 bookingsi of $3.48 million set a new benchmark, exceeding the Company’s previous record of $3.42 million recorded in 2016. Year-over-year, bookingsi increased 27% from $2.75 million in F2018;
  • Gross margin for the year was 70.9% compared to 69.9% a year ago;
  • Net and comprehensive loss was $1.07 million ($0.008 per share), compared to $2.25 million ($0.017 per share) loss a year ago.
  • Cash utilized in operating activities (before changes in non-cash items) of $822 thousand in fiscal 2019 was $1.13 million (58%) lower than the prior year, its lowest level since going public in 2013.

Management commentary:

“The team at Memex executed our operational and financial plans exceedingly well in the fourth quarter and fiscal year of 2019,” said Memex CEO David McPhail. “The Company posted several records and near record metrics and did so while consuming record low cash from operations in fiscal 2019. Bookings are up, giving us increased confidence that the MERLIN suite is resonating with the manufacturing industry. In fact, demonstrations of MERLIN’s advanced analytics and agility are primary reasons for our record bookings, as these features address industry trends of streamlining production facility operations and increasing responsiveness to shifts in demand. We’re pleased with our progress, and we look forward to continued execution in fiscal 2020.”

Selected financial information:

   

Three-months periods ended

September 30

 

    

Year ended

September 30

 
(Canadian dollars – in thousands except per share and margin%) 2019 2018 Change  

 

 2019 2018 Change
Revenue 932 1,077 –    13%   3,251 2,853 +    14%
Bookingsi 503 421 +    19%   3,484 2,752 +    27%
Gross margin % 69.5 81.9 +    15%   70.9 69.9 +      1%
Operating expenses 740 939 –     21%   3,260 4,195 –    22%
Cash utilized in operating activities1 71 22 +  223%   822 1,949 –    58%
Net and comprehensive loss for the period 137 70 –    96%   1,072 2,254 –    52%
Basic and diluted loss per share – period 0.001 0.001 –       0%   0.008 0.017 –    52%
  1. Before changes in non-cash working capital balances.

 

 

 

As at

(Canadian dollars – in thousands except WC ratio)

 

 September 30, 2019 September 30, 2018  

 

        
Cash on hand 740 1,048          
Current assets 1,901 1,964          
Total assets 2,189 2,319          
Current liabilities 1,545 1,241          
Working capital* 356 723          
Working capital ratio** 1.23 to 1 1.58 to 1          
Backlogii 1,189 1,100          

*   Working Capital = current assets – current liabilities

**  Working Capital ratio = current assets / current liabilities

 

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:

Ed Crymble, Chief Financial Officer

905-635-1540

investor.relations@memexOEE.com

 David McPhail, President & CEO

905-635-1540

investor.relations@memexOEE.com

 

Sean Peasgood, Investor Relations

647-977-9264

sean@sophiccapital.com

 

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.

­­­­­­­­­­­­­­­­­­­­­­­_________________________________

i & ii  These non-IFRS financial measures are identified, defined and reconciled to their closest IFRS measures, revenue and unearned revenue, within our Management’s Discussion and Analysis for the years ended September 30, 2019 and 2018, in the section “Other Financial Measures.”  That MD&A is available at www.sedar.com under our company profile.

MEMEX holiday hours

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We wish everyone a very Merry Christmas and a Happy New Year!

MEMEX holiday hours are as follows:

Tuesday, December 24: 8.30 am – 12.00 pm

Wednesday, December 25: Closed

Thursday, December 26: Closed

Friday, December 27: Regular hours

Monday, December 30: Regular hours

Tuesday, December 31: 8.30 am – 12.00 pm

Wednesday, January 1: Closed

Regular hours will resume Wednesday, January 2, 2019.

[Podcast] Tackling Downtime and Inefficiencies with Software

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Turning to software over paper reports does more than just save trees. Chris Mahar, Associate Editor of Manufacturing Engineering, talks with David McPhail, President and CEO of Memex Inc., about how manufacturers can utilize technology to improve efficiency, reduce downtime and boost productivity and profits across their business. Leveraging software to solve elusive waste in any facility.

Jergens Inc. Initiates a Plant-Wide Roll-Out of MERLIN Tempus

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BURLINGTON, ON / ACCESSWIRE / November 6, 2019 / Memex Inc. (“MEMEX” or the “Company”) (TSXV:OEE) a leader in Industrial Internet of things (IIoT) manufacturing productivity software, announces that Jergens Inc. (“Jergens”) has purchased MERLIN Tempus Enterprise Edition for deployment in their Cleveland, Ohio facility. This order will see 11 machines integrated to Memex’s software platform in the first phase of what is anticipated to be a plant-wide adoption of MERLIN Tempus EE.

“Jergens is committed to a digital transformation strategy that will ensure we continue to produce the best workholding solutions, specialty fasteners and lifting products in the industry,” said Matt Schron, Jergens’ General Manager. “With the latest in IIoT software and hardware tools from MEMEX compiling and analysing our real-time production data, we will ensure our plant operates with optimum efficiency.”

“Continuous increasing adoption of MERLIN Tempus is a testament how valuable MERLIN Tempus is to the manufacturing sector and recognition of the tremendous benefits offered by MERLIN Tempus,” said David McPhail, CEO & President, MEMEX Inc. “Jergens is at the forefront of manufacturers adopting digital transformation strategies to optimize their operations, and MEMEX’s MERLIN Tempus fills the void of automating and accurately measuring overall equipment effectiveness. Our pipeline remains robust, and we are optimistic about our role and prospects as manufacturers undergo their Industry 4.0 transitions.”

About Jergens:

Since our founding Jergens has grown to comprise 3 distinct business units: Workholding Solutions, Lifting Solutions and Specialty Fasteners. Building on its reputation of uncompromising quality standards, Jergens is committed to helping its customers achieve leaner, more profitable manufacturing, and continues to add products and engineered solutions for an integrated approach to “Manufacturing Efficiency.”

Today, you’ll find our workholding, fasteners and hoist rings at work in just about every industry on every continent. And our innovative engineered solutions like the Ball Lock® Mounting System have changed the way manufacturers worldwide think about productivity.

Our US based manufacturing is headquartered right here in our 130,000 sq. ft. Cleveland, OH facility, guaranteeing you high quality, competitive pricing and immediate availability (or fast turnaround times on special items). We are a big user of our own products and can set up lean cells to accommodate lot sizes from 1 to 10,000, thanks to our own tooling components and engineered products like the Ball Lock® Mounting System. So, when it comes to lean manufacturing, we practice what we preach here at Jergens…Manufacturing Efficiency.

About MEMEX:

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:

Sean Peasgood, Investor Relations
647-977-9264
sean@sophiccapital.com		 Rashi Rathore, Marketing Manager
905-635-1540
investor.relations@memexOEE.com

Forward-Looking Statement

The statement relating to the future delivery of products/services “…of what is anticipated to be a plant-wide adoption of MERLIN Tempus EE” is a forward-looking statement. However, there is no guarantee that any contemplated order will be placed or that if placed the Company could complete delivery. No forward-looking statements can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The aforementioned forward-looking statement is made as of the date of this press release and, except as required by applicable securities legislation, Memex assumes no obligation to update publicly or revise this forward-looking statement to reflect subsequent information, events, or circumstances

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.

Primetals Technologies USA LLC Follow-On Purchase Order

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BURLINGTON, ON / ACCESSWIRE / October 29, 2019 / Memex Inc. (“MEMEX” or the “Company”) (TSX-V:OEE) a leader in Industrial Internet of Things (IIoT) manufacturing productivity software, announces a follow-on Purchase Order from Primetals Technologies, a steel industry joint-venture between Mitsubishi Heavy Industries (MHI) and Siemens. The follow-on order is for a full plant roll-out of MERLIN Tempus Enterprise Edition at the company’s Sutton, MA facility over the next two years. Primetals Technologies has several additional plants, which may also see future MERLIN deployment after success with the current project. Primetals Technologies has been a customer of MEMEX since deploying its MERLIN DNC software back in 2017.

“We’re very pleased to expand our relationship with Primetals Technologies, a global provider of technology and services for the metals industry,” said David McPhail, CEO & President, MEMEX Inc. “Digital transformation of the steel industry (and manufacturing in general) is trending upwards as interest continues to grow for IIoT-centric, data-driven manufacturing solutions. We saw evidence of this in the record bookings we announced along with our third quarter financial results. MEMEX’s MERLIN Tempus has clearly demonstrated the ability to scale and uncover costly inefficiencies with both small and large manufacturers, and we look forward to demonstrating MERLIN’s expanded features not just to Primetals Technologies but to all of our valued customers and prospects.”

“Primetals Technologies is investing in a new state-of-the-art manufacturing plant in Sutton, MA, that will incorporate the latest in advanced technology including Industry 4.0 software and hardware tools from MEMEX,” said Bill Wheeler, Director of Operations. “We had a great experience when we initially adopted MEMEX’s MERLIN DNC software, which made choosing their IIoT product an easy decision for this expansion.”

About Primetals Technologies:

Primetals Technologies, Limited headquartered in London, United Kingdom is a worldwide leading engineering, plant-building and lifecycle services partner for the metals industry. The company offers a complete technology, product and service portfolio that includes integrated electrics, automation, digitalization and environmental solutions. This covers every step of the iron and steel production chain, extending from the raw materials to the finished product – in addition to the latest rolling solutions for the nonferrous metals sector. Primetals Technologies is a joint venture of Mitsubishi Heavy Industries (MHI) and Siemens. Mitsubishi-Hitachi Metals Machinery (MHMM) – an MHI consolidated group company with equity participation by Hitachi, Ltd. and the IHI Corporation – holds a 51% stake and Siemens a 49% stake in the joint venture. The company employs around 7,000 employees worldwide. Further information is available on the Internet at www.primetals.com.

About MEMEX:

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:

Sean Peasgood, Investor Relations
647-977-9264
sean@sophiccapital.com

Rashi Rathore, Marketing Manager
905-635-1540
investor.relations@memexOEE.com

Forward-Looking Statement

The statement relating to the future delivery of products/services “Primetals Technologies has several additional plants which may also see future MERLIN deployment after success with the current project” is a forward-looking statement. However, there is no guarantee that any contemplated order will be placed or that if placed the Company could complete delivery. No forward-looking statements can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The aforementioned forward-looking statement is made as of the date of this press release and, except as required by applicable securities legislation, Memex assumes no obligation to update publicly or revise this forward-looking statement to reflect subsequent information, events, or circumstances

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.

Canadian Made – Usinatech Adopts MEMEX’s MERLIN Tempus

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Burlington, ON, Canada – October 16, 2019 – Memex Inc. (“MEMEX” or the “Company”) (TSXV: OEE) a leader in Industrial Internet of things (IIoT) manufacturing productivity software, announces the installation of MERLIN Tempus Enterprise Edition platform and the integration of 40 manufacturing machines at Usinatech Inc.’s manufacturing facility in Melbourne, Quebec. Success with this initial implementation could see Usinatech, a world-class precision metal parts machining and manufacturing company, connect additional machines in Canada as well as deploy MERLIN to its Mexican operations.

“Although MEMEX is proudly Canadian, the Company has continuously generated the majority of its revenue through clientele in the United States,” said David McPhail, CEO & President, MEMEX Inc. “This is MEMEX’s largest Canadian installation project since going public in 2013, and we’re confident that Usinatech’s adoption of MERLIN Tempus will provide an efficiency advantage as they compete in the global market. We’re proud to contribute to a Canadian, data-driven manufacturing success story.”

“Usinatech has a history in applying the most advanced manufacturing techniques to produce the best machined parts in the industry,” said Usinatech President, Rudy Pelletier. “We are now embarking on a digital transformation strategy with the latest in advanced technology including the implementation of Industry 4.0 software and hardware tools from MEMEX. For us this will mean a digitally connected plant with real-time information and analytics to ensure our plant operates at optimum efficiency.”

About Usinatech Inc.:

Usinatech is a world-class precision metal parts machining and manufacturing company. With five integrated, high efficiency plants in Canada and Mexico, Usinatech has been providing precise answers for Sports RV, Aerospace, Automotive, Defense and Agricultural Equipment since 1986. Known for excellence in high volume, high quality production of complex parts and assemblies, we believe in investing in our people and in the best technology to get the best answers for our clients.

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:

Sean Peasgood, Investor Relations

647-977-9264

sean@sophiccapital.com

 Rashi Rathore, Marketing Manager

905-635-1540

investor.relations@memexOEE.com

Forward-Looking Statement

The statement relating to the future delivery of products/services “…could see Usinatech, a world-class precision metal parts machining and manufacturing company, connect additional machines in Canada as well as deploy MERLIN to its Mexican operations” is a forward-looking statement. However, there is no guarantee that the contemplated order will be placed or that if placed the Company could complete delivery. No forward-looking statements can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The aforementioned forward-looking statement is made as of the date of this press release and, except as required by applicable securities legislation, Memex assumes no obligation to update publicly or revise this forward-looking statement to reflect subsequent information, events, or circumstances

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.