Me­mex in­creases pri­vate place­ment to $2.85-mil­lion

Stockwatch Daily - - TECHNOLOGY & TELECOM - Mr. David McPhail re­ports

ME­MEX INC. has en tered into an amended let­ter of en­gage­ment with Eight Cap­i­tal act­ing as sole bookrun­ner and lead agent, on be­half of a syn­di­cate, un­der which the agents have now agreed to of­fer for sale units of the com­pany, on a best-ef­fort pri­vate place­ment ba­sis, sub­ject to all re­quired reg­u­la­tory ap­provals, at a price per unit of 16 cents for to­tal gross pro­ceeds of up to ap­prox­i­mately $2.85-mil­lion from the orig­i­nal of­fer­ing of $1.5-mil­lion, with an op­tion to of­fer an ad­di­tional $500,000.

Each unit shall con­sist of one com­mon share of the com­pany and one-half of one share pur­chase war­rant. Each war­rant shall en­ti­tle the holder thereof to ac­quire one share at a price of 25 cents 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 35 cents 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 Sept. 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-V. About Me­mex Inc. Me­mex was founded with a vi­sion to im­prove the way au­to­mated ma­chin­ery and pro­duc­tion equip­ment work and con­nect on the fac­tory floor. Me­mex is the de­vel­oper of Mer­lin, an award-win­ning IIoT (industrial In­ter­net of things) tech­nol­ogy plat­form that de­liv­ers tan­gi­ble in­creases in man­u­fac­tur­ing pro­duc­tiv­ity in real time.

We seek Safe Har­bor.

Joseph Dou­glas Bren­nan, Robert Ed­ward Chafee, Scott Ka­pla­nis, Peter Alan Lacey, David Ron­ald McPhail, Richard Ed­ward Mor­ley, John Robert Rat­tray

(OEE) Shares: 116,336,883

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