Memex Inc. Announces Expected Date for Annual Financial Filings Amid Cease Trade Order

BURLINGTON, ON - Memex Inc. (TSX-V:OEE), a prominent player in the field of Industrial Internet of Things (IIoT) manufacturing productivity software, has updated stakeholders on the status of its Annual Financial Filings for the year ending September 30, 2023. The company, along with its auditors, is making progress and projects the completion and filing of the Annual Financial Filings by April 27, 2024.

Previously, the Ontario Securities Commission (OSC) had issued a Failure-to-file Cease Trade Order (FFCTO) against Memex's securities on February 2, 2024, due to the company’s failure to meet the January 28, 2024 filing deadline. The delay was attributed to an inability to commence audit procedures on time. This FFCTO has caused a suspension in the trading of the company’s shares on the TSX Venture Exchange and is applicable across Canada due to reciprocal order provisions among jurisdictions.

To keep its stakeholders informed, Memex has committed to publishing bi-weekly default status reports until the Annual Financial Filings are submitted. The company assures that there are no other significant developments that have not been disclosed.