NEW YORK, NY / ACCESSWIRE / February 26, 2019 / Acamar Partners Acquisition Corp. (the ”Company”) announced today that it closed its initial public offering of 30,000,000 units, at $10.00 per unit, resulting in gross proceeds of $300,000,000. The Company’s units are listed on The Nasdaq Capital Market (”Nasdaq”) and began trading under the ticker symbol ”ACAMU” on February 22, 2019. Each unit consists of one share of the Company’s Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of the Class A common stock at a price of $11.50 per share. Only whole warrants will trade and be exercisable. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols ”ACAM” and ”ACAMW,” respectively.

The Company is a blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on the consumer and retail sectors.

Goldman Sachs & Co. LLC and Deutsche Bank Securities served as book-running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 4,500,000 units at the initial public offering price.

Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of warrants, $300,000,000 (or $10.00 per unit sold in the public offering) was placed in trust. An audited balance sheet of the Company as of February 26, 2019 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission (the ”SEC”).

The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282; telephone: (866) 471-2526; email: Prospectus-ny@ny.email.gs.com. Alternatively, a copy of the prospectus may be obtained from Deutsche Bank Securities Inc., Prospectus Group, 60 Wall Street, New York, NY 10005; telephone: (800) 503-4611; email: prospectus.CPDG@db.com.

A registration statement relating to these securities has been filed with, and declared effective by, the SEC on February 21, 2019. 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 these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute ”forward-looking statements,” including with respect to the anticipated use of the net proceeds. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact

Luis Ignacio Solorzano Aizpuru
Chief Executive Officer
Acamar Partners Acquisition Corp.
(786) 264-6680

SOURCE: Acamar Partners Acquisition Corp.

ReleaseID: 537121

WALNUT CREEK, CA / ACCESSWIRE / February 26, 2019 / ARC Document Solutions, Inc. (NYSE: ARC), a leading document solutions provider to design, engineering, construction, and facilities management professionals, today reported its financial results for the fourth quarter and full year ended December 31, 2018.

Financial Highlights:

Three Months Ended

Twelve Months Ended

December 31,

December 31,

(All dollar amounts in millions, except EPS)

2018

2017

2018

2017

Net
Sales

$
98.4

$
97.1

$
400.8

$
394.6

Gross
Margin

32.7
%

30.3
%

32.6
%

31.4
%

Net
income (loss) attributable to ARC

$
1.6

$
(12.2
)

$
8.9

$
(21.5
)

Adjusted net income attributable to ARC

$
1.6

$
0.9

$
8.5

$
6.8

Earnings (loss) per share – Diluted

$
0.04

$
(0.27
)

$
0.20

$
(0.47
)

Adjusted earnings per share – Diluted

$
0.03

$
0.02

$
0.19

$
0.15

Cash
provided by operating activities

$
24.9

$
15.6

$
55.0

$
52.4

EBITDA

$
12.1

$
11.3

$
51.0

$
33.2

Adjusted EBITDA

$
12.7

$
12.0

$
53.4

$
54.0

Capital Expenditures

$
4.5

$
1.9

$
14.9

$
9.1

Debt & Capital Leases (including current), net of unamortized deferred financing fees

$
127.2

$
144.4

Management Commentary

“ARC delivered overall revenue growth of 1.6% for 2018, driven by more than a 3% increase in sales from CDIM,” said K. “Suri” Suriyakumar CEO of ARC Document Solutions. “Considering that our primary strategic objective has been to protect print revenue in the face of declining volume, driving company-wide sales growth from print with the help of our technology initiatives is a remarkable achievement. We also capitalized on our growth by posting significant year-over-year improvements in gross margin, beating our own estimates for cash flow from operations and exceeding our earnings per share expectations.”

“Our performance also contributed to ARC achieving its target of annual adjusted EBITDA of $53.4 million despite our higher-than-usual medical costs,” Mr. Suriyakumar continued. “Absent those expenses for the year, annual adjusted EBITDA would have been nearly $3 million higher than our 2017 results. I’m very proud of our team.”

“Essentially, we did exactly what we planned to do, and ARC’s annual and quarterly performance demonstrated our success,” said Jorge Avalos, Chief Financial Officer for ARC Document Solutions. “We’ve delivered our third consecutive quarter of revenue growth, and our second consecutive quarter of adjusted EBITDA growth. Cash flow from operations for the quarter grew by $9.3 million, and EPS of four cents for the quarter contributed to our strong annual performance. With the additional debt reduction of $5 million during the quarter, we also continued to improve our capital structure.”

2018 Fourth Quarter Supplemental Information:

Net sales were $98.4 million, a 1.3% increase compared to the fourth quarter of 2017.

Architectural, engineering, construction and building owner/operators (AEC/O) customers comprised approximately 79% of our total net sales, while customers outside of construction made up approximately 21% of our total net sales.

Total number of MPS locations at the end of the fourth quarter has grown to approximately 10,500, a net gain of approximately 400 locations over Q4 2017.

Adjusted EBITDA excludes loss on extinguishment and modification of debt, goodwill impairment, and stock-based compensation expense.

Sales from Services and Product Lines as a Percentage of
Net Sales

Three Months Ended

Twelve Months Ended

December 31,

December 31,

Services and Product Line

2018

2017

2018

2017

CDIM

51.9%

51.6%

52.7%

52.0%

MPS

32.1%

32.7%

32.1%

32.8%

AIM

3.5%

3.1%

3.3%

3.2%

Equipment and supplies sales

12.5%

12.6%

11.9%

12.0%

Outlook

Management introduced its annual outlook for 2019, anticipating fully-diluted annual adjusted earnings per share to be in the range of $0.17 to $0.22; annual cash provided by operating activities is projected to be in the range of $47 million to $52 million; and annual adjusted EBITDA is forecast to be in the range of $52 million to $57 million.

Teleconference and Webcast

ARC Document Solutions will hold a conference call with investors and analysts on Tuesday, February 26, 2019, at 2 P.M. Pacific Time (5 P.M. Eastern Time) to discuss results for the Company’s 2018 fourth quarter and fiscal year. To access the live audio call, dial (877) 823-7014. The conference code is 7591655. A live webcast will also be made available on the investor relations page of ARC Document Solution’s website at http://ir.e-arc.com. A replay of the webcast will be available on the website following the call’s conclusion.

About ARC Document Solutions (NYSE: ARC)

ARC Document Solutions distributes documents and information to facilitate communication for design, engineering and construction professionals, real estate managers and developers, facilities owners, and a variety of similar disciplines. The Company provides cloud and mobile solutions, professional services, and hardware to help its customers around the world reduce costs and increase efficiency, improve information access and control, and communicate faster, easier, and better. Follow ARC at www.e-arc.com.

Forward-Looking Statements

This press release contains forward-looking statements that are based on current opinions, estimates and assumptions of management regarding future events and the future financial performance of the Company. Words and phrases such as “forecast,” “outlook,” “anticipate,” “projected,” and similar expressions identify forward-looking statements and all statements other than statements of historical fact, including, but not limited to, any projections regarding earnings, revenues and financial performance of the Company, could be deemed forward-looking statements. We caution you that such statements are only predictions and are subject to certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. In addition to matters affecting the construction, managed print services, document management or reprographics industries, or the economy generally, factors that could cause actual results to differ from expectations stated in forward-looking statements include, among others, the factors described in the caption entitled “Risk Factors” in Item 1A in ARC Document Solution’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017, Quarterly Reports on Form 10-Q, and other periodic filings and prospectuses. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Contact Information:

David Stickney
VP Corporate Communications & Investor Relations
925-949-5114

ARC Document Solutions, Inc.
Consolidated Balance Sheets
(In thousands, except per share data)
(Unaudited)

December 31,

December 31,

Current assets:

2018

2017

Cash
and cash equivalents

$
29,433

$
28,059

Accounts receivable, net of allowances for accounts receivable of $2,016 and $2,341

58,035

57,011

Inventories, net

16,768

19,937

Prepaid expenses

4,937

4,208

Other current assets

6,202

5,266

Total current assets

115,375

114,481

Property and equipment, net of accumulated depreciation of $199,480 and $198,693

70,668

64,245

Goodwill

121,051

121,051

Other
intangible assets, net

5,126

9,068

Deferred income taxes

24,946

28,029

Other
assets

2,550

2,551

Total assets

$
339,716

$
339,425

Current liabilities:

Accounts payable

$
24,218

$
24,289

Accrued payroll and payroll-related expenses

17,029

12,617

Accrued expenses

17,571

17,201

Current portion of long-term debt and capital leases

22,132

20,791

Total current liabilities

80,950

74,898

Long-term debt and capital leases

105,060

123,626

Other
long-term liabilities

6,404

3,290

Total liabilities

192,414

201,814

Commitments and contingencies

Stockholders’ equity:

ARC
Document Solutions, Inc. stockholders’ equity:

Preferred stock, $0.001 par value, 25,000 shares authorized;0 shares issued and outstanding

–

–

Common stock, $0.001 par value, 150,000 shares authorized;48,492 and 47,913 shares issued and 45,818 and 45,266 shares outstanding

48

48

Additional paid-in capital

123,525

120,953

Retained earnings

29,397

20,524

Accumulated other comprehensive loss

(3,351
)

(1,998
)

149,619

139,527

Less cost of common stock in treasury, 2,674 and 2,647 shares

9,350

9,290

Total ARC Document Solutions, Inc. stockholders’ equity

140,269

130,237

Noncontrolling interest

7,033

7,374

Total equity

147,302

137,611

Total liabilities and equity

$
339,716

$
339,425

ARC Document Solutions, Inc.
Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2018

2017

2018

2017

Service sales

$
86,140

$
84,867

$
353,300

$
347,326

Equipment and supplies sales

12,273

12,243

47,484

47,253

Total net sales

98,413

97,110

400,784

394,579

Cost
of sales

66,255

67,638

269,934

270,556

Gross profit

32,158

29,472

130,850

124,023

Selling, general and administrative expenses

27,342

25,349

109,122

101,889

Amortization of intangible assets

926

1,030

3,868

4,280

Goodwill impairment

–

–

–

17,637

Income from operations

3,890

3,093

17,860

217

Other
income, net

(18
)

(21
)

(81
)

(81
)

Loss
on extinguishment and modification of debt

–

–

–

230

Interest expense, net

1,444

1,500

5,880

6,179

Income (loss) before income tax provision

2,464

1,614

12,061

(6,111
)

Income tax provision

808

13,670

3,334

15,244

Net
income (loss)

1,656

(12,056
)

8,727

(21,355
)

(Income) loss attributable to noncontrolling interest

(44
)

(101
)

146

(156
)

Net
income (loss) attributable to ARC Document Solutions, Inc.
shareholders

$
1,612

$
(12,157
)

$
8,873

$
(21,511
)

Earnings (loss) per share attributable to ARC Document Solutions, Inc. shareholders:

Basic

$
0.04

$
(0.27
)

$
0.20

$
(0.47
)

Diluted

$
0.04

$
(0.27
)

$
0.20

$
(0.47
)

Weighted average common shares outstanding:

Basic

45,009

45,414

44,918

45,669

Diluted

45,218

45,414

45,050

45,669

ARC Document Solutions
Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2018

2017

2018

2017

Cash flows from operating activities

Net income (loss)

$
1,656

$
(12,056
)

$
8,727

$
(21,355
)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Allowance for accounts receivable

446

382

1,083

1,249

Depreciation

7,311

7,256

29,019

29,043

Amortization of intangible assets

926

1,030

3,868

4,280

Amortization of deferred financing costs

57

60

232

306

Goodwill impairment

–

–

–

17,637

Stock-based compensation

621

696

2,445

2,947

Deferred income taxes

953

12,757

3,128

13,802

Deferred tax valuation allowance

(211
)

543

(140
)

1,031

Loss
on extinguishment and modification of debt

–

–

–

230

Other non-cash items, net

(113
)

284

(314
)

(56
)

Changes in operating assets and liabilities:

Accounts receivable

3,827

1,752

(2,767
)

2,158

Inventory

1,446

(689
)

2,737

(1,339
)

Prepaid expenses and other assets

512

573

(1,814
)

(556
)

Accounts payable and accrued expenses

7,471

3,026

8,760

2,993

Net
cash provided by operating activities

24,902

15,614

54,964

52,370

Cash flows from investing activities

Capital expenditures

(4,467
)

(1,860
)

(14,930
)

(9,106
)

Other

139

278

695

744

Net
cash used in investing activities

(4,328
)

(1,582
)

(14,235
)

(8,362
)

Cash flows from financing activities

Proceeds from stock option exercises

–

22

–

96

Proceeds from issuance of common stock under Employee Stock Purchase Plan

27

30

127

133

Share
repurchases

–

(3,381
)

(60
)

(3,381
)

Contingent consideration on prior acquisitions

(60
)

(60
)

(236
)

(275
)

Early
extinguishment of long-term debt

–

–

–

(14,150
)

Payments on long-term debt agreements and capital leases

(5,831
)

(5,456
)

(23,031
)

(65,516
)

Borrowings under revolving credit facilities

7,625

8,250

16,875

63,100

Payments under revolving credit facilities

(11,500
)

(12,125
)

(32,375
)

(21,800
)

Payment of deferred financing costs

–

–

–

(270
)

Net
cash used in financing activities

(9,739
)

(12,720
)

(38,700
)

(42,063
)

Effect of foreign currency translation on cash balances

194

384

(655
)

875

Net
change in cash and cash equivalents

11,029

1,696

1,374

2,820

Cash
and cash equivalents at beginning of period

18,404

26,363

28,059

25,239

Cash
and cash equivalents at end of period

$
29,433

$
28,059

$
29,433

$
28,059

Supplemental disclosure of cash flow
information:

Noncash financing activities:

Capital lease obligations incurred

$
4,971

$
4,478

$
21,531

$
25,192

Contingent liabilities in connection with the acquisition of businesses

$
–

$
–

$
–

$
27

ARC Document Solutions, Inc.
Net Sales by Product Line
(In thousands)
(Unaudited)

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2018

2017

2018

2017

Service Sales

CDIM

$
51,119

$
50,052

$
211,389

$
205,083

MPS

31,594

31,782

128,775

129,479

AIM

3,427

3,033

13,136

12,764

Total services sales

86,140

84,867

353,300

347,326

Equipment and supplies sales

12,273

12,243

47,484

47,253

Total net sales

$
98,413

$
97,110

$
400,784

$
394,579

ARC Document Solutions, Inc.
Non-GAAP Measures Reconciliation of cash flows provided by
operating activities to EBITDA and Adjusted EBITDA
(In thousands)
(Unaudited)

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2018

2017

2018

2017

Cash
flows provided by operating activities

$
24,902

$
15,614

$
54,964

$
52,370

Changes in operating assets and liabilities

(13,256
)

(4,662
)

(6,916
)

(3,256
)

Non-cash expenses, including goodwill impairment

(1,753
)

(14,722
)

(6,434
)

(37,146
)

Income tax provision

808

13,670

3,334

15,244

Interest expense, net

1,444

1,500

5,880

6,179

(Income) loss attributable to noncontrolling interest

(44
)

(101
)

146

(156
)

EBITDA

12,101

11,299

50,974

33,235

Loss
on extinguishment and modification of debt

–

–

–

230

Goodwill impairment

–

–

–

17,637

Stock-based compensation

621

696

2,445

2,947

Adjusted EBITDA

$
12,722

$
11,995

$
53,419

$
54,049

See Non-GAAP Financial Measures discussion below.

ARC Document Solutions, Inc.
Non-GAAP Measures Reconciliation of net income (loss) attributable to ARC Document Solutions, Inc. shareholders to EBITDA and Adjusted EBITDA
(In thousands)
(Unaudited)

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2018

2017

2018

2017

Net
income (loss) attributable to ARC Document Solutions, Inc.
shareholders

$
1,612

$
(12,157
)

$
8,873

$
(21,511
)

Interest expense, net

1,444

1,500

5,880

6,179

Income tax provision

808

13,670

3,334

15,244

Depreciation and amortization

8,237

8,286

32,887

33,323

EBITDA

12,101

11,299

50,974

33,235

Loss
on extinguishment and modification of debt

–

–

–

230

Goodwill impairment

–

–

–

17,637

Stock-based compensation

621

696

2,445

2,947

Adjusted EBITDA

$
12,722

$
11,995

$
53,419

$
54,049

ARC Document Solutions, Inc.
Non-GAAP Measures Reconciliation of net income (loss) attributable to ARC to unaudited adjusted net income attributable to ARC
(In thousands, except per share data)
(Unaudited)

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2018

2017

2018

2017

Net
income (loss) attributable to ARC Document Solutions, Inc.
shareholders

$
1,612

$
(12,157
)

$
8,873

$
(21,511
)

Loss
on extinguishment and modification of debt

–

–

–

230

Goodwill impairment

–

–

–

17,637

Income tax benefit related to above items

–

–

–

(3,194
)

Deferred tax impact due to new tax laws, valuation allowance and other discrete tax items

(51
)

13,069

(341
)

13,663

Unaudited adjusted net income attributable to ARC Document Solutions, Inc.

$
1,561

$
912

$
8,532

$
6,825

Actual:

Earnings (loss) per share attributable to ARC Document Solutions, Inc. shareholders:

Basic

$
0.04

$
(0.27
)

$
0.20

$
(0.47
)

Diluted

$
0.04

$
(0.27
)

$
0.20

$
(0.47
)

Weighted average common shares outstanding:

Basic

45,009

45,414

44,918

45,669

Diluted

45,218

45,414

45,050

45,669

Adjusted:

Earnings per share attributable to ARC Document Solutions, Inc. shareholders:

Basic

$
0.03

$
0.02

$
0.19

$
0.15

Diluted

$
0.03

$
0.02

$
0.19

$
0.15

Weighted average common shares outstanding:

Basic

45,009

45,414

44,918

45,669

Diluted

45,218

45,804

45,050

46,207

See Non-GAAP Financial Measures discussion below.

Non-GAAP Financial Measures

EBITDA and related ratios presented in this report are supplemental measures of our performance that are not required by or presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). These measures are not measurements of our financial performance under GAAP and should not be considered as alternatives to net income, income from operations, or any other performance measures derived in accordance with GAAP or as an alternative to cash flows from operating, investing or financing activities as a measure of our liquidity.

EBITDA represents net income before interest, taxes, depreciation and amortization. EBITDA margin is a non-GAAP measure calculated by dividing EBITDA by net sales.

We have presented EBITDA and related ratios because we consider them important supplemental measures of our performance and liquidity. We believe investors may also find these measures meaningful, given how our management makes use of them. The following is a discussion of our use of these measures.

We use EBITDA to measure and compare the performance of our operating segments. Our operating segments’ financial performance includes all of the operating activities except debt and taxation which are managed at the corporate level for U.S. operating segments. We use EBITDA to compare the performance of our operating segments and to measure performance for determining consolidated-level compensation. In addition, we use EBITDA to evaluate potential acquisitions and potential capital expenditures.

EBITDA and related ratios have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analysis of our results as reported under GAAP. Some of these limitations are as follows:

They do not reflect our cash expenditures, or future requirements for capital expenditures and contractual commitments;
They do not reflect changes in, or cash requirements for, our working capital needs;
They do not reflect the significant interest expense, or the cash requirements necessary, to service interest or principal payments on our debt;
Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and EBITDA does not reflect any cash requirements for such replacements; and
Other companies, including companies in our industry, may calculate these measures differently than we do, limiting their usefulness as comparative measures.

Because of these limitations, EBITDA and related ratios should not be considered as measures of discretionary cash available to us to invest in business growth or to reduce our indebtedness. We compensate for these limitations by relying primarily on our GAAP results and using EBITDA and related ratios only as supplements.

Our presentation of adjusted net income and adjusted EBITDA is an attempt to provide meaningful comparisons to our historical performance for our existing and future investors. The unprecedented changes in our end markets over the past several years have required us to take measures that are unique in our history and specific to individual circumstances. Comparisons inclusive of these actions make normal financial and other performance patterns difficult to discern under a strict GAAP presentation. Each non-GAAP presentation, however, is explained in detail in the reconciliation tables above.

Specifically, we have presented adjusted net income attributable to ARC and adjusted earnings per share attributable to ARC shareholders for the three and twelve months ended December 31, 2018 and 2017 to reflect the exclusion of loss on extinguishment and modification of debt, goodwill impairment, and changes in the valuation allowances related to certain deferred tax assets and other discrete tax items, including the impact of new tax laws enacted in 2017. This presentation facilitates a meaningful comparison of our operating results for the three and twelve months ended December 31, 2018 and 2017.

We have presented adjusted EBITDA for the three and twelve months ended December 31, 2018 and 2017 to exclude loss on extinguishment and modification of debt, goodwill impairment, and stock-based compensation expense. The adjustment of EBITDA for these items is consistent with the definition of adjusted EBITDA in our credit agreement; therefore, we believe this information is useful to investors in assessing our financial performance.

SOURCE: ARC Document Solutions, Inc.

ReleaseID: 537115

BURLINGTON, ON / ACCESSWIRE / February 26, 2019 / Memex Inc. (”Memex” or the ”Company”) (TSX-V: OEE), a global leader in Industrial Internet of Things (IIoT) manufacturing productivity software, is pleased to announce it has signed a non-binding term sheet with affiliates of G&G Private Capital (”G&G”) (for up to $1.4 million) and Officers of Memex (for up to $100 thousand) (collectively the ”Lenders”), for a total of $1.5 million dollars (collectively, the ”Loan”), with G&G currently going through their due diligence process. Provided G&G agrees to proceed, the first tranche of the loan would be for an aggregate amount of $750 thousand ($700 thousand from G&G and $50 thousand from Company Officers). Subsequent drawdowns will be done in the same ratio between G&G and Company Officers and will be available to the Company beginning after 12 months from the initial drawdown subject to the Company achieving specific operational milestones primarily related to bookings and revenue.

Outstanding principal of the Loan would bear interest at a rate of Royal Bank Prime Rate + 8% per annum payable in cash or, with a 35% premium to the cash price, payable in common shares of the Company (the ”Shares”), the Shares being valued at the closing price of the Company’s Shares as traded on the TSX Venture Exchange on the last trading day preceding payment. Drawdown fees of 1.5% of the value of each tranche would also be payable at the time of drawdown. No repayment of outstanding principal would be required in the first twelve months of the Loan which would mature 36 months from the closing date. The proceeds of the Loan will be used by the Company to support ongoing operations. The Loan would be secured by a first charge general security agreement against Company assets.

In connection with the proposed Loan, the Company would also issue the Lenders non-transferable Share purchase warrants (the ”Warrants”) with each drawdown. For the first $750 thousand the Lenders would receive a total of 3.75 million Warrants (3.5 million to G&G ) exercisable at $0.05. The number of Warrants issued for any subsequent tranches would be equivalent to the number obtained by dividing 1/4 (25%) of the drawdown amount by the closing price of the Company’s Shares as traded on the TSX Venture Exchange on the last trading day prior to the drawdown. These Warrants would have an exercise price equivalent to that trading value. Expiry of the Warrants would coincide with the maturity of the Loan. Issuance of the Warrants is a condition of closing of the financing and is subject to the acceptance of the TSX Venture Exchange.

”Memex is very pleased to undertake this financing arrangement,” said David McPhail, Memex CEO. ”G&G’s knowledge of the software industry and their experience in the capital markets will provide tremendous strategic value.”

”Given the strength of Memex’s leadership team, their technology platform and their market presence within the digitally driven manufacturing and Industrial Internet of Things marketspace, we believe Memex is uniquely positioned with significant potential,” said Gregory Ellis, G&G Principal. ”This financing will strengthen Memex’s balance sheet and secure their position as they expand their market dominance.”

About G&G Private Capital:

G&G Private Capital Inc. (”G&G”), based in Toronto, Canada is an independent finance and investment company that provides private and public companies with debt and/or equity financing. G&G’s principals are experienced business people and former entrepreneurs focused on the capital and investments needs of high-growth technology companies. G&G works with profitable and near-profitable organizations and aligns itself with the long-term interests of its 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 challenges 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

Forward-Looking Statements

Statements relating to the initial closing of the financing or any subsequent drawdowns are forward-looking statements. However, the initial closing of the financing is subject to the lenders being satisfied with the results of their due diligence review, the execution of definitive binding documentation and the satisfaction of certain conditions precedent including, but not limited to, the acceptance of the TSX Venture Exchange. Further, any subsequent drawdowns will be subject to the Company achieving specific operational milestones primarily related to bookings and revenue. There can be no guarantee that closing of the financing will occur or, of closing does occur, that the Company will be able to achieve the milestones required for additional drawdowns. No forward-looking statement 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 statements are 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 these forward-looking statements 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.

SOURCE: Memex Inc.

ReleaseID: 537136

SAINT JOHN, NEW BRUNSWICK / ACCESSWIRE / February 26, 2019 / True North Seafood and Sequential Brands Group, Inc. are pleased to announce a new collaboration to develop the Martha Stewart for True North Seafood product line, which is scheduled to launch next month.

“Knowing where my seafood comes from is very important to me, and I’ve enjoyed and served True North Seafood to family and friends for years,” said Martha Stewart. “After visiting True North’s salmon farms near my Skylands home in Maine, I saw first-hand their innovative and industry leading methods of sustainable farming and fishing. Their passion for the environment and community is why they are one of North America’s largest and most trusted producers of fresh farmed and wild caught seafood from the Gulf of Alaska to the Atlantic.”

The product line offers an array of True North Seafood product that are each accompanied by a Martha Stewart signature butter flavor or spice blend. Packaging will also include an easy to follow recipe created by Martha’s Test Kitchen.

“We are thrilled to be launching this new product line in partnership with the Martha Stewart team,” said Glenn Cooke, CEO of Cooke Inc. “It is great for us to be able to work with Martha’s team to bring delicious, well thought-out meals to all tables, even those who have busy schedules and minimal prep time.”

The full product line includes: Atlantic Salmon with Lemon Herb Butter, Sockeye Salmon with Miso Butter, Wild Alaska Pollock with Southwest Spice Blend, and a Seafood Medley (Wild Alaska Pollock, Atlantic Salmon, and Bay Scallops) with Herb Spice Blend.

“This line is all about convenience and quality product,” said Andrew Young, Vice President of Global Sales and Marketing, True North Seafood. “It is a perfect option for existing seafood customers while encouraging new customers who may not be as comfortable buying or preparing seafood to shop the category.”

The product line will be showcased at the Seafood Expo North America in Boston on March 17-19 and available through US grocery retail starting May 2019.

About True North Seafood.

True North Seafood is one of the largest and most trusted providers of seafood in North America. Family-owned and operated, True North Seafood is a vertically-integrated leader in both farmed and wild seafood. Under the Cooke family of brands, True North Seafood has access to a network of 17 core species from Atlantic Canada, United States, Chile, Scotland, Spain, Uruguay, Honduras and Nicaragua. True North Seafood is proud to offer products that meet certifications such as; Best Aquaculture Practices (BAP), Soil Association Organic, BRC Global Standards, Marine Stewardship Council (MSC) and Certified Responsible Fisheries (Alaska Seafood). For the second year in a row, Cooke Inc. earned the #1 spot on the SeafoodSource list of Top 10 North American Seafood Suppliers. www.truenorthseafood.com

About Sequential Brands Group, Inc.

Sequential Brands Group, Inc. owns, promotes, markets, and licenses a portfolio of consumer brands in the fashion, active and home categories, which includes the Martha Stewart brand. Sequential seeks to ensure that its brands continue to thrive and grow by employing strong brand management, design and marketing teams. Sequential has licensed and intends to license its brands in a variety of consumer categories to retailers, wholesalers and distributors in the United States and around the world. For more information, please visit Sequential’s website at: www.sequentialbrandsgroup.com.

SOURCE: True North Seafood

ReleaseID: 537126

COOPERSTOWN, NY / ACCESSWIRE / February 26, 2019 / The National Baseball Hall of Fame and Museum announced today it has selected Learfield Licensing Partners Specialty Brands to be the exclusive licensing representative for its organization and members. Under the new relationship, Learfield Licensing Partners Specialty Brands will manage the Hall’s licensing assets – highlighted by its signature program, the Hall of Fame Member Licensing Program.

The Hall of Fame Member Licensing Program was established in 1996 to generate market exposure and royalty revenue for participating Hall of Fame members while providing a revenue source to fund the Museum’s nonprofit educational mission. The program combines the rights to Hall of Fame logos and trademarks with those of 89 participating Hall of Fame members including Tony Gwynn, Reggie Jackson, Cal Ripken, Nolan Ryan, Tom Seaver and Ozzie Smith.

In addition to maximizing exposure for the Hall of Fame members and the National Baseball Hall of Fame and Museum, this new alignment will help secure strong partnerships for licensed products across various categories and retail channels. Learfield Licensing Partners Specialty Brands is a boutique trademark management area focused on sports, fitness and arts within the new Learfield IMG College corporate structure.

“We are very excited to work with Learfield Licensing Partners Specialty Brands,” said Sean Gahagan, Baseball Hall of Fame vice president of retail merchandising and licensing. “As a leader in the sports licensing industry, Learfield Licensing Partners Specialty Brands brings a wealth of experience that will help take our licensing programs to the next level.”

Along with handling the National Baseball Hall of Fame’s trademark licensing program’s day-to-day management duties, Learfield Licensing Partners Specialty Brands will utilize licensing and marketing agreements to stimulate fan connectivity and engagement to grow awareness. Celebrating its Hall of Fame members and the National Baseball Hall of Fame’s prestige will generate co-branding opportunities and increased visibility.

“As lifelong baseball fans, we are thrilled and honored to represent the National Baseball Hall of Fame and Museum’s licensing rights,” said Bob Bernard, president and CEO of Learfield Licensing Partners Specialty Brands. “We have great appreciation for the dedication and mastery required for these legendary athletes to make it to the pinnacle of their profession. We are excited to have the National Baseball Hall of Fame as our newest client and look forward to assisting its members grow their brands and connect with new fans.”

The National Baseball Hall of Fame and Museum is an independent nonprofit educational institution, dedicated to fostering an appreciation of the historical development of baseball and its impact on our culture by collecting, preserving, exhibiting and interpreting its collections for a global audience as well as honoring those who have made outstanding contributions to our National Pastime. The National Baseball Hall of Fame opened on June 12, 1939 and has stood as the definitive repository of the game’s treasures and as a symbol of the most profound individual honor bestowed on an athlete. It is every fan’s “Field of Dreams,” with its stories, legends and magic shared from generation to generation.

CONTACT:

PR Contact:

Jon Shestakofsky, VP Communications & Education
jshesta@baseballhall.org
Justin Whitaker, Content Marketing Manager
jwhitaker@learfieldlicensing.com

SOURCE: The National Baseball Hall of Fame and Museum

ReleaseID: 537127

Key Display Supplier Holitech Adds 3D Capture Capabilities with Lucid’s AI Technology to Its Glasses-Free 3D Screen Protector

SANTA CLARA, CA / ACCESSWIRE / February 26, 2019 / Holitech Technology Co. (Holitech), a leader in the manufacturing and supply of touch screens for the majority of mid-tier smartphones, and Lucid, the AI vision startup providing 3D and depth software solutions for mobile multi-camera devices, are introducing the first affordable screen protector which allows any smartphone to display glasses-free 3D content and capture through an app. At the cost of a regular screen protector, the thin transparent film, called Holoscreen, does not just save your smartphone from cracks, but also turns its display magically into a 3D TV. Now with its app you can also capture and record immersive content yourself. The Holoscreen will be demonstrated at Mobile World Congress at the Lucid booth D2.4 in hall 4YFN Montjuice Hall M8.

With 1.5 billion smartphones sold and shipped every year, the potential for such simple and affordable 3D content viewing, capturing and sharing is huge, and because the screen protector and app can even be used on older smartphone models, the market for this unique solution is substantially larger.

”While the 3D and VR/AR industry were struggling with the burden of wearing glasses and headsets as well as the lack of content, there is now this new wave of high-end smartphones coming which makes immersive content consumption and creation as simple as ever,” said Han Jin, CEO/Co-founder at Lucid. ”Such simple solutions as the screen protector are essential to create a bridge between the state the industry is in right now to where 3D and VR/AR are going. It completely removes the friction for consumers.”

Mid-tier smartphones will have 3D capture capabilities by incorporating Lucid’s newest software solution, Andromeda–a more mobile-friendly processing and energy efficient version of its 3D Fusion Technology which runs on high-end processing chips. “After launching on top-tier devices last year, we kept innovating to create a lighter version of our 3D Fusion Technology to penetrate the market. Andromeda will not meet some of the requirements of high-end cinematic 3D content devices, but it was a perfect match to Holitech’s simple screen protector solution as it consumes less battery and runs on lower-processing chips,” explained Sheldon Fernandes, Head of Computer Vision at Lucid.

Fitting perfectly on many different smartphone shapes and sizes, both iOS and Android, while being clear and tough, the Holoscreen does not alter the current smartphone 2D screen. However, when the accompanying app is opened, you can take your own 3D pictures and videos instantly, as well as watch movies which are remarkably crisp and clear–without any glasses or headsets–giving you the feeling of objects coming out of the screen towards you.

”We are very excited about this partnership, as it will help to significantly increase the amount of available content to view through our glasses-free 3D protector screens, because with Lucid’s technology everyone can just easily capture their own imagery,” said Giovanni Suero, Executive Director of Business Development at Holitech. “Lucid’s capability to integrate and make 3D capture work on any phone impressed us and the demand for our combined solution is overwhelming.”

While the app and screen protector will be available in the second half of the year, costing around $30, you can already sign up for the Holoscreen now (https://www.holoscreenprotector.com/). Holitech and Lucid will be demonstrating their newest screen protector and 3D capture technology at Mobile World Congress in Barcelona, Spain. To experience it yourself visit booth D2.4 in hall 4YFN Montjuice Hall M8.

Images here: https://drive.google.com/open?id=1myEvhsocQRLKc_Q4SZK-szJIqXQLEMb1

About Holitech

Holitech is a leading manufacturer and solution provider in the electronic display field. Our services include the design, development and production of Liquid Crystal Displays, Touch Displays, Intelligent Hardware Products as well as post production support. From humble beginnings in 2004, Holitech has grown into a $3B+ organization with over 25k employees and office locations in China, India, Germany and the US, and its displays being used in millions of phones worldwide.

About LUCID

Lucid is a leading AI vision startup developing software solutions for 3D capture and depth sensing based on machine learning. Leveraging only dual/multi-camera setups, 3D Fusion Technology has been deployed in millions of devices in mass production from mobile phones to 3D cameras to robots, drones, security and other smart camera systems. Lucid’s easily-integrated SDK allows standard cameras to outperform emission-based hardware depth systems in cost, space and development by training in the cloud and inferring depth on the edge. For more information, visit lucidinside.com.

Media Contact:

Erica Zeidenberg
Hot Tomato Marketing
erica@hottomato.net
925-518-8159 – mobile
925-631-0553 – office

SOURCE: Lucid

ReleaseID: 537125

Black History Month Announcement Touts Plans for Broadway Musical, Feature Film, Hollywood Walk of Fame Star and U.S. Postal Stamp Renewal

NEW YORK, NY / ACCESSWIRE / February 26, 2019 / The profound and pioneering legacy of singer/songwriter/entertainer Bessie Smith, “The Empress,” is being gloriously prepped for a richly deserved and long overdue turn in the spotlight. A rollout of career-defining projects will make Bessie’s name, life and story as relevant and indelible today as when the artist dominated the recording and performing world’s in the 1920s. Upon the induction of Smith’s granddaughter, Beverly Ann Clarke, as an honorary member to the board of The Bessie Smith Cultural Center in Chattanooga, Tennessee – by unanimous agreement – plans are underway for monumental memorials in Bessie Smith’s honor.

These projects – already in development – include a full-scale musical play (i.e. Bessie on Broadway), a feature length theatrical motion picture (i.e. Bessie on the Big Screen), a prominently positioned star on the Hollywood Walk of Fame, and a re-establishment of her U.S. postal stamp, first minted in 1994. All of these works in progress follow the phenomenal success of the 2015 HBO made-for-television film “Bessie” (starring Queen Latifah) that garnered 24 prestigious industry awards including Emmy, Golden Globe, SAG and NAACP Image Awards honors. Partners in the Bessie Smith Estate include Sony Music Entertainment and Paul McCartney’s MPL Communications (umbrella company for the former Beatle’s business interests).

Before the Great Depression, Bessie was the highest paid black entertainer in the world, collecting as much as $2,000 a week to sing her compositions “Nobody Knows You When You’re Down and Out,” “Empty Bed Blues” and more, accompanied by music legends such as Louis Armstrong and Benny Goodman.

As the sole living heir to the estate of Bessie Smith, Beverly Ann Clarke could not be more-proud of the accolades or more excited for all that is yet to come. Clarke’s greatest dream is for the establishment of a Bessie Smith Foundation that will not only oversee the continuance of Bessie’s legacy but also be a launching space of discovery and support for exceptionally talented singers hailing from Chattanooga, TN where Bessie was born and Philadelphia which she called home. “My goal is for the foundation to establish generous arts scholarships to assist the finest singers and entertainers of tomorrow as they make their generations aware of the greatness of Bessie Smith who proudly paved the way before them,” Clarke states.

Overseeing the implementation of these plans is Lindsay Guion, Senior Advisor to the Bessie Smith Estate (as well as Jack Gee, Jr., Bessie’s son). “In this time of Black History Month,” Guion notes, “it is my honor to represent and push forward the legacy of Empress Bessie Smith – the woman who single-handedly saved Columbia Records (formerly CBS Records now Sony Music Entertainment) back in its 1920s recorded music infancy. The world needs to remember that Bessie Smith was to Columbia Records what Nat ‘King’ Cole later was to Capitol Records: a soulful saving grace.”

For more information, contact:

GUION PARTNERS, INC.
Public Relations Department
55 Wall Street
New York, NY 10005
+1.212.851.3730

SOURCE: GUION PARTNERS, INC.

ReleaseID: 537113

SAN DIEGO, CA / ACCESSWIRE / February 26, 2019 / With more individuals struggling with crippling amounts of student or consumer debt than ever before, it’s time to come up with a positive solution. Companies like Beacon Management Services have made businesses out of helping people make sound financial decisions to help get them back on track for financial security and a positive financial future. Making the right financial decisions is not in everyone’s wheelhouse, and that is why the professionals at Beacon can help with every choice made along the journey towards financial rehabilitation.

Why Choose Beacon Management Services?

While there are numerous companies that specialize in financial guidance in the market, not all are created equal. The Beacon team is 100-percent committed to helping each and every client reach their financial goals through a process of sound advice and decision making. The Beacon team will assess your financial situation and will work hand-in-hand with you to create a plan that will get you started on the road to reaching your financial goals for the future.

Beacon Management Services and the Services They Provide

The Beacon Management team performs a variety of services for their clients. From assessing the financial status of their clients and their financial goals to answering questions about how best to proceed, Beacon provides superior credit monitoring and and financial rehabilitation.

Credit Monitoring

Anyone wanting to have a bright financial future knows the importance of a decent credit score. Beacon will customize a 24/7 credit-maintenance platform to help keep you abreast of any changes to your report or score. This program will also advise you on how certain reported items impact your credit score.

With the growing threat of identity theft in this digital age, the Beacon credit-monitoring alert will allow you to be in constant control regarding any sketchy activity that could adversely affect your credit rating.

Beacon’s customizable program, informative approach, and state-of-the-art technology helps their clients move through their system with ease. The steps taken will ensure a healthy credit score and enable individuals to achieve their financial goals for the future.

Financial Rehabilitation

In order to get a stronger grip on your finances, the Beacon team will help assess your current financial health in the hopes that a brighter financial future is possible. With Beacon’s help, your finances will be monitored from the ground up to ensure a positive foundation is laid for the future.

At Beacon, one of their priorities is not just to guide, but to teach. Their educational approach aims to empower their clients to make better financial decisions on their own and into the future. Beacon’s professional advisors have the ultimate goal of making their clients fully understand financial decisions that add up to a brighter financial future.

If you are trying to get a grip on your finances, you don’t have to go it alone. Beacon Management Services has made a name for themselves based on providing their clients with financial guidance under the umbrella of information and empowerment. Through credit monitoring and financial rehabilitation, the Beacon advisors help their clients regain financial control.

Contact:

info@beacon-ms.com

SOURCE: Beacon Management Services

ReleaseID: 536196

Fast-Growing Fintech Company Hires Financial Services Executive to Add to Its Talented Team

CHARLOTTESVILLE, VA / ACCESSWIRE / February 26, 2019 / On the heels of its Series B funding announcement earlier this month, ChartIQ today announces it has added a new executive to its growing roster of finance technology experts – many of whom built their careers in traditional financial services. Eugene M. Sorenson, a 20-year veteran of product management and User Experience (UX) design, joins the company as vice president of product management.

”Eugene is uniquely qualified to lead our charting product team with valuable skills in both delivering tools for financial analysis, and in UX design for charting and visualization,” said Dan Schleifer, CEO and co-founder of ChartIQ. ”His previous leadership experience at major financial information and technology companies, and his entrepreneurial background are the right fit for our fast-growing company. He believes in our ‘smart desktop’ approach as financial services undergoes a significant digital shift over the coming years.”

Sorenson was most recently a director of product management at Bloomberg, where he managed the business strategy for the foundational applications product suite, which includes charting, graphics, Launchpad and desktop APIs. He led teams comprised of product managers, engineers and UX designers who provided day-to-day management of the company’s core product offering. Sorenson also led the initiative to revolutionize Bloomberg’s charting and technical analysis application. It is now an award-winning platform and considered an industry benchmark. Additionally, he has 10 years of experience as a trader, analyst, and a broker.

”As the finance world moves away from legacy terminals and traditional solutions, I believe in ChartIQ’s vision for the future, which includes smart desktop platforms like Finsemble,” said Sorenson. ”I look forward to joining ChartIQ’s growing team that emphasizes quality products and client needs. Its thoughtful approach to design and client experience is evident, and something that’s necessary as financial services firms embrace innovative solutions.”

Sorenson will be responsible for leading efforts to define the future of ChartIQ’s charting product vision and its expanding list of customers. The company’s products include its Finsemble platform and Finsemble Ecosystem; as well as its world-renowned HTML5 charting software. Finsemble, ChartIQ’s newest product, is a desktop integration platform that connects disparate applications – modern and legacy – into one unified desktop solution.

The hire follows the recent announcement of ChartIQ’s $17.4 million Series B funding round led by German investor Digital+ Partners. Existing investors, such as Illuminate Financial Management, Social Leverage and ValueStream Ventures, also contributed additional investment. ChartIQ has raised over $20 million in funding since its founding in 2012.

About ChartIQ

ChartIQ provides software to help the finance world work smarter. The maker of the industry’s most powerful HTML5 financial charts, ChartIQ also delivers Finsemble, a desktop integration platform that links any application together to create modern, smart desktops. ChartIQ’s solutions are built in current web technology to help firms innovate faster, saving them time and money. Founded in 2012, ChartIQ is a fast-growing firm based in Charlottesville, VA with offices in New York and London. Some of the largest financial institutions are among their 300 global customers. For more information, please visit: https://www.chartiq.com.

Media Contact:

Stephen Sumner
Caliber Corporate Advisers
888-550-6385 ext. 15

SOURCE: ChartIQ

ReleaseID: 537101