Slyce Inc. Announces $5.3 Million Bought Deal Financing

TORONTO, ONTARIO--(Marketwired - April 24, 2015) -

Editors Note: There is a video associated with this press release.

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Slyce Inc. (TSX VENTURE:SLC) ("Slyce" or the "Company") announced today that it has entered into an agreement with a syndicate of underwriters co-led by Salman Partners Inc. and Beacon Securities Limited, and including PI Financial Corp. (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, 11,500,000 common shares (the "Common Shares") of the Company at a price of $0.46 per Common Share (the "Issue Price") for aggregate gross proceeds to Slyce of $5,290,000 (the "Offering").

The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional number of Common Shares (the "Additional Shares") equal to 15% of the Common Shares sold pursuant to the Offering at a price per Additional Share equal to the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional $793,500 in gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be $6,083,500.

The Common Shares will be offered by way of a short form prospectus to be filed in British Columbia, Alberta, and Ontario. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes. The Offering is expected to close on or about May 14, 2015 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. 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 the securities in any State in which such offer, solicitation or sale would be unlawful.

About Slyce

The Corporation is a visual search technology company based in Toronto, Ontario and is engaged in the business of providing advanced visual search software that allows consumers to purchase products at the moment they discover them ‐ in the physical world and online. Slyce powers mobile visual search for several leading retailers including Neiman Marcus and Tilly's.

Slyce has developed an advanced visual search platform that integrates with retail brands and digital content providers to give their customers the ability to instantly discover and purchase products that inspire them by simply snapping photographs with their smartphones or 'clicking' images on either their smartphones (mobiles) or desktop web browsers.

Slyce's strategy is to position itself as a pivotal player in the emerging visual web. Slyce will provide its technology to retailers, brands, app developers and digital publishers, enabling their apps to recognize products for instant purchase. Slyce will provide its technology in exchange for integration, licensing and per search fees, percentage sales splits and big data provision and analysis. Slyce is currently working with a growing list of fortune 1000 brands and companies as well as multiple innovative developers.

Slyce is also listed on the Frankfurt exchange trading under (06O1.F).

For image download and further company information please click for the Slyce Media Kit.

READER ADVISORY

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements in this press release contain forward‐looking information including, without limitation, Slyce's business plan, the Offering, strategy and related milestones, Slyce's suggestions of future outcomes, the future use and development of its technology, future customers and business partners. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward‐looking statements. The forward‐looking statements are founded on the basis of expectations and assumptions made by Slyce.

Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Slyce.

Slyce does not undertake any obligation to update or revise any forward‐looking statements except as expressly required by applicable securities laws.

None of the information contained on, or connected to, Slyce's website is incorporated by reference herein.

To view the video associated with this press release, please visit the following link: https://www.youtube.com/watch?v=cJupFMy9Ugg