TORONTO, Aug. 25, 2014 /CNW/ - Sprylogics International
Corp. ("Sprylogics" or the "Company") (TSXV: SPY) is pleased to
announce that it has completed the issuance of a total of
CAD$500,000 principal amount
unsecured debentures (the "Debentures") financing. The Debentures
will bear interest at 10% per annum and mature 12 months from
closing. The holders of the Debentures have also received an
aggregate of 666,666 common shares of the Company in connection
with the issuance of the Debentures.
All of the securities issued in connection with the financing
are subject to a hold period of four months and a day from the date
of issuance.
About Sprylogics
Sprylogics International Corp. enables telecom operators,
messaging and mobile application providers to introduce new revenue
streams into their apps with its "Poynt-Enabled" SDK.
"Poynt-Enabled" brings monetization related to the user's search
intent, while increasing loyalty, engagement and usage activity
levels. Sprylogics semantically aggregates and distributes useful
local content by making it searchable via its patented geographical
and contextual targeting technology.
Sprylogics also markets Poynt; an award winning, all-in-one
mobile local search App that has garnered over 20 million
downloads. Both products have a common focus on enhancing the
mobile user experience, enabling users to do more "without leaving
the app", while monetizing via local search results and
transactions.
Visit www.sprylogics.com, or follow @poynt on Twitter.
Download the Poynt App on your smartphone at
http://m.poynt.com.
Neither 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.
Cautionary and Forward-looking Statements
- Statements contained in this news release, which are not
historical facts, are forward-looking statements that involve risk,
uncertainties and other factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. All forward-looking statements included in
this news release are based on information available to the Company
on the date hereof. Forward-looking statements are subject to
known and unknown risks, uncertainties and other factors that could
cause actual results of Sprylogics to differ materially from the
conclusion, forecast or projection stated in such forward-looking
statements. These risks, uncertainties and other factors include,
but are not limited to factors referenced in Sprylogics' other
continuous disclosure filings, which are available
at www.sedar.com. Readers should not place undue reliance on
these forward-looking statements. The Company assumes no obligation
to update any forward-looking statements, except as required by
applicable securities laws.
SOURCE Sprylogics International Corp.