Sprylogics International Announces the Repayment of Debenture and Strategic Outlook
2011年5月31日 - 4:55AM
Marketwired
Sprylogics International Corp. ("Sprylogics" or the "Company") (TSX
VENTURE: SPY) is pleased to announce that following the completion
of its previously announced non-brokered private placement of
approximately $2.6 million the Company has made a full repayment of
its outstanding debenture and interest. The debenture, in default
since October 2010, was repaid in full with interest.
As consideration for the extension of the maturity date of the
debenture, by the lender, the Company has issued the lender 1.2
million shares.
Going forward, the Company is focused on monetizing the Cluuz
technology in a number of channels including its current account
base of Fortune 500 and Fortune 100 clients. The unmistakable
growth in search analytics has attracted significant interest to
the Cluuz technology which can perform customized analytics for
both consumer and corporate markets alike.
There are 3 core technologies driving Sprylogics' revenue now
and into the future:
1) Cluuz Search Engine platform: Enables both consumers and
corporate users to methodically search the Internet and internal
corporate resources to find the information they are looking for.
Cluuz search results are visually displayed through patent pending
semantic graphs and result in improved decision making
capabilities. See www.cluuz.com.
2) Cluuz Data platform: By processing publicly available data
through its Cluuz semantic and natural language and relationship
engine, the Company is creating vertical specific enriched data
sets that can be utilized for the purposes of improving search
engine relevance as well as better content targeting. The data will
be made available to independent developers through metered APIs as
well as to large organizations on licensing basis.
3) TrakEnterprise and TrakWeb: Devesys Technologies Inc., the
Company's wholly-owned subsidiary, has been developing case
management, tracking and reporting systems for Fortune 500
companies since 1995. TrakEnterprise and TrakWeb are widely
regarded as the standards of excellence for the industry. See
www.devesys.com
About Sprylogics International Corp.
Sprylogics International develops advanced search, analysis, and
compliance technology. These solutions provide case management
tools to the Fortune 500. Additionally, Sprylogics' products search
large amounts of unstructured data on the web, and in internal
corporate databases, and convert it into more relevant searches for
a variety of applications. The core technology driving Sprylogics'
solutions is embedded in the Cluuz Search Engine platform. Cluuz
search results are visually displayed through patent pending
semantic cluster graphs and result in improved decision-making
capabilities. Find out more at www.sprylogics.com, and
www.cluuz.com.
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. All statements regarding the Company's
ability to monetize the Cluuz technology and other proprietary
technologies owned by the Company are forward-looking statements
and involve various risks and uncertainties. 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. The Company assumes no obligation
to update any forward-looking statements, except as required by
applicable securities laws.
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.
Contacts: Sprylogics International Corp. Michael Frank CEO (416)
677-9277 Michael@sprylogics.com
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