Sprylogics Announces Proposed $600,000 Private Placement of Common Shares



    
    Trading Symbol: SPY
    Exchange: TSX Venture Exchange
    

    TORONTO, May 27 /CNW/ - Sprylogics International Corp. (the "Company")
(SPY - TSX Venture) announced today that it has entered into a term sheet with
respect to a private placement offering of 17,142,857 common shares at $0.035
per share. Subject to the subscriber completing its due diligence, a closing
is expected to occur within the next two weeks in regard to 5,714,285 common
shares. The balance of the offering will be completed upon the Company
receiving the requisite shareholder approval, which is expected to occur in
the next 90 days.
    The closing of the sale of common shares is subject to receipt of all
necessary regulatory approvals including that of the TSX Venture Exchange.
    Proceeds of the Offering will be used to fund general working capital
purposes.

    About Sprylogics International Corp.

    Sprylogics International Inc. develops advanced search, analysis, and
information display tools and services. These solutions enable users to search
large amounts of unstructured data on the web, and in internal corporate
databases, find the information they are looking for, and convert it into
actionable intelligence. The core technology driving Sprylogics' solutions is
embedded in the Cluuz Search Engine platform. Cluuz search results are
visually displayed through patent pending semantic graphs and result in
improved decision-making capabilities. Find out more at www.sprylogics.com,
and www.cluuz.com.

    ------------------------------------

    Certain statements in this press release may constitute "forward-looking"
statements which involve known and unknown risks, uncertainties and other
factors which may cause actual results, performance or achievements of
Sprylogics International Corporation (the Company) to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. When used in this press release, such
statements use such words as "may," "will," "expect," "anticipate," "project,"
"believe," "plan" and other similar terminology. The risks and uncertainties
are detailed from time to time in reports filed by the Company with securities
regulatory authorities to which recipients of this press release are referred
for additional information concerning the Company, its prospects and the risks
and uncertainties relating to the Company and its prospects. New risk factors
may arise from time to time and it is not possible for management to predict
all of those risk factors or the extent to which any factor or combination of
factors may cause actual results, performance and achievements of the Company
to be materially different from those contained in forward-looking statements.
    Given these risks and uncertainties, investors should not place undue
reliance on forward-looking statements as a prediction of actual results. The
forward-looking information contained in this press release is current only as
of the date of this press release. There should not be an expectation that
such information will in all circumstances be updated, supplemented or revised
whether as a result of new information, changing circumstances, future events
or otherwise.

    
    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 and accuracy of this release
    

    %SEDAR: 00021389E




For further information:

For further information: Sprylogics International Corp., Michael Frank,
CEO, (416) 221-5119 or michael@sprylogics.com

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Sprylogics International Corp.

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