TSX Venture Exchange
TORONTO, Sept. 19, 2011 /CNW/ - Sprylogics International Corp. ("Sprylogics" or the "Company") is pleased to announce that Marvin
Igelman has been appointed the new Chief Executive Officer of the
Company. Michael Frank has stepped down as Chief Executive Officer and
Director of the Company in order to pursue other interests but will
remain as a consultant to the Company. The Company would like to thank
Mr. Frank for his years of service and welcome Mr. Igelman to his new
In addition, the Company is pleased to announce the addition of Brad
Marks, VP of Product Development and Bhavuk Kaul, VP of Product
Marketing to the Company's management team.
Commenting on the new appointment, Mr. Igelman said, "I am very excited
to lead this new Sprylogics team. In today's fast paced world, there
is a need to get to results quickly and efficiently. Sprylogics'
leading edge semantic technology presents us with the opportunity to
create unique and disruptive products that address these needs."
Brad Marks is responsible for the Company's product development
roadmap. He has over 15 years of experience working across a number of
emerging technologies with many of the world largest brands, service
providers and media companies. Most recently, Brad led all mobile
advertising initiatives at Research in Motion ("RIM") where he was
responsible for bringing to market the BlackBerry Advertising Service
as well as strategic partnerships, product development and corporate
development activity related to Mobile Advertising. He began his
career with ExtendMedia (acquired by Cisco) where he led product,
engineering and consulting teams working with such companies as NBC
Interactive, Bell Canada, Microsoft and RealNetworks. "Sprylogics has
developed an amazing technology foundation in semantic search,
sentiment analysis and information retrieval and display. I am thrilled
to join the team and help them point this technology at real-world
consumer problems," said Mr. Marks.
Bhavuk Kaul is responsible for all product marketing strategies and
initiatives of the Company. Before Sprylogics, Bhavuk led product
management for RIM's search and push service initiatives. His search
portfolio included the universal search application, APIs, vertical
search framework, and initiatives related to semantic technology and
Natural Language Processing. In his role managing search, he helped
drive strategic partnerships and acquisitions that lead to exponential
growth in search revenue. Prior to joining RIM, Bhavuk held product
management and marketing roles at high-tech companies including
Bitstream, Virgin Mobile, Mobile ESPN and Disney Mobile. "I am really
excited to join the talented team at Sprylogics and be the first member
of our San Francisco office; I look forward to building our presence in
the Silicon Valley," said Mr. Kaul.
"We are delighted to have these two key executives join our team. They
both bring a highly strategic and unique expertise that will provide
the Company with a world-class knowledge base and an extensive network
to drive our initiatives forward," added Mr. Igelman.
The Company also announced that it has issued 6.4 million stock purchase
options to directors, officers, management and staff with an exercise
price of $0.11 and expiry in September 2016.
About Sprylogics International Corp.
Sprylogics International develops advanced search and analysis
technology. 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.
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. The Company assumes no obligation to
update any forward-looking statements, except as required by applicable
SOURCE Sprylogics International Corp.
For further information:
Sprylogics International Corp.
David Berman, CFO, 905-761-9200 or firstname.lastname@example.org