TORONTO, Sept. 16, 2011 /CNW/ - Sprylogics International Corp. ("Sprylogics" or the "Company") is pleased to announce the Company held
their Annual General Meeting (the "AGM") on September 15, 2011. At the
AGM the shareholders re-appointed Zeifmans LLP, Chartered Accounts, of
Toronto, Ontario, as auditor of the Company to hold office until the
close of the next annual meeting of the shareholders and approved the
adoption of a fixed stock option plan pursuant to which 14,666,183
common shares (20% of the issued and outstanding common shares as of
that date) are available for purchase upon the exercise of options
awarded by the Company.
At the AGM the shareholders also approved the election of the following
The biographies of new directors are as follows:
Marvin Igelman ventured into the technology field in 1996 and successfully founded
Brandera Inc., a publicly traded company, where he served as its
President and CEO operating Portfolios.com, a leading online
business-to business site for the Graphic Arts and creative community.
Following the 2002 sale of Portfolios.com, Mr. Igleman served as a
business development consultant for numerous technology companies, and
established a number of other successful ventures including funding and
serving as CEO of Unomobi Inc., a mobile advertising and messaging
platform that was acquired in 2010 by Poynt Corporation. Mr. Igelman
joined the Poynt Corporation executive team and Board of Directors,
serving as its Chief Strategy Officer until June 2011. Mr. Igelman then
joined the Board of Directors of NorthCore Technology Inc. Mr. Igelman
also serves on the Board of Directors for both American Apparel Inc.
and Jamba Inc. Mr. Igelman graduated from Osgoode Hall Law School in
1986, becoming a member of the Law Society of Upper Canada in 1988.
Dr. Amit Monga is the President and CEO of Northcore Technologies Inc., a provider of
capital asset management and social commerce solutions. He is a
successful angel investor who has previously worked as an investment
banker at National Bank Financial where he covered companies in
technology, media and telecom sectors. Prior to National Bank
Financial, he worked as a venture capitalist at MDS Capital, focussing
on healthcare IT investments. At MDS Capital, he also served as Chief
Operating Officer of three early stage investment funds and was a
member of the investment committee that oversaw investments from family
of funds totalling approximately $800 million. In 1999, Dr. Monga
co-founded HigherMarkets Inc., a US based on-demand procurement
Software Company that was acquired by SciQuest in 2002. He currently
serves on the board of Northcore Technologies Inc., Poynt Corporation
and Alberta Innovates Technology Futures. Dr. Monga received his PhD in
Mechanical Engineering from the University of Alberta, specializing in
advanced genetic algorithms.
Michael Serruya co-founded Coolbrands International Inc. in 1986 and served as its
President and Chief Executive Officer from November 17, 2006 to
November 2010. Mr. Serruya served as President and Chief Executive
Officer of Yogen Fruz from 1995 to February 2000. He served as the
Chairman of Coolbrands International Inc. until 2010. He served as
Chairman of Yogen Fruz from 1995 to February 2000. He has been Director
of Response Genetics, Inc. since March 2000. He was a Director of
Jamba, Inc., from 2009 to 2011, and has been a Director of Swisher
Hygiene Inc. since 2010. Mr. Serruya has served as a Director of
Coolbrands International Inc. from September 1994 to 2010. He served as
Member of the Board of Ontario Jobs and Investment.
Keith Yokomoto serves as an outside business consultant and advisor to a portfolio of
companies in entertainment, media, and technology sectors. Previously,
Mr. Yokomoto co-founded ARTISTdirect and served as the company's
President and Chief Operating Officer, which included a talent agency
and digital media business unit. At ARTISTdirect, he helped create a
leading online music destination, www.artistdirect.com, and worked with artists such as Rolling Stones, The Beastie Boys, Tom
Petty, Incubus, and others building their online business operation.
Prior to ARTISTdirect, Mr. Yokomoto managed an internal venture
organization at Hughes Electronics. Mr. Yokomoto received a B.S. in
Mechanical Engineering from UC San Diego and an M.B.A. from the
University of Southern California.
The term of office of each director expires annually at the time of the
Company's annual general meeting or when or until their successor is
duly appointed or elected. The term of office of the officers expires
at the discretion of the Company's directors and/or in accordance with
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.
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.
Michael Frank, CEO, 905-761-9200