Sprylogics International Announces Results from Annual General Meeting

Symbol: SPY

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 directors:

Michael Frank
Michael Kron
Marvin Igelman
Keith Yokomoto
Amit Monga
Michael Serruya

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 contractual agreements.

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 securities laws.

SOURCE Sprylogics International Corp.

For further information:

Sprylogics International Corp.
Michael Frank, CEO, 905-761-9200

Profil de l'entreprise

Sprylogics International Corp.

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