TORONTO, March 22, 2012 /CNW/ - Sprylogics International Corp. - TSX Venture: SPY ("Sprylogics" or the "Company") is pleased to announce the addition of two more industry leaders to its Advisory Board. The Company welcomes William Kirsh and Jan Klein.
"We're very pleased to add two Advisory Board members with key expertise and knowledge, to our team of advisors. William has deep roots in media, mobile and internet sectors and has achieved great success in these areas and Jan brings a highly analytical and technical perspective that is valuable in our strategic plans and evaluation of opportunities going forward. These gentlemen complement our existing team of advisors as we move forward and continue to execute our strategic plan. I look forward to their input", said Marvin Igelman, Chief Executive Officer of Sprylogics.
William Kirsh is the founder of Primedia, which is South Africa's 2nd largest media group and the only major media group to have emerged in post-apartheid South Africa. It is also one of the most diversified media groups in the world.
He established the group in 1994 and was the CEO from inception, until he resigned to pursue family and other interests in August 2009. The group was delisted from the Johannesburg Stock Exchange (JSE) in September 2007, in a transaction valued at $1 billion having grown from $20 million when first established.
William is now currently CEO of a new group, Value + Network, which he recently established to consolidate another fragmented sector of the South African market which embraces inter alia, internet and mobile technologies and platforms.
Prior to establishing Primedia, William worked at Shearson Lehman Hutton in New York in mergers and acquisitions (1988 to 1991), and on his return to South Africa in 1991, established a boutique private equity business, which led him to secure control, in 1993, over a cash shell listed on the JSE, renamed Primequity, which then became his vehicle to build Primedia. In 2005, William was nominated as one of South Africa's finalists in the Ernst & Young World Entrepreneur Awards.
Jan has been both a venture capitalist and operating executive who has spent over 25 years in the telecommunications, media and technologies space. He is an Executive in Residence at Stevens Institute of Technology's Howe School of Technology management and is general partner at PSK and THP LLC's, advising early stage technology companies and financial institutions. Prior to this Mr. Klein spent 5 years as VP of Equity Research as a sell-side analyst at Morgan Stanley Dean Witter covering wireless and Internet firms.
As a business and financial planning executive, Jan has helped a number of early and mid - stage companies secure financing and establish industry partnerships. His assignments ranged from mobile service providers, application developers, equipment providers; and technology enabling firms that were venture backed, private equity financed and publically traded. Prior to restarting his consulting practice, Jan held senior management roles in finance and/or business development with leading technology firms that included AT&T Wireless, Geotek, US Wireless and Qualcomm. Mr. Klein capped 18-year tenure at AT&T in sales, operations and finance with the responsibility for the financial planning and negotiation of the 1994 McCaw Cellular acquisition. Following the McCaw merger, Jan joined Morgan Stanley Dean Witter as their wireless telecommunications analyst and followed cellular and Internet service providers.
Jan holds a BS in Aerospace Engineering from The Pennsylvania State University, an MBA in Finance from George Washington University, an Executive MBA from Cornell University and an Associate Degree in Accounting from the University of Pittsburgh. He is a Certified Public Accountant in New Jersey and holds a NASD Series 7.
In addition, the Company announced that it has granted 100,000 options to a director, with an exercise price of $0.10 and a 5 year expiry.
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 securities laws.
For further information:
Sprylogics International Corp.
David Berman, CFO, 905-761-9200 Ext.21 or [email protected]