TORONTO, Feb. 23, 2015 /CNW/ - Sprylogics International Corp. ("Sprylogics" or the "Company") (TSXV: SPY), a technology provider of semantic search, local mobile search, and messaging solutions for consumers and businesses is pleased to announce that it has launched its BreakingSports App for Android, available now on Google Play Store.
BreakingSports tracks social media in real-time for significant sports information and events and distributes summarized information through real-time push notifications to consumers. By utilizing advanced artificial intelligence techniques, BreakingSports can detect events as they happen and as they are announced in social media, determine nature of the events, attribute events to participants, summarize source articles, index the underlying information, provide search of events and articles and send alerts to fantasy players, sport fans and enthusiasts.
Compared to other similar products, BreakingSports has the differentiated advantage of not requiring human intervention when detecting and generating alerts, thereby enabling faster delivery of relevant information. Through a simple-to-use interface BreakingSports users specify what teams and players they are interested in as well as what type of events they care about, such as injuries, roster moves, line-up changes, statistics, rumours and more.
"We are extremely pleased to now offer or BreakingSports App on the Android platform to go along with our previously launched iOS version" said Marvin Igelman, CEO of Sprylogics. "We now can deliver breaking sports news and alerts in a fast and unique way to Android and Apple users alike. BreakingSports will keep you aware of all the relevant information you need in real-time. It's a gripping customizable mobile sports app that fantasy sports players and sports fanatics will want to have" added Igelman.
In other news, the Company issued an additional 484,000 units at an issue price of $0.35 per unit, which together with the initial financing announced on February 12, 2015, brings the gross proceeds for the entire financing to $1,500,000. Each unit is comprised of one common share of the Company and one common share warrant, with each warrant exercisable into a common share of the Company at an exercise price of $0.45 per share for a period of 24 months.
All securities issued in connection with the financing will be subject to a hold period of four months and a day from the date of issuance.
Sprylogics International Corp. is a technology provider of semantic search, local mobile search, and messaging solutions for consumers and businesses. The Company's newest app, BreakingSports utilizes semantic and machine learned language to track social media in real-time for significant sports information and events and distribute summarized information through real-time push notifications to consumers. In addition, the Company enables telecom operators, messaging and mobile application providers to introduce new revenue streams into their apps with its "Poynt-Enabled" SDK. Sprylogics semantically aggregates and distributes useful local content by making it searchable via its patented geographical and contextual targeting technology. Sprylogics also markets Poynt; an award winning, all-in-one mobile local search App that has garnered over 20 million downloads.
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. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of Sprylogics to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in Sprylogics' other continuous disclosure filings, which are available at www.sedar.com. Readers should not place undue reliance on these forward-looking statements. 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.: David Berman, CFO, (905) 761-9200, Ext. 21, [email protected], sprylogics.com