Sprylogics International Announces Closing of $2.6 Million Financing

TORONTO, ONTARIO--(Marketwire - May 27, 2011) - Sprylogics International Corp. ("Sprylogics" or the "Company") (TSX VENTURE:SPY) is pleased to announce the completion of its previously announced non-brokered private placement (the "Private Placement") of 37,140,084 units (the "Units") at a price of $0.07 per Unit for gross proceeds of $2,599,806. Each Unit consists of one common share and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one common share of the Company (the "Warrant Share") at a price of $0.12 per Warrant Share for a term of 24 months from the closing date, provided, however, that in the event that the closing price of the outstanding common shares on the TSX Venture Exchange is greater than $0.20 for a period of 20 consecutive trading days at any time after the closing date, the Company may, at its option, accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the date which is the earlier of: (i) the 30^th day after the date on which such notice is given by the Company; and (ii) 24 months from the closing date.

The Company paid cash finder's fees totaling $218,940 and issued 3,193,578 non-transferable options (the "Finder Options") to acquire Units of the Company at an exercise price of $0.07 per Unit for a period of 24 months from the closing date.

The Units will be subject to a four month statutory hold period from the date of issuance.

The net proceeds of the Private Placement will be used to repay debt, research and development, marketing and other general working capital purposes.

The Company also announced the grant of 5.15 million share purchase options to its board of directors, key management personnel and consultants. The options have normal vesting provisions in conjunction with the Company's Option Plan and they expire in 5 years.

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.

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.