Slyce Inc. Closes $8.7 Million Bought Deal Financing

TORONTO, ONTARIO--(Marketwired - May 14, 2015) -

Editors Note: There is a video associated with this press release.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Slyce Inc. (TSX VENTURE:SLC) ("Slyce" or the "Company") is pleased to announce that it has closed its previously announced bought deal financing of 18,860,000 common shares at a price of $0.46 per common share, which includes the over-allotment option granted by the Company to the Underwriters (as defined below) to purchase an additional 2,460,000 common shares for aggregate gross proceeds of $8,675,600. The syndicate of underwriters for the offering was co-led by Salman Partners Inc. and Beacon Securities Limited, and included PI Financial Corp. (collectively, the "Underwriters").

"We've seen visual search now undoubtedly reach that point of critical mass where almost every major retailer is looking to integrate the technology into their ecommerce apps and offer that anytime, anywhere, seamless 'Snap-to-buy' experience to their customers," said Slyce CEO, Mark Elfenbein. "This latest round of financing is highly-significant to the organization as it enables us to take full advantage of this appetite in the market and increase our ability to efficiently onboard the world's largest retailers."

The securities described above were offered pursuant to a short form prospectus (the "Prospectus") dated May 8, 2015, filed with securities regulatory authorities of Alberta, British Columbia, and Ontario. The Prospectus and other documents filed by the Company and referred to therein are available under the Company's profile on SEDAR at www.sedar.com.

The securities offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Slyce Inc.

Slyce Inc. (TSX VENTURE:SLC)(FRANKFURT:06O1) delivers sophisticated 3D visual search technology that empowers limitless customer engagement applications for companies and consumers starting with the simple snap of a photo on a mobile device.

Based in Toronto, ON, the company delivers its technology as a white-label visual search platform allowing retailers to increase customer engagement and through its family of consumer mobile apps. Slyce's technology is used by premier, large retail brands like Niemen Marcus and Tilly's.

For image download and further company information please click for the Slyce Media Kit.

READER ADVISORY

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements in this press release contain forward‐looking information including, without limitation, Slyce's business plan, the Offering, the intended use of proceeds, strategy and related milestones, Slyce's suggestions of future outcomes, the future use and development of its technology, future customers and business partners. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Slyce.

Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Slyce.

Slyce does not undertake any obligation to update or revise any forward‐looking statements except as expressly required by applicable securities laws.

None of the information contained on, or connected to, Slyce's website is incorporated by reference herein.

To view the video associated with this press release, please visit the following link: https://www.youtube.com/watch?v=cJupFMy9Ugg&feature=youtu.be