Slyce Inc. Announces Increase to Previously Announced Bought Deal Financing

TORONTO, ONTARIO--(Marketwired - April 24, 2015) -

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

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

Slyce Inc. (TSX VENTURE:SLC) ("Slyce" or the "Company") is pleased to announced that it has agreed with a syndicate of underwriters co-led by Salman Partners Inc. and Beacon Securities Limited, and including PI Financial Corp. (collectively, the "Underwriters"), to upsize its previously announced "bought deal" public offering of common shares of the Company (the "Common Shares") to 16,400,000 Common Shares at a price of $0.46 per Common Share (the "Issue Price") for aggregate gross proceeds to the Company of $7,544,000 (the "Offering").

The Company has also agreed to upsize the over-allotment option granted to the Underwriters to provide the Underwriters with the option to purchase up to an additional 2,460,000 Common Shares at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional $1,131,600 in gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be $8,675,600.

The Common Shares will be offered by way of a short form prospectus to be filed in British Columbia, Alberta, and Ontario. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes. The Offering is expected to close on or about May 14, 2015 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

The securities being 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.