Slyce Inc. Announces Short Form Prospectus Offering

TORONTO, ONTARIO--(Marketwired - Dec. 1, 2015) -

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Visual product search platform Slyce Inc. (TSX VENTURE:SLC) ("Slyce" or the "Corporation") is pleased to announce that it has filed a preliminary short form prospectus (the "Preliminary Prospectus") with the securities regulatory authorities in the provinces of Ontario, British Columbia and Alberta in connection with a public offering (the "Offering"), on a commercially reasonable efforts basis, of a minimum of 45,000,000 units of the Corporation (each, a "Unit") and a maximum of 67,500,000 Units at a price of CDN$0.20 per Unit (the "Offering Price") for minimum aggregate gross proceeds of approximately CDN$9,000,000 and maximum aggregate gross proceeds of approximately CDN$13,500,000 (the "Offering").

Each Unit will consist of one common share of the Corporation (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to acquire an additional Common Share (each, a "Warrant Share") at a price of CDN$0.22 for a period of 60 months following the date of issuance.

The Offering is being made through a syndicate led by Euro Pacific Canada Inc. (the "Lead Agent") and includes Salman Partners Inc. (together with the Lead Agent, the "Agents"). The Agents will receive a cash commission equal to 7.0% of the gross proceeds raised under the Offering. As additional consideration, the Agents will be granted non-transferable broker warrants equal to 7.0% of that number of Units sold. Each broker warrant will be exercisable into one Unit for a period of 60 months from the closing of the Offering at a price of CDN$0.22 per Unit.

Slyce has obtained a receipt for the Preliminary Prospectus from the securities regulatory authorities in the provinces of Ontario, British Columbia and Alberta. The Offering is expected to close on or about December 15, 2015, or such earlier or later date as Slyce and the Lead Agent may agree. The closing of the Offering is subject to a number of conditions, including, without limitation, the issuance of a receipt by the securities regulatory authorities in the provinces of Ontario, British Columbia and Alberta for a final short form prospectus in connection with the Offering, the approval of the TSX Venture Exchange and the execution of an agency agreement among Slyce and the Agents.