Slyce Inc. Announces Receipt of Unsecured Loans from Certain Insiders, Additional CDN$1 Million Standby Bridge Loan and Provides Update on Anticipated Closing Date for Prospectus Offering - Seite 2

As previously announced, Slyce has obtained a receipt from the securities regulatory authorities in the provinces of Ontario, British Columbia and Alberta for a preliminary short form prospectus dated December 1, 2015 (the "Preliminary Prospectus") in connection with a public offering (the "Offering"), on a commercially reasonable efforts basis, of a minimum of CDN$9 million and up to a maximum of CDN$13.5 million of units of Slyce.

The Offering is now expected to close the week of February 15, 2016, subject to certain conditions including, but not limited to, the execution of a formal agency agreement, the issuance of a receipt for a final short form prospectus (the "Final Prospectus") in connection with the Offering and the approval of the TSX Venture Exchange.

The net proceeds of the Offering will initially be added to the Corporation's working capital and will subsequently be applied to various purposes as disclosed in the Corporation's short form prospectus.

This press release does not constitute an offer to sell or a solicitation of any offer to buy the securities in the United States, in any province or territory of Canada or in any other jurisdiction. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. There shall be no sale of the securities in any jurisdiction in which an offer to sell, a solicitation of an offer to buy or sale would be unlawful.

About Slyce Inc.

Slyce, based in Toronto, ON, delivers sophisticated visual search technologies and is currently focused on enabling a powerful sales channel for major retailers and their customers. Consumers, wherever they are, can conveniently engage with retailers by taking pictures of desired products using their mobile devices, thereby initiating the visual search service with near-instant product recognition capability. The Company delivers its technology both as a white-label visual search platform and as a suite of consumer mobile apps. Slyce's technology is used by large retail brands such as Neiman Marcus, Tilly's, JCPenney and Home Depot.