Slyce Inc. Terminates Short-Form Prospectus Offering, Announces Private Placement Financing and Change in Board of Directors - Seite 2

Mr. Kevin Taylor has decided to resign from the board for personal reasons. Mr. Taylor has served as a director of Slyce since June 2014. The Board is grateful for Mr. Taylor's valuable guidance, service and contribution to the Corporation and wishes him continued success in his future endeavors. It is expected that Mr. Taylor's vacancy on the Board will allow for the appointment of a strategic nominee of the Lead Investor. Such nominee is subject to the regulatory approvals of the TSX Venture Exchange and the Board of Slyce acting reasonably.

The Corporation intends to use the proceeds from the Private Placement for product development and enhancement purposes, general and administrative expenditures and general corporate purposes. The Private Placement is subject to the approval of the TSX Venture Exchange.

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 Corporation 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, Urban Outfitters, Tilly's, JCPenney and Home Depot.