Slyce Finalizes Contract With American Eagle Outfitters to Power Image Recognition and Mobile Visual Search

CALGARY, ALBERTA--(Marketwired - June 28, 2016) - Image recognition leader Slyce Inc. (TSX VENTURE:SLC)(FRANKFURT:06O1) ("Slyce") today announced a signed contract with global apparel retailer American Eagle Outfitters, to power mobile visual search within its mobile app. The retailer will utilize Slyce's Universal Scanner product, which enables image recognition of clothing and products, as well as catalog and barcode scanning.

Headquartered in Pittsburgh, Pennsylvania, American Eagle Outfitters operates more than 1,000 stores, and ships to 81 countries worldwide.

Slyce will derive revenues from the contract through monthly recurring software licensing and service fees, in line with its current pricing model, over the term of the contract.

Slyce's business model features multiple revenue streams arising from its visual search platform, consumer apps and corresponding data services. The revenue streams include, fees for software licensing, integration, purchase transactions, program promotions and data analytics.

About Slyce Inc.

Slyce delivers image recognition 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, Best Buy, JCPenney and Home Depot.

Slyce's business model features multiple revenue streams arising from its visual search platform, consumer apps and corresponding data services. The revenue streams include fees for software licensing, integration, purchase transactions, program promotions and data analytics.

Slyce is also listed on the Frankfurt exchange trading under (FRANKFURT:06O1).

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

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Statements in this press release contain forward-looking information including, without limitation, Slyce's business plan, 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.

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