Slyce Inc.

Slyce Inc.

December 12, 2014 16:30 ET

Slyce Inc. Announces Investor Relations Position and Grant of Stock Options

TORONTO, ONTARIO--(Marketwired - Dec. 12, 2014) - SLYCE Inc. ("Slyce") (TSX VENTURE:SLC) announces that it has entered into an agreement for services with Roy Roman, who will join Slyce as its new Capital Market Manager. Mr. Roman will be responsible for initiating and maintaining contact with the financial community, shareholders, investors and other stakeholders for the purpose of increasing awareness of Slyce and its activities.

Mr. Roman will receive a fee for services of $70,000 per annum and will be entitled to participate in Slyce's stock option plan. Mr. Roman's agreement with Slyce is subject to acceptance by the TSX Venture Exchange ("TSXV") and will continue until terminated by either party upon notice to the other.

Other than stock options Slyce may grant to Mr. Roman from time to time (including those described below) and the common shares to be issued on exercise thereof, Mr. Roman does not have any right or intent to acquire any interest, directly or indirectly, in Slyce or its securities.

Slyce also announces that on December 11, 2014 it granted stock options to acquire an aggregate of 870,000 common shares of Slyce to officers and employees of Slyce as follows:

  • Dan Grigsby, Slyce's Chief Technology Officer, was granted 200,000 stock options;
  • Roy Roman, Slyce's Capital Market Manager, was granted 100,000 stock options (subject to TSXV approval); and
  • other employees of Slyce were granted an aggregate of 570,000 stock options.

Each grant of options has a three-year term, expiring on December 11, 2017. Each option is exercisable into one common share of Slyce at an exercise price of $0.80 per share. The options (other than those granted to Mr. Roman) vest over a period of 24 months (one-third vest immediately, one-third vest 12 months from the grant date, and one-third vest 24 months from the grant date). The options granted to Mr. Roman vest as to one-quarter immediately, as to three-eighths 12 months from the grant date and as to three-eighths 24 months from the grant date.

Giving effect to the grant, there will be 8,317,192 outstanding options to purchase common shares of Slyce, representing approximately 7.80% of Slyce's issued and outstanding common shares.

About SLYCE Inc.

Slyce is a visual search technology company based in Toronto, Ontario and is engaged in the business of providing advanced imaging technology visual search software that allows consumers to purchase products at the moment they discover them - in the real‐world and online.

Slyce has developed an advanced visual search platform that integrates with retail brands and digital content providers to give their customers the ability to instantly discover and purchase products that inspire them by simply snapping photographs with their smartphones or "clicking" images on either their smartphones (mobiles) or desktop web browsers.

Slyce's strategy is to position itself as a pivotal player in the emerging visual web. Slyce will provide its technology to retailers, brands, app developers and digital publishers, enabling their apps to recognize products for instant purchase. Slyce will provide its technology to retailers in exchange for integration, licensing and per search fees, percentage sales splits and big data provision and analysis. Slyce is currently working with a growing list of fortune 1000 brands and companies as well as multiple innovative developers.

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

Reader Advisory

Statements in this press release contain forwardlooking 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 forwardlooking statements. The forwardlooking statements are founded on the basis of expectations and assumptions made by Slyce. The reader is cautioned not to place undue reliance on this forward looking information.

Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Slyce.

Slyce does not undertake any obligation to update or revise any forwardlooking statements except as expressly required by applicable securities laws.

None of the information contained on, or connected to, Slyce's website is incorporated by reference herein.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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