Slyce Inc.
TSX VENTURE : SLC
FRANKFURT : 06O1

Slyce Inc.

April 19, 2016 08:30 ET

Slyce Inc. Announces New CTO

TORONTO, ONTARIO--(Marketwired - April 19, 2016) - Image recognition and visual search leader Slyce Inc. (TSX VENTURE:SLC) ("Slyce" or the "Corporation") is pleased to announce the appointment of Adam Turkelson who has joined the company as Chief Technology Officer. Mr. Turkelson has served as the lead architect for several companies specializing in machine learning and computer vision.

"Adam is one of the most brilliant minds working on image recognition that I've encountered in the last ten years," said Slyce President Ted Mann. "I first saw what he was capable of when I purchased a Neat scanner several years back. The software Adam wrote was capable of identifying all the text and details from a receipt or business card, and magically turning it into an expense report or a digital contact." Mr. Turkelson was one of the first engineers at the Neat Company, where he researched, prototyped, and productized machine learning and image processing algorithms to improve Optical Character Recognition (OCR) results and accuracy.

Mr. Turkelson succeeds Dan Grigsby, Slyce's former CTO, who recently stepped down from the position. "The Board is grateful to Dan for his contributions to Slyce over the last two years," said Executive Chairman Dale Johnson. "We could not be more excited about Adam joining the team. He brings an enthusiasm for the technology, and depth of understanding around machine learning and computer vision that will be of significant benefit to Slyce going forward."

Prior to joining Slyce, Mr. Turkelson was CTO for Angus Analytics, a business intelligence firm specializing in energy, oil, and gas. At Angus, he oversaw all of the development initiatives for their flagship products which included identifying performance metrics, highlighting operational problem areas, and ultimately forecasting trends in the energy industry.

Mr. Turkelson has been actively involved in deep learning research and development for several years. He has led technology teams for corporations including United Airlines and Barclays as well as several startups, and has also worked in fields of Healthcare and Finance. Based in the Philadelphia area, he will work alongside Mr. Mann at Slyce's Philadelphia office, where Slyce's Consumer App Group is also located.

"Leading a company in the image recognition space is a lifelong dream of mine," said Mr. Turkelson. "At Slyce, we have already created a system capable of harvesting extremely unique and high quality data, and I'm excited to extract far more value from it. I'm also confident that we will be able to accelerate our overall technology roadmap in the coming weeks and months."

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, Urban Outfitters, 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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