Slyce Inc. Grants Share Options

TORONTO, ONTARIO--(Marketwired - Oct. 21, 2015) - Visual product search platform Slyce Inc. (TSX VENTURE:SLC) ("Slyce") today announced that it granted stock options to acquire an aggregate of 715,000 common shares of Slyce to its independent directors, executive chairman, corporate secretary and employees.

With an exception of the options granted to one employee which has a three-year term, each grant of options has a five-year term from the date of grant and is exercisable into one common share of Slyce at an exercise price of $0.36 per share. With an exception of the options granted to one employee which 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 vest over a period of 36 months (one-third vest 12 months from the grant date, one-third vest 24 months from the grant date and one-third vest 36 months from the grant date).

Giving effect to the grant, there will be 10,665,024 outstanding options to purchase common shares of Slyce, representing approximately 7.9% of Slyce's issued and outstanding common shares.

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.

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.

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

READER ADVISORY

The TSX-V has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Statements in this joint 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, timing and completion of the Amalgamation, the Offering and ongoing corporate strategy and benefits of the Amalgamation. 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.

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 forward-looking 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.