Sprylogics International Corp.
TSX VENTURE : SPY

Sprylogics International Corp.

April 26, 2011 12:10 ET

Sprylogics International Corp.-Corporate Update

TORONTO, ONTARIO--(Marketwire - April 26, 2011) -Sprylogics International Corp. (TSX VENTURE:SPY)("Sprylogics" or the "Company") advises that there has been no material change to the Company since its last press release of November 30, 2010 and that the Company has issued press releases on all material events. As previously announced, the CAD$300,000 principal amount senior secured convertible debenture (the "Debenture") of the Company dated October 15, 2009 has matured without repayment by the Company. As of today's date, the holder of the Debenture has not commenced proceedings to enforcing its security. The Company continues to investigate financing options to repay the Debenture.

About Sprylogics International Corp.

Sprylogics International Inc. develops advanced search, analysis, and compliance technology. These solutions provide case management tools to the Fortune 500. Additionally, Sprylogics' products search large amounts of unstructured data on the web, and in internal corporate databases, and convert it into more relevant searches for a variety of applications. The core technology driving Sprylogics' solutions is embedded in the Cluuz Search Engine platform. Cluuz search results are visually displayed through patent pending semantic cluster graphs and result in improved decision-making capabilities. Find out more at www.sprylogics.com, and www.cluuz.com.

Cautionary and Forward-Looking Statements

Statements contained in this news release which are not historical facts are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All statements regarding the holder of the Debenture not enforcing its security and the Company investigating financing options to repay the Debenture are forward-looking statements and involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.

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 release.

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