Sprylogics International Corp.
TSX VENTURE : SPY

Sprylogics International Corp.

November 30, 2010 12:12 ET

Sprylogics International Corp. Updates Status of $300,000 Convertible Debenture

TORONTO, ONTARIO--(Marketwire - Nov. 30, 2010) - Sprylogics International Corp. ("Sprylogics" or the "Company") (TSX VENTURE:SPY) announces that the CAD$300,000 principal amount senior secured convertible debenture (the "Debenture") of the Corporation dated October 15, 2009 has matured without repayment by the Corporation (see the press release of October 20, 2010). The Corporation has been provided with notification by the holder of the Debenture that the Debenture is due and payable by December 10, 2010, at which time if the Corporation has not paid the Debenture in full the holder will have the right to enforce its security, which includes all of the assets of the Corporation. The Corporation has been investigating financing options to repay the Debenture, however, at this time the Corporation believes it is unlikely that the Debenture will be refinanced prior to the holder of the Debenture enforcing its security.

About Sprylogics International Corp.

Sprylogics International Corp. 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.

Neither 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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