Sprylogics International Corp.
TSX VENTURE : SPY

Sprylogics International Corp.

May 17, 2011 11:08 ET

Sprylogics International Increases Non-Brokered Private Placement

TORONTO, ONTARIO--(Marketwire - May 17, 2011) -Sprylogics International Corp. ("Sprylogics" or the "Company") (TSX VENTURE:SPY) reports that the non-brokered private placement announced on April 29, 2011 has been increased by $150,000 in Units. The placement will now consist of Units aggregating $2,600,000. In addition, the Company may pay cash finder's fees of up to 10% of the gross proceeds of the financing. All other terms pertinent to the financing which have been disclosed in the April 29, 2011 press release remain the same.

The Units will be subject to a four month statutory hold period from the date of issuance. The Private Placement is conditional upon receipt of approval by the TSX Venture Exchange.

The net proceeds of the Private Placement will be used to repay debt and for general working capital purposes.

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 Company's ability to complete the Private Placement and to repay its existing debt 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 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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