Sylogist Ltd.

Sylogist Ltd.

September 04, 2014 20:34 ET

Sylogist Ltd. Announces Increase to Bought Deal Financing

CALGARY, ALBERTA--(Marketwired - Sept. 4, 2014) -


Sylogist Ltd. ("Sylogist" or the "Company") (TSX VENTURE:SYZ) is pleased to announce that it has increased the size of its previously announced bought deal private placement with Acumen Capital Finance Partners Limited ("Acumen"). Sylogist will now issue, and Acumen has agreed to purchase on a "bought deal" basis an aggregate of 2,500,000 common shares ("Common Shares") at a price of $11.00 per Common Share for total gross proceeds of $27,500,000 (the "Offering").

The Common Shares will be offered by way of private placement in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec and certain other jurisdictions agreed to between Acumen and the Company. The closing of the Offering is expected to occur on or about September 24, 2014, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

Sylogist intends to use the proceeds from the Offering to increase working capital to allow for business expansion through organic growth initiatives and strategic acquisitions.

About Sylogist

Sylogist is a technology innovation company which, through strategic acquisitions, investments and operations management, provides Enterprise Systems and Supply Chain intellectual property solutions to a wide range of public and private sector customers.

The Company's stock is traded on the TSX Venture Exchange under the symbol SYZ. Information about Sylogist can be found at

Forward-looking Statements

This news release contains forward-looking information which is not comprised of historical facts. These statements typically use words such as prospects, believe, estimate, forecast, project, expect, anticipate, plan, may, should, could and would, or the negative of these terms, variations thereof or similar terminology. By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature. It is therefore possible that the forecasts, projections and other forward-looking statements will not be achieved or will prove inaccurate. Although Sylogist believes that the expectations reflected in these forward-looking statements are reasonable, it provides no assurance that these expectations will prove to have been correct. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements with respect to Sylogist's intention to complete the Offering, the expected closing date of the Offering and the use of proceeds from the Offering. Material assumptions and factors that could cause actual results to differ materially from such forward-looking information includes the performance of the underwriter's and Sylogist's obligations in relation to the Offering; the failure to obtain approval from the TSX Venture Exchange; and the determination by Sylogist to use the proceeds for alternate purposes. Although Sylogist believes that the material assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur. Sylogist disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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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