Business
Sprylogics Announces Amendment to Financing
TORONTO, July 7 /CNW/ - Sprylogics International Corp. (the "Company") (SPY - TSX Venture) announ...
About this update from Bragg Gaming Group Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, July 7 /CNW/ - Sprylogics International Corp. (the "Company")\n(SPY - TSX Venture) announces that it has made certain amendments to the\npreviously announced best efforts private placement offering of up to\n$1.5 million of units (see April 4, 2008 and May 22, 2008 news releases) (the\n"Brokered Offering") with PowerOne Capital Markets Limited acting as agent\n(the "Agent"). The Brokered Offering will now be comprised of up to 10,000,000\nunits ("Units") of the Company at a price of $0.15 per Unit, each Unit\ncomprised of one common share of the Company and one common share purchase\nwarrant ("Warrant"), with each Warrant exercisable into a common share of the\nCompany at an exercise price of $0.20 for a period of 24 months.\n\n\nThe closing of the Brokered Offering is expected to occur on or about\nJuly 18, 2008 and is subject to receipt of all necessary regulatory approvals\nincluding that of the TSX Venture Exchange.\n\n\nThe Company has agreed to pay the Agent a cash commission of 7% of the\ngross proceeds of the Brokered Offering and to issue broker warrants entitling\nthe Agent to purchase that number of Units equal to 7% of the number of Units\nsold pursuant to the Brokered Offering. Such broker warrants will be\nexercisable at any time until the 24 month anniversary of their issuance at a\nprice of $0.15 per Unit.\n\n\nThe Company may also issue up to 10,000,000 Units on a non-brokered\nprivate placement basis (the "Non-Brokered Offering") on the same terms of the\nUnits as issued pursuant to the Brokered Offering for gross proceeds of up to\n$1,500,000.\n\n\nProceeds of the Brokered Offering and the Non-Brokered Offering will be\nused to fund general working capital, including marketing and research and\ndevelopment.\n\n\nAbout Sprylogics International Corp.\n\n\n------------------------------------\n\n\nSprylogics International Inc. develops advanced search, analysis, and\ninformation display tools and services. These solutions enable users to search\nlarge amounts of unstructured data on the Web, and in internal corporate\ndatabases, and convert it into actionable intelligence. The core technology\ndriving Sprylogics' solutions is embedded in the Cluuz Search Engine platform\nwhich enables both consumers and corporate users to methodically se...