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Sprylogics Announces Closing of First Tranche of Non-Brokered Private Placement of Units
TORONTO, May 22 /CNW/ - Sprylogics International Corp. (the "Company" or "Sprylogics") (TSX-VENTU...
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[{"type":"text","content":"\n\n\n\nTORONTO, May 22 /CNW/ - Sprylogics International Corp. (the "Company" or\n"Sprylogics") (TSX-VENTURE: SPY), announces that it has closed the first\ntranche of a non-brokered private placement financing of up to $1,000,000.\nThis first tranche consists of 2,508,334 units (the "Units") of the Company,\nat a price of $0.15 per Unit, for gross proceeds of $376,250. Each Unit\nconsists of one common share and one-half of one share purchase warrant. Each\nwhole warrant entitles the holder to purchase one common share of the Company\nat a price of $0.20 per share for a period of 24 months from closing. All of\nthe securities are subject to a hold period of four months.\n\n\nThe Company expects to complete an additional tranche of this\nnon-brokered financing as well as the previously announced brokered financing\nwith PowerOne Capital Markets Limited (see press release dated April 4, 2008)\nwithin the next couple of weeks.\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 search the\nInternet and internal corporate resources and find the information they are\nlooking for. Cluuz search results are visually displayed through patent\npending semantic graphs and result in improved decision making capabilities.\nTo find out more, visit www.sprylogics.com, and www.cluuz.com.\n\n\nCertain statements in this press release may constitute "forward-looking"\nstatements which involve known and unknown risks, uncertainties and other\nfactors which may cause actual results, performance or achievements of the\nCompany to be materially different from any future results, performance or\nachievements expressed or implied by such forward-looking statements. When\nused in this press release, such statements use such words as "may," "will,"\n"expect," "anticipate," "project," "b...