TORONTO, July 2, 2013 /CNW/ - Sprylogics International, ("Sprylogics" or "the Company") the international provider of innovative mobile search and messaging monetization services announces that, further to the Company's press release of May 31, 2013, it has signed a definitive share purchase agreement (the "Agreement") to acquire Poynt Inc ("Poynt"). Closing of the acquisition is scheduled to occur on or before July 15, 2013. Closing of the acquisition of Poynt by Sprylogics remains subject to satisfactory completion of all closing conditions as set out in the Agreement, including receipt of all third-party and regulatory approvals.
Unsecured Debenture Financing
The Company has arranged for an unsecured debenture financing in the amount of $250,000. The Debenture will bear interest at 7% per annum and mature 12 months from closing. The holder of the Debenture will also be issued 1,000,000 common shares of Sprylogics in connection with providing the loan.
Sprylogics International develops advanced search and analysis technology. The patent pending technology platform uses Semantic and Machine Learning techniques to process, analyze and interpret unstructured data including real time conversation, in order to extract key sentiments, facts, user interests and intent. The technology platform is currently being used to develop innovative solutions related to search and discovery of products and places on mobile devices. Find out more at www.sprylogics.com or www.2ya.it
Original Release: Newswire.ca
Image: Courtesy Sprylogics