|By Marketwired .||
|August 11, 2014 08:43 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 08/12/14 --
Editor's Note: There is a video associated with this release.
SLYCE Inc. (the "Corporation") (TSX VENTURE:OVX.H)(FRANKFURT:06O1) is pleased to announce that it has retained the services of Contact Financial Corp. ("Contact") and Sigorex Management GmbH. ("Sigorex") to provide investor relations services, subject to regulatory approval.
Contact, located in Vancouver, is an independent investor relations agency that specializes in helping small-to mid-cap companies gain awareness in the investment community.
Sigorex, located in Kulmbach, Germany, is an independent investor relations agency with experience in the retail investor sector.
Contact and Sigorex will initiate and maintain contact with the financial community, shareholders, investors and other stakeholders for the purpose of increasing awareness of the Corporation and its activities. Sigorex will provide investor relations services to the Corporation primarily throughout Europe.
SLYCE Inc. President and Interim CEO Mark Elfenbein said of the announcement, "We look forward to working with each of Contact and Sigorex to actively engage the investment community in order that our company and the value of our rapidly advancing technology is most effectively communicated."
The agreement with Contact is effective immediately and will expire on October 1, 2014 unless the Corporation and Contact agree to extend the agreement on a month-to-month basis thereafter. The Corporation has agreed to pay Contact a fee of $8,000 per month and has granted 100,000 stock options to Contact with an exercise price of $0.60. The stock options will expire on the earlier of three years from the grant date and 30 days after termination or expiry of the agreement, and the options vest as to 1/4 after three months from the grant date and 1/4 every three months thereafter until fully vested.
The agreement with Sigorex is effective immediately and has a term of 12 months. The Corporation has agreed to pay Sigorex a fee of EUR5,000 per month.
Additionally, the Corporation announces that its common shares have been listed for trading on the Borse Frankfurt (Frankfurt Stock Exchange) under the symbol "06O1".
About SLYCE Inc.
The Corporation is a visual search technology company based in Calgary, Alberta and Toronto, Ontario and is engaged in the business of providing advanced imaging visual search software that allows consumers to purchase products at the moment they discover them in the physical world and online.
The Corporation has developed an advanced visual search platform that integrates with retail brands and digital content providers to give their customers the ability to instantly discover and purchase products that inspire them by simply snapping photographs with their smartphones or "clicking" images on either their smartphones (mobiles) or desktop web browsers. The customer is provided with direct and close-matching products from the retailer's inventory, which can be purchased immediately at the moment of inspiration.
The Corporation's strategy is to position itself as a pivotal player in the emerging visual web. The Corporation can provide its technology to retailers, brands, application developers and digital publishers, enabling their applications to recognize products for instant purchase. The Corporation expects to provide its technology to retailers in exchange for integration, licensing and per search fees, percentage sales splits and big data provision and analysis. The Corporation is currently in discussions with six of the top 20 retailers in North America.
For image download and further company information please click for the SLYCE Media Kit.
Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include, but is not limited to, information with respect to: operational decisions and the timing thereof, suggestions of future outcomes, the future use and development of technology, future customers and business partners and ongoing corporate strategy. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect. Although the Corporation believes that the expectations reflected in such forward-looking information is reasonable, undue reliance should not be placed on forward-looking information because the Corporation can give no assurance that such expectations will prove to be correct. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, unless required by law.
The reader is cautioned not to place undue reliance on this forward-looking information.
None of the information contained on, or connected to, the Corporation's website is incorporated by reference herein.
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 press release.
To view the video associated with this release, please visit the following link: https://www.youtube.com/watch?v=cJupFMy9Ugg&feature=youtu.be
Chief Operations Officer