Mr. Mark Elfenbein reports

SLYCE INC. CLOSES $8.7 MILLION BOUGHT DEAL FINANCING

Slyce Inc. has closed its previously announced bought-deal financing of 18.86 million common shares at a price of 46 cents per common share, which includes the overallotment option granted by the company to the underwriters to purchase an additional 2.46 million common shares for aggregate gross proceeds of $8,675,600. The syndicate of underwriters for the offering was co-led by Salman Partners Inc. and Beacon Securities Ltd., and included PI Financial Corp.

"We've seen visual search now undoubtedly reach that point of critical mass where almost every major retailer is looking to integrate the technology into their e-commerce apps and offer that any time, anywhere, seamless snap-to-buy experience to their customers," said Slyce chief executive officer Mark Elfenbein. "This latest round of financing is highly significant to the organization as it enables us to take full advantage of this appetite in the market and increase our ability to efficiently on board the world's largest retailers."

The securities described above were offered pursuant to a short-form prospectus dated May 8, 2015, filed with securities regulatory authorities of Alberta, British Columbia and Ontario. The prospectus and other documents filed by the company and referred to therein are available under the company's profile on SEDAR.

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