Mr. Mark Elfenbein reports

SLYCE INC. PROVIDES UPDATE ON THE ANTICIPATED CLOSING DATE FOR ITS SHORT FORM PROSPECTUS OFFERING

Slyce Inc. wishes to provide an update as to the anticipated closing date of its previously announced short form prospectus offering (as defined below).

The offering is now expected to close the week of Dec. 21, 2015, subject to certain conditions including, but not limited to, the issuance of a receipt by the securities regulatory authorities in the provinces of Ontario, British Columbia and Alberta for a final short form prospectus in connection with the offering, the final approval of the TSX Venture Exchange, and the execution of an agency agreement among Slyce and the agents.

As previously announced, Slyce filed a preliminary short form prospectus on Dec. 1, 2015, with the securities regulatory authorities in the provinces of Ontario, British Columbia and Alberta in connection with a public offering, on a commercially reasonable efforts basis, of a minimum of 45 million units of the corporation and a maximum of 67.5 million units at a price of 20 cents per unit for minimum aggregate gross proceeds of approximately $9-million and maximum aggregate gross proceeds of approximately $13.5-million. Each unit will consist of one common share of the corporation and one common share purchase warrant. Each warrant will entitle the holder to acquire an additional common share at a price of 22 cents for a period of 60 months following the date of issuance.

The offering is being made through a syndicate led by Euro Pacific Canada Inc., as lead agent and includes Salman Partners Inc. The agents will receive a cash commission equal to 7 per cent of the gross proceeds raised under the offering. As additional consideration, the agents will be granted non-transferable broker warrants equal to 7 per cent of that number of units sold. Each broker warrant will be exercisable into one unit for a period of 60 months from the closing of the offering at a price of 22 cents per unit.

Slyce has obtained a receipt for the preliminary prospectus from the securities regulatory authorities in the provinces of Ontario, British Columbia and Alberta.

The net proceeds of the offering will initially be added to the corporation's working capital, and will subsequently be applied to various purposes in furtherance of the corporation's business plan and for general corporate purposes.

We seek Safe Harbor.