\ Sprylogics Announces Closing of Financing
Company News: Page (1) of 1 - 08/27/08

Sprylogics Announces Closing of Financing

August 27, 2008 --

TORONTO, ONTARIO -- (Marketwire) -- 08/27/08 -- Sprylogics International Corp. (the "Company") (TSX VENTURE: SPY) announces that it has closed the previously announced best efforts private placement offering of units (the "Brokered Offering") with PowerOne Capital Markets Limited acting as agent (the "Agent"). The Company issued 3,300,000 units ("Units") of the Company at a price of $0.15 per Unit for gross proceeds of $495,000 pursuant to the Brokered Offering. Each Unit is comprised of one common share of the Company and one common share purchase warrant ("Warrant"), with each Warrant exercisable into a common share of the Company at an exercise price of $0.20 for a period of 24 months.

The Company paid the Agent a commission of 7% of the gross proceeds of the Brokered Offering which was satisfied through the issuance of 231,000 Units. In addition, the Company issued 231,000 broker warrants to the Agent, with each broker warrant being exercisable into a Unit at any time until the 24 month anniversary of their issuance at a price of $0.15 per Unit.

The Company also issued 230,000 Units pursuant to the completion of the first tranche of a non-brokered private placement of Units (the "Non-Brokered Offering") on the same terms of the Units as issued pursuant to the Brokered Offering for gross proceeds of $34,500. The Company may issue up to $1,000,000 of Units under the Non-Brokered Offering.

All of the securities issued in connection with the Brokered Offering and the Non-Brokered Offering will be subject to a four month hold period from the date of issue.



Proceeds of the Brokered Offering and the Non-Brokered Offering will be used to fund general working capital, including marketing and research and development.

About Sprylogics International Corp.

Sprylogics International Inc. develops advanced search, analysis, and information display tools and services. These solutions enable users to search large amounts of unstructured data on the Web, and in internal corporate databases, and convert it into actionable intelligence. The core technology driving Sprylogics' solutions is embedded in the Cluuz Search Engine platform which enables both consumers and corporate users to methodically search the Internet and internal corporate resources and find the information they are looking for. Cluuz search results are visually displayed through patent pending semantic graphs and result in improved decision making capabilities. To find out more, visit www.sprylogics.com.

Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such statements use such words as "may," "will," "expect," "anticipate," "project," "believe," "plan" and other similar terminology. The risks and uncertainties are detailed from time to time in reports filed by the Company with securities regulatory authorities to which recipients of this press release are referred for additional information concerning the Company, its prospects and the risks and uncertainties relating to the Company and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of the Company to be materially different from those contained in forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking information contained in this press release is current only as of the date of this press release. There should not be an expectation that such information will in all circumstances be updated, supplemented or revised whether as a result of new information, changing circumstances, future events or otherwise.



The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contacts:
Sprylogics International Corp.
Michael Frank
CEO
(416) 221-5119
Email: michael@sprylogics.com
Website: www.sprylogics.com


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