Angel and Institutional Investor backed Slyce goes public on TSX Venture
SLYCE Inc., formerly Oculus Ventures Corporation (TSX-V: OVX.H), has received the final TSX Venture Exchange bulletin confirming completion of the Qualifying Transaction (QT) and its common shares will commence trading on the TSX Venture Exchange on July 21, 2014 under the trading symbol “SLC.”
On June 26, 2014, Oculus Ventures and SLYCE Inc. (Old Slyce) completed a business combination transaction by way of an amalgamation of Old Slyce with 1813472 Alberta Ltd., a wholly owned subsidiary of Oculus Ventures. The Amalgamation constituted the QT for the Oculus Ventures.
As a condition to closing the transaction, Old Slyce completed a brokered private placement financing of 20,000,000 subscription receipts offered at $0.60 per subscription receipt and raised gross proceeds of $12 million. As part of the amalgamation these subscription receipts converted into 20,000,000 commons shares of SLYCE.
“This marks another significant milestone for our company. In the past 12 months, visual search – the technology that enables direct purchasing from images – has experienced significant interest from within the retail industry. The Slyce platform helps to solve many issues leading retailers are facing with changing consumer habits and rapidly advancing technology,” said Mark Elfenbein, President & Interim CEO of SLYCE.
Formerly known as Quick Revenue Code Inc., Old Slyce has raised over $26 million from private and institutional investors.