Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Sprylogics International to acquire Poynt

Stockhouse Editorial
0 Comments| May 31, 2013

{{labelSign}}  Favorites
{{errorMessage}}

Sprylogics International (TSX: V.SPY, Stock Forum) Friday announced that it has signed a Letter of Intent to acquire mobile applications provider Poynt, this according to a company news release. Intertainment Media (TSX: V.INT) acquired a 50% interest in Poynt earlier this year.

Sprylogics will provide the owners of Poynt with a two year note in the amount of $2.5 million with an annual interest rate of 6.5% payable quarterly in cash and/or stock, which will be secured against the assets of Poynt, as well as issue up to $500,000 in Sprylogics shares.

Poynt’s current owners will retain a 10% interest in the exploitation of Poynt patents. Sprylogics stock moved up 8% to 6.5 cents on Friday.



{{labelSign}}  Favorites
{{errorMessage}}