Spinlogic Technologies Closes Qualifying Transaction

Spinlogic Technologies Inc. is pleased to announce that it simultaneously closed on February 19, 2007 a private placement of $745,000 as well as its qualifying transaction, as that term is defined in Policy 2.4 of the Corporate Finance Manual of the TSX Venture Exchange Inc. (the "Exchange"), and as announced in the press release issued by Spinlogic on December 29, 2006 in connection with the filing of its filing statement.

The qualifying transaction consists in the acquisition, by Spinlogic, of all of the issued and outstanding shares of Dynec Corporation ("Dynec") in consideration of the issuance of 32,282,044 common shares of Spinlogic, at a deemed price of $0.15 per share, for an aggregate amount of $4,842,307, and by the issuance of an aggregate of 4,910,250 Spinlogic options and warrants to Dynec shareholders and debenture holders, exercisable at prices varying between $0.15 and $0.24 per share (the "Qualifying Transaction").

Simultaneously with the closing of its Qualifying Transaction, Spinlogic completed a private placement of $745,000, by the issuance of 6,622,221 units at a price of $0.1125 per unit, without a broker (the "Private Placement"). Each unit comprises one common share of Spinlogic and one warrant to subscribe for one common share of Spinlogic at a price of $0.15 per share, exercisable at any time prior to November 30, 2008. The Private Placement was made to accredited investors and to family, friends and business associates as these terms are defined in Regulation 45-106 respecting prospectus and registration exemptions. The securities underlying the units issued pursuant to the Private Placement are subject to a holding period of four months ending on June 20, 2007. No commission or compensation of any form has been or will be paid to any person in connection with the Private Placement or following its completion.

Certain directors and officers of Spinlogic have contributed to the Private Placement, for a total amount of $495,000. The securities underlying the units issued to such directors and officers will be held in escrow for a period of three years as required by the policies of the Exchange. These subscriptions by certain directors and officers were made pursuant to an exemption from the valuation requirement set out in Regulation Q-27 respecting Protection of Minority Securityholders in the Course of Certain Transactions
("Q-27"), i.e., the exemption set out in section 5.6, paragraph (2) of Q-27, and an exemption from the minority approval requirement, i.e., the exemption set out in section 5.8(1), paragraph (2), of Q-27, as the fair market value of the transaction is not more than 25% of Spinlogic's market capitalization.

Despite the application of Q-27, Spinlogic did not file a material change report within 21 days before the closing of the Qualifying Transaction, due to the particular nature of the Qualifying Transaction, whose closing remained uncertain as it required several prior approvals and consents.

In the context of the Qualifying Transaction, Spinlogic and Dynec amalgamated by way of a vertical short-form amalgamation. The Board of Directors of Spinlogic remains comprised of the same directors as before, namely, André Poirier, Paulin Lessard, Claude Michaud and Jacques Nadeau.

Also, immediately following the closing of the Qualifying Transaction, the following individuals are officers of Spinlogic:

André Poirier (Chairman, President and Chief Executive Officer)

Paulin Lessard (Executive Vice-President)

Daniel Gagnon (Vice-President, Finance, and Corporate Secretary)

Jean Lavoie (Vice-President)

Operational management will be ensured by Jean Lavoie, assisted by Camil Bourbeau and Colin Surprenant.

About Dynec

Established in 1998, Dynec dedicated its first three years entirely to research and development, creating a first version of its software to enable the implementation of an innovative EDI (electronic document interchange) transaction solution between business partners. Dynec quickly became a major player in the field of software for the optimization of business relations and distributed intelligence.

Dynec's products and services address actual business problems encountered by retailers, their suppliers and distributors. Dynec's solutions are designed to tackle the reality of these enterprises, with the objective of streamlining the existing relationships of their logistic chain. Using Dynec's software, companies are able to securely exchange documents, reports and confidential information. Use of the software can optimize operations and maximize profits for all partners.

Today, enterprises use Dynec's solutions to exchange business information within the healthcare/biomedical, food & beverage, hardware/home improvement, electronics, apparel and manufacturing/industrial sectors. Dynec's principal establishment is located in Montréal.

Certain deficiencies contained in the filing statement filed on December 29, 2006

Certain non-material deficiencies were identified in the filing statement of Spinlogic filed, in French only, on December 29, 2006, which can be viewed at www.sedar.com. Such deficiencies are as follows:

- At page 1, in the definition of "Bons de CRCD et DCDM", the date "30 novembre 2008" should instead read "4 mai 2008";

- At pages 13, 23 and 51, immediately following the words "d'un nombre illimité d'actions ordinaires, sans valeur nominale", referring to the authorized share capital of Spinlogic, the following words should be added: "d'un nombre illimité d'actions privilégiées de premier rang sans valeur nominale, et d'un nombre illimité d'actions privilégiées de second rang sans valeur nominale" (there are no issued and outstanding preferred shares);

- In the table at page 62, the figures representing options issued by Spinlogic to Lothian Partners 27 (sarl) SICAR pursuant to the Qualifying Transaction should read 854,000 and 546,000, respectively, instead of 860,000 and 540,000, the total remaining unchanged; and

- At pages 8 and 65, the footnotes indicating that Newport Pacific Trust Company Limited is controlled in any way by Stefan Vuillemenot Perrey are erroneous and should not have appeared in the filing statement.

The Exchange has conditionally approved listing of the common shares of Spinlogic for trading, which common shares will soon be traded under the symbol "SLO", dropping the ".P" suffix. -- www.cnxmarketlink.com