SPYR, INC. Retains Investment Banking Firm to Assist With Strategic Mergers and Acquisitions

DENVER, CO--(Marketwired - April 17, 2015) - SPYR INC. (OTCQB: SPYR), a holding company with wholly-owned subsidiaries in the digital publishing and advertising industry, the mobile game and app development industry, and the food service industry, today announced that it has retained Chardan Capital Markets, LLC ("Chardan"), a full-service, global boutique investment banking firm headquartered in New York City, to identify strategic acquisition prospects for the Company.

Chardan Capital Markets, LLC is a privately held investment banking firm with a focus on small and medium-sized enterprises and is well versed in the industry segments in which SPYR operates. Chardan has been engaged to identify candidates for SPYR's potential acquisition or those with which it can enter strategic relationships, thus enabling SPYR to take advantage of larger market opportunities in this fast-growing and very attractive segment of the technology market.

Jim Thompson, CEO of SPYR, INC. comments, "With SPYR's strong balance sheet, I felt that the timing was right for SPYR to engage Chardan's M&A services. Mergers and acquisitions are a component of SPYR's growth strategy. We are fortunate to have a firm such as Chardan to locate, analyze, and negotiate potential acquisitions on SPYR's behalf. Chardan not only understands our goals and objectives, but also has a heightened understanding of SPYR's market niche. As such, I am excited to welcome Chardan to the SPYR team and expect that this new strategic alliance will prove to be invaluable as we work to increase shareholder value."

About Chardan Capital Markets, LLC

Chardan Capital Markets is an international investment bank headquartered in New York City, with offices in Palo Alto, Sydney and Beijing. Chardan provides a wide array of financial services including investment banking, capital markets, international trading and equity research. The investment banking group focuses on providing banking and advisory services to private and public companies in small and mid-cap markets. The institutional coverage of Chardan Capital Markets spans North America, Europe and Asia. Chardan Capital Markets LLC is a registered broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: Financial Industry Regulatory Authority (FINRA); Municipal Securities Rulemaking Board (MSRB); Securities Insurance Protection Corporation (SIPC); NASDAQ Stock Market and the NYSE Arca, Inc. To learn more about Chardan Capital Markets, visit www.chardancm.com.

About SPYR, INC.

SPYR, INC. is a holding company that through its wholly-owned subsidiary, Franklin Networks, Inc., is engaged in digital publishing and advertising operations, and through its wholly-owned subsidiary SPYR Apps, LLC, is engaged in mobile application and game development. SPYR, Inc. also owns and operates an "American Diner" theme restaurant located in the Philadelphia International Airport in Philadelphia, Pennsylvania called "Eat at Joe's®" through its other wholly-owned subsidiary, E.A.J. PHL Airport Inc. The Company is currently exploring opportunities for additional acquisitions in these and other verticals, including mobile application and game development, in order expand its holdings, to drive and increase revenue and to generate profits and build value for shareholders.

Safe Harbor Statement

This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Readers are advised to review our filings with the Securities and Exchange Commission that can be accessed over the Internet at the SEC's website located at http://www.sec.gov.