/EINPresswire.com/ -- DENVER, CO--(Marketwired - Nov 28, 2017) - SPYR, INC. (OTC PINK: SPYR), a holding company with a wholly owned subsidiary in the mobile game & app development and publishing industry, today announced that it has increased its non-dilutive, non-convertible Line of Credit by an additional $500,000, bringing the total Line of Credit to $1 million. The additional funds will be used to further SPYR's recently announced new game development. The terms of the expanded Line of Credit remain the same as the original credit extension announced on Form 8-K filed with the U. S. Securities and Exchange Commission on September 6, 2017.

The Line of Credit was provided by Berkshire Capital Management Company, a company owned and controlled by SPYR's Chairman of the Board.

SPYR CEO & President, James R. Thompson, said of the Line of Credit increase, "With these additional funds, we will be able to move toward profitability more rapidly than we would otherwise. The gaming industry is experiencing enormous growth, which is expected to continue at double-digit year-over-year rates for years to come as the industry continues to grow. It is our goal to position SPYR so that it can realize the maximum benefits from this growth."

About SPYR

SPYR, INC. is a holding company that through its wholly owned subsidiary SPYR APPS, LLC, is engaged in mobile application and game publishing and development. The Company is currently exploring opportunities for additional acquisitions in these and other verticals, including mobile application and game development, in order to 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, as well as SPYR's website located at http://www.spyr.com, and SPYR's community channel on Twitter located at https://twitter.com/spyrinc.