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| | June 01, 2010
Cortex Annouces Exercise of Warrants
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| | /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./
Calgary, Canada -- (Marketwire -- June 1, 2010) Cortex Business Solutions Inc. (TSXV: CBX) ("Cortex" or the "Company") is pleased to announce that 12,704,250 warrants of the 13,050,000 which expired on May 29, 2010 have been exercised at $.30. In addition, 2,610,000 Compensation Units, issued in conjunction with the May 29, 2008 short form prospectus were exercised for 100% participation. The combined gross proceeds from these two exercises was $4,724,775. All unexercised warrants expiring May 29, 2010 will not be extended and have been cancelled.
"We are very pleased to see these warrants exercised" said Ryan D. Lailey VP Business Development at Cortex. "These additional funds, along with our recent bought deal, give Cortex the strongest balance sheet in company history and will allow Cortex to accelerate its growth in Canada, the United States and into new industry sectors."
About Cortex Business Solutions Inc.
Cortex Business Solutions Inc. is an industry leading service company that improves efficiencies, reduces costs and streamlines procurement and supply chain processes for its customers. Accessing the Cortex Trading Partner Network enhances the exchange of business critical documents, such as purchase orders, receipts and invoices resulting in improved cash flow management and business controls, while reducing day's outstanding and administrative costs. Cortex is a low cost, low risk solution that can be implemented quickly by leveraging its customers existing business environment. For more information please visit our website at www.cortex.net or contact:
Brisco Capital Partners
Scott Koyich, President
tel: (403) 215-5979
email: skoyich@briscocapital.com
Forward-Looking Statements
Statements in this release relating to matters that are not historical facts are forward-looking statements. Such forward-looking statements may involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Company to be materially different from any future results implied by such forward-looking statements. Forward-looking statements are often, but not exclusively identified by words such as "anticipate", "may", "expect", "plan", "future", "continue", "intends", "projects", "believes", "seek", "budget", "estimate" ,"forecast", "will", "predict", "potential" ,"target", "could", "might", and other similar expressions.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. |
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