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(VSE-CBX) - CORTEX BUSINESS SOLUTIONS INC Retour
Date Heure Manchette
06 Mai 2011 13:12 Cortex Business Solutions Inc. Increases Bought Deal Financing to $7.5 Million
CALGARY, ALBERTA--(Marketwire - May 6, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
U.S.

(figures in Canadian dollars)

Cortex Business Solutions Inc. (TSX VENTURE:CBX) (the "Company") is pleased to
announce that, in connection with the previously announced bought deal
offering of Units led by Stonecap Securities Inc., and including Wolverton
Securities Ltd. and Byron Capital Markets Ltd. (collectively the
"Underwriters"), the Company and the Underwriters have agreed to increase the
total size of the offering to an aggregate of 16,667,000 units (the "Units")
from treasury of the Company at a purchase price of $0.45 per Unit (the "Issue
Price") for gross proceeds of $7,500,150 (the "Offering").

Each Unit shall consist of one common share (the "Common Shares") and one-half
of one common share purchase warrant (the "Warrants"). Each whole Warrant
shall entitle the holder thereof to acquire one common share of the Company at
$0.60 for 18 months following Closing.

The net proceeds of the Offering will be used for expanding marketing and
business development in the United States, sector expansion, working capital
and general corporate purposes.

The Offering will be made by way of private placement to accredited investors
in all provinces of Canada. The Offering is expected to close on or about May
31, 2011, and is subject to certain conditions including, but not limited to,
the receipt of all necessary approvals including the approval of the TSX
Venture Exchange and the relevant securities regulatory authorities. The Units
will be subject to a four-month hold period.

This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have
not been and will not be registered under the United States Securities Act of
1933, as amended, or any state securities laws and may not be offered or sold
within the United States or to U.S. Persons unless an exemption from such
registration is available.

Some of the statements contained in this release are forward-looking
statements, such as estimates and statements that describe the Company's
future plans, objectives or goals, including words to the effect that the
Company or management expects a stated condition or result to occur. Since
forward-looking statements address future events and conditions, by their very
nature, they involve inherent risks and uncertainties. Actual results in each
case could differ materially from those currently anticipated in such
statements.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
U.S.


Contact:

Cortex Business Solutions
Ryan Lailey
VP of Business Development & Corporate Strategy
(403) 219-1504
investor-relations@cortex.net
www.cortex.net




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24 Octobre 2014 19:50
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