Cortex Announces Overnight Marketed Equity Financing

CALGARY, ALBERTA--(Marketwired - Feb. 13, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Cortex Business Solutions Inc. (TSX VENTURE:CBX) ("Cortex" or the "Company") is pleased to announce that it intends to raise up to $10 million in gross proceeds (before any exercise of the Over-Allotment Option described below) by way of an overnight marketed offering of common shares (the "Common Shares") of the Company. Cortex has today filed with the securities commissions in Alberta, British Columbia, Manitoba, Saskatchewan and Ontario, and has received a receipt for, a preliminary short form prospectus qualifying the Common Shares to be distributed pursuant to the Offering.

The Offering will be conducted through a syndicate of underwriters led by Cormark Securities Inc. (the "Underwriters"). The price per Common Share will be determined by the Underwriters and Cortex in the context of the market at the time of entering into a definitive underwriting agreement between the Company and the Underwriters. Cortex has granted to the Underwriters an over-allotment option (the "Over-Allotment Option"), which entitles the Underwriters to acquire at any time up to 30 days following the closing of the Offering, at the same issue price as the Offering, up to an additional 15% of the Common Shares distributed in the Offering. The Common Shares to be distributed in the Public Offering may be sold outside of Canada where they may be lawfully sold on a basis exempt from the prospectus and registration requirements of any such jurisdiction.

The Offering is scheduled to close on or about February 28, 2014 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.

The net proceeds of the Offering will be used for sales and market expansion and for general corporate and working capital purposes.

The Common Shares offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Cortex Business Solutions Inc.

Cortex Business Solutions Inc. (TSX VENTURE:CBX) is an enterprise eProcurement solutions company that improves efficiencies, reduces costs and streamlines procurement and supply chain processes for its customers. Accessing the Cortex 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 clients' existing business environment. For more information, please visit www.cortex.net.

Except for historical information, this press release contains forward-looking statements, which reflect the Company's current expectation regarding future events. In particular, the press release contains forward-looking statements regarding the expected closing date and expected use of proceeds from the Offering. These forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, changing market conditions, receiving the necessary regulatory approvals, and other risks detailed from time-to-time in the Company's ongoing filings. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in this press release might not occur.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.