CALGARY, ALBERTA--(Marketwire - June 12, 2012) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Cortex Business Solutions Inc. (TSX VENTURE:CBX) (the "Company") is pleased to announce that it has completed its previously announced short form prospectus offering (the "Offering"), raising gross proceeds of $6,298,533. The Offering was led by Cormark Securities Inc. and included a syndicate of underwriters consisting of Stonecap Securities Inc. and Wolverton Securities Ltd. (collectively, the "Underwriters"). Under the Offering, a total of 31,492,665 common shares were issued. This included 1,492,665 common shares issued pursuant to the partial exercise of the over-allotment option by the Underwriters. The completion of the Offering is subject to final approval from the TSX Venture Exchange.

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

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained herein constitute forward-looking statements, including statements concerning final approval from the TSX Venture Exchange and the intended use of net proceeds. We believe the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.