CALGARY, ALBERTA--(Marketwire - March 19, 2013) - Cortex Business Solutions Inc. (TSX VENTURE:CBX) (the "Company" or "Cortex") is pleased to announce that it has increased its previously announced "bought deal" financing to 38,920,000 units (the "Units") of the Company. Cormark Securities Inc. (the "Underwriter"), on its own behalf has agreed to purchase an additional 17,295,000 Units at the same purchase price of $0.185 per Unit (the "Offering Price") for additional gross proceeds of $3,199,575. Total gross proceeds of the Offering are now $7,200,200 (the "Offering").

Each Unit will consist of one common share of Cortex (a "Common Share") and one-half of one Common Share purchase warrant (each full warrant, a "Warrant"), each full Warrant being exercisable to acquire one common share of Cortex at a purchase price of $0.23125 for a period of 36 months following the closing of the Offering.

In addition, the Company has granted the Underwriters an over-allotment option to purchase up to an additional 5,838,000 Units (representing 15% of the total up-sized Offering which may be in any combination of Common Shares and Warrants) at the Offering Price exercisable within 30 days after the closing of the Offering for additional gross proceeds in the amount of up to $1,080,300.

Closing of the Offering is expected to occur on or about April 4, 2013 and is subject to regulatory approval including that of the TSX Venture Exchange.

The net proceeds of the Offering will be used for U.S. expansion, and for general corporate and working capital purposes.

The Units to be issued under the Offering will be offered by way of a short form prospectus in British Columbia, Alberta, Manitoba, Saskatchewan and Ontario and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, in accordance with Rule 144A or Regulation D and in certain other jurisdictions.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the Unites States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

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 further information about Cortex Business Solutions, please visit [ www.cortex.net ].

Caution Regarding Forward-Looking Information

This press release may contain forward-looking statements with respect to the Company, its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of the Company discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations and the factors described under "Risk Factors" in the Management's Discussion and Analysis and Annual Information Form of the Company which are available at [ www.sedar.com ]. The cautionary statements qualify all forward-looking statements attributable to the Company and persons acting on their behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and the Company has no obligation to update such statements.

Contributing Sources

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