CALGARY, ALBERTA--(Marketwire - March 27, 2013) -

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 filed with the applicable Canadian securities regulators the final prospectus for its previously announced short form prospectus offering (the "Offering") for aggregate gross proceeds of $7,200,200. The Offering is being led by Cormark Securities Inc. and includes a syndicate of underwriters consisting of Wolverton Securities Ltd. and Stonecap Securities Inc. (collectively, the "Underwriters"). A total of 38,920,000 units will be issued under the Offering, with each unit consisting of one common share and one-half of one common share purchase warrant exercisable at $0.23125 for a period of three years from the date of issuance. The Company has also granted an over-allotment option to the Underwriters for the purchase of up to an additional 5,838,000 units (representing 15% of the total Offering which may be in any combination of common shares and warrants) at the offering price of $0.185 exercisable within 30 days after the closing of the Offering for additional gross proceeds of up to $1,080,300. The prospectus has been filed in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario and the Company expects that the Offering will be completed on or about April 4, 2013. Completion of the Offering is subject to final approval from the TSX Venture Exchange.

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.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained herein constitute forward-looking statements, including statements concerning the anticipated closing date and final approval from the TSX Venture Exchange. The Company believes 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.

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