CBX Cortex Business Solutions Inc.

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 closed its previously announced short form prospectus
offering (the "Offering") of common shares in the capital of the Company
("Common Shares") for aggregate gross proceeds of $10,000,000. The Offering was
led by Cormark Securities Inc. and included Wolverton Securities Ltd.
(collectively, the "Underwriters"). Under the Offering, a total of 100,000,000
Common Shares were issued at a price of $0.10 per Common Share (the "Offering
Price"). In addition to a cash commission, the Underwriters received in
aggregate 6,000,000 compensation options in connection with the Offering, with
each compensation option exercisable into one Common Share at the Offering Price
for a period of twenty-four months from the date of issuance.


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


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


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 with respect to the use of proceeds of the Offering. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cortex Business Solutions Inc.
Mr. Ryan Lailey
SVP of US Operations & Business Development
(403) 219-2838
investor-relations@cortex.net
www.cortex.net

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