Cortex Announces Results of Annual General and Spe

CALGARY, Alberta, Dec. 09, 2016 (GLOBE NEWSWIRE) -- Cortex Business Solutions Inc. (“Cortex”), a network-as-a-service e-invoicing solutions provider, is pleased to announce that at the annual general and special meeting held in Calgary, Alberta on December 7, 2016 (the “Meeting”) holders (“Shareholders”) of common shares (“Common Shares”) of Cortex: (i) re-elected Randy Henderson (Chairman of the Board), Grant Billing, Scott Lamacraft, Mark Ripplinger, Gregory Mark and Joel Leetzow to the Board of Directors; (ii) re-appointed Pricewaterhouse Coopers LLP, as Cortex's auditors; (iii) approved the 2017 stock option plan; and (iv) approved Deferred Share Units (“DSUs”) for the Board of Directors as part of their annual compensation.

The independent members of the Board of Directors were each granted 15,175 DSUs each with a fair value of $40,000 for total issuance of 75,875 units with a total fair value of $200,000.  Cortex has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 are available for the granting of the DSUs.

About Cortex Business Solutions

Cortex Business Solutions Inc. (TSXV:CBX) is a business-to-business network that enables electronic invoicing for buying and supplying organizations. The Cortex network offers flexible connection methods to reduce the time required to process invoices and tools that leverage existing customer technologies and processes. Access to the Cortex Network enhances the exchange of documents allowing companies to connect and interact with each other to grow their businesses.

For more information, please visit www.cortex.net.

Neither the 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 News Release.

Investor Relations Contacts: Joel Leetzow President and CEO jleetzow@cortex.net 403-219-2838 Sandra Fawcett CFO sfawcett@cortex.net 403-219-2838 Andrew Stewart Director, Marketing & Investor Relations astewart@cortex.net 403-219-2838