Scott Lamacraft

February 28, 2014 09:21 ET

Acquisition of Shares of Cortex Business Solutions Inc.

TORONTO, ONTARIO--(Marketwired - Feb. 28, 2014) - Scott Lamacraft announced today that he has acquired 30,000,000 common shares ("Common Shares") of Cortex Business Solutions Inc. ("Cortex") pursuant to a public offering of Common Shares (the "Offering") by Cortex. Following completion of the Offering, Mr. Lamacraft has beneficial ownership, or control or direction over 54,169,708 Common Shares, representing 15.0% of the issued and outstanding Common Shares, and 641,504 warrants to purchase Common Shares. On a partially diluted basis, Mr. Lamacraft has beneficial ownership, or control or direction over 54,811,212 Common Shares, representing 15.1% of the issued and outstanding Common Shares. Mr. Lamacraft effected the purchases of the Common Shares for investment purposes. Depending on market and other conditions, Mr. Lamacraft may from time to time in the future increase or decrease his ownership, control or direction over Common Shares or other securities of Cortex, through market transactions, private agreements or otherwise. The acquisition of the Common Shares was made through a treasury issuance by Cortex.

This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters. A copy of this report may be obtained by contacting Mr. Lamacraft at (416) 362-7485.

Contact Information

  • Mr. Lamacraft
    (416) 362-7485