Cortex Business Solutions Inc.
TSX VENTURE : CBX
OTCQX : CTPNF

Cortex Business Solutions Inc.

May 12, 2014 08:30 ET

Cortex Appoints Randy Henderson as Chairman of the Board

CALGARY, ALBERTA--(Marketwired - May 12, 2014) - Cortex Business Solutions Inc. (TSX VENTURE:CBX)(OTCQX:CTPNF), an enterprise e-Procurement solutions company, has appointed Randy Henderson as chairman of its board of directors.

Mr. Henderson has served on the Cortex board of directors since June 2011 and brings to the chair more than 30 years of experience in management and finance. He has held executive leadership positions for both publicly-traded and private companies, serving as CFO of numerous entities, including PGNX Capital Corporation, Emera Corporation and ENMAX Corporation. In 2005, Mr. Henderson founded his own consultancy firm, Henderson Corporate Financial Consulting Inc., where he serves as an advisor to various boards and executive leadership teams. He is a board member and chairs the audit committees of Harvest Operations Corporation and PGNX Capital Corporation and serves as a member of the audit committee of the Province of Alberta.

Mr. Henderson is a member of the Canadian Institute of Chartered Accountants (CICA) and holds the Corporate Finance (CF) designation by the CICA, as well as the ICD.D designation offered by the Institute of Corporate Directors of Canada. He earned his Bachelor of Commerce in Accounting from the University of Calgary and completed the Stanford Executive Program at the Stanford Graduate School of Business. In 2003, he was nominated for Canada's CFO of the Year award.

"Randy is a recognized industry leader in strategic and financial consulting," said Art Smith, president and CEO of Cortex. "His breadth of experience and extensive record of value creation for companies of all sizes are valuable assets to our organization. As our new chairman, we look to benefit from his numerous industry affiliations and seasoned guidance as we grow the company's presence in the e-Procurement marketplace."

Stock Options

In accordance with the company's approved compensation program, 500,000 stock options were issued to directors and officers at a strike price equal to market value at close on May 9, 2014.

About Cortex Business Solutions

Cortex Business Solutions Inc. (TSX VENTURE:CBX)(OTCQX:CTPNF) is an enterprise e-Procurement 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 more information, please visit www.cortex.net.

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