Cortex Business Solutions Inc.

Cortex Business Solutions Inc.

December 08, 2011 08:00 ET

Cortex Reports Network Statistics for the Month of November 2011

CALGARY, ALBERTA--(Marketwire - Dec. 8, 2011) - Cortex Business Solutions Inc. (TSX VENTURE:CBX), reports the following network statistic updates for the month of November 2011. This report is issued the second Thursday of each month.


  • Since our last report, two new buying organizations have been signed, bringing the total new buying organizations signed in fiscal 2012 to six.
    • Twin Butte Energy Ltd
    • Sure Energy
  • The volume of transactions on the Cortex Network in November was 666,528 a 7% increase over October
  • 217 new suppliers were added to the Cortex Network in November 2011 for a year to date total of 1008 new customers in fiscal 2012
  • Total Active Contracts increased 4% to 5,998

Details Graph:

Network Statistics:

On November 28, 2011 Cortex Business Solutions disclosed it had 73,171 common shares currently in application with the TSX Venture Exchange in alignment with its 2011 Hub Resolution award and 2,076,678 common shares in application to the TSX Venture Exchange in accordance with the Company's Employee Performance Management Program ("EPM"). The Company has received approval from the exchange to issue the 73,171 common shares in alignment with the Hub Resolution and 2,104,985 (386,160 to insiders) in alignment with the Company's EPM program.

About Cortex Business Solutions

Cortex Business Solutions Inc. is an Enterprise eProcurement 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.

Forward-Looking Statements

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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