Critical Outcome Technologies Inc. (COTI)

Critical Outcome Technologies Inc. (COTI)

August 30, 2013 16:08 ET

Critical Outcome Technologies Completes Final Tranche of Private Placement

LONDON, ONTARIO--(Marketwired - Aug. 30, 2013) - Critical Outcome Technologies Inc. (TSX VENTURE:COT) ("COTI" or the "Corporation") announced today that it has completed the third and final tranche of its previously announced non‐brokered private placement and issued 1,066,667 units (the "Units") at a price of $0.12 per Unit for gross proceeds of approximately $128,000. The total gross proceeds of the three tranches were approximately $1,225,000 on the issuance of 10,208,132 Units.

Each Unit consists of one common share and one warrant of the Corporation. Each warrant is exercisable for one common share of the Corporation at an exercise price of $0.26 per share for a period of 18 months from the date of issue. The Corporation paid finders' fees to arm's length third parties in connection with the third tranche in the aggregate amount of $6,400 in cash and issued an aggregate of 53,333 compensation warrants. Each compensation warrant is exercisable into one common share of the Corporation for a period of 18 months from the date of issue at an exercise price of $0.20 per share.

The common shares and warrants comprising the Units, the compensation warrants, and the common shares issuable upon the exercise of the warrants issued in connection with the third tranche are subject to restrictions on resale, which expire on December 31, 2013 in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The offering is subject to final acceptance by the TSX Venture Exchange.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

About Critical Outcome Technologies Inc. (COTI)

COTI is a leading‐edge technology company specializing in accelerating the discovery and development of small molecules - dramatically reducing the time and cost to bring new drugs to market. COTI'S proprietary artificial intelligence system, CHEMSAS®, utilizes a series of predictive computer models to identify compounds with a high probability of being successfully developed from disease specific drug discovery through chemical optimization and preclinical testing. These compounds are targeted for a variety of diseases, particularly those for which current treatments are either lacking or ineffective.

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

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