Critical Outcome Technologies Inc.

Critical Outcome Technologies Inc.

May 02, 2007 18:43 ET

Critical Outcome Technologies Inc. Announces the Issuance of Stock Options

LONDON, ONTARIO--(CCNMatthews - May 2, 2007) - Critical Outcome Technologies Inc. (TSX VENTURE:COT) announces today, under the Company's Stock Option Plan, that the Board of Directors approved the granting of 130,000 stock options on Tuesday May 1, 2007 to Mr. Murray Wallace who was appointed a Director of the Company and Chairman of the Audit Committee on April 23, 2007. The exercise price is $1.00 per share and the stock options vested immediately. The exercise price represents the closing price of the Company's common shares on April 30, 2007, as reported on the TSX Venture Exchange.

Stock options enhance the Company's ability to attract and retain talented people by providing compensation incentives to employees, directors, officers and consultants for future services provided to the Company. The Board believes this grant to be reasonable in keeping with expected future services to be provided.

About Critical Outcome Technologies Inc.

COTI is formed around a unique computational platform technology called CHEMSAS®, which allows for the accelerated identification, profiling and optimization of targeted small molecules potentially effective in the treatment of human diseases for which current therapy is either lacking or ineffective. COTI's business is focused on the discovery and pre-clinical development of libraries of novel, optimized lead molecules for the treatment of specific cancers, HIV and multiple sclerosis. Currently, five targeted libraries of lead compounds (small cell lung cancer, multiple sclerosis, HIV integrase inhibitors, colorectal cancer, and acute myelogenous leukemia in adults) are under active development.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information