Northcore Technologies Inc.

Northcore Technologies Inc.

October 16, 2012 17:46 ET

Northcore Appoints New Chairman of the Board of Directors

Christopher Bulger Assumes Role as Chairman of Northcore Technologies

TORONTO, ONTARIO--(Marketwire - Oct. 16, 2012) - Northcore Technologies Inc. (TSX:NTI)(OTCBB:NTLNF), a global provider of asset management and social commerce solutions, is pleased to announce the appointment of Christopher Bulger to the role of Chairman of the Board of Directors.

Mr. Bulger will be replacing outgoing Chair Paul Godin. Mr. Bulger is a long time director of Northcore and has led a number of key corporate initiatives such as the acquisition of Envision Online Media Inc.

"The team would like to thank Paul for his contributions to the progress that the Company has made during his tenure as Chairman. We wish him well in his future endeavors," said Amit Monga, CEO of Northcore Technologies. "We are pleased to welcome Chris as our Chair. He has played a crucial role in many of the Company's most important initiatives and we expect he will increase his contribution in this new capacity."

About Northcore Technologies Inc.

Northcore Technologies provides enterprise level software products and services that enable its customers to purchase, manage and dispose of capital equipment. Utilizing award-winning, multi-patented technology, as well as powerful, holistic Social Commerce tools, Northcore's solutions support customers throughout the entire asset lifecycle. Northcore's portfolio companies include Envision Online Media Inc., a specialist in the delivery of content management solutions and Kuklamoo, a family information web destination and national daily deal site targeting families with kids.

Northcore owns 50 percent of GE Asset Manager, LLC, a joint business venture with GE and holds a substantial intellectual property portfolio.

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This news release may include comments that do not refer strictly to historical results or actions and may be deemed to be forward-looking within the meaning of the Safe Harbor provisions of the U.S. federal securities laws. These include, among others, statements about expectations of future revenues, cash flows, and cash requirements. Forward-looking statements are subject to risks and uncertainties that may cause Northcore's ("the Company") results to differ materially from expectations. These risks include the Company's ability to raise additional funding, develop its business-to-business sales and operations, develop appropriate strategic alliances and successful development and implementation of technology, acceptance of the Company's products and services, competitive factors, new products and technological changes, and other such risks as the Company may identify and discuss from time to time, including those risks disclosed in the Company's Form 20-F filed with the Securities and Exchange Commission. Accordingly, there is no certainty that the Company's plans will be achieved. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, on SEDAR (the System for Electronic Document Analysis and Retrieval at and the US Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities of the Company in any jurisdiction.

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