Critical Outcome Technologies Inc. Announces Private Placement

LONDON, ONTARIO, Jun 10 (MARKET WIRE) --
Critical Outcome Technologies Inc. (TSX VENTURE: COT) announced today
that the Company is undertaking a brokered private placement of common
share units (Units) with accredited investors for gross proceeds of up to
$5,500,000 CAD. The agent for this private placement is Mr. Siegfried
Gutsche of Calgary, Alberta. The issue price of a Unit has been set at
$0.85 CAD per Unit, which represents the average sixty-day trading price
of the underlying common shares. A Unit consists of one common share and
one-half of one common share purchase warrant. One whole warrant entitles
the holder to acquire a common share of the Company at a price of $1.11
for up to thirty-six months following closing. The common shares issued
under this offering will be subject to a four-month hold from the date of
closing.

The securities will be sold on a private placement basis in Alberta,
British Columbia and Ontario. These securities have not been and will not
be registered under the U.S. Securities Act of 1933, as amended (the
"Act"), and may not be offered or sold in the United States or to or for
the account of U.S. persons unless registered under the Act or unless an
exemption from registration is available. This news release does not
constitute an offer to sell, or the solicitation of an offer to buy, nor
shall there be any sale of the securities in the United States, Canada or
any jurisdiction in which such offer, solicitation or sale would be
unlawful.

The proceeds of the private placement will be used for multiple purposes
including accelerating the development of COTI-2, the Company's lead
oncology compound, through a Phase 1B clinical trial; advancing
development and research of multiple products from its robust pipeline;
and for other business expansion purposes. These initiatives are a
proactive response meeting the shifting market demands for novel small
molecule discovery more aggressively.

Closing of the private placement is scheduled on or about July 10, 2009
and is subject to certain conditions, including normal regulatory
approvals and final acceptance of the completed private placement by the
TSX Venture Exchange.

This news release contains forward-looking information that is not
comprised of historical facts. Forward-looking information involves
risks, uncertainties and other factors that could cause actual events,
results, performance, prospects and opportunities to differ materially
from those expressed or implied by such forward-looking information.
Forward-looking information in this news release includes, but is not
limited to, the Company's anticipated use of proceeds and the expected
timing for closing the offering. Factors that could cause actual results
to differ materially from such forward-looking information include, but
are not limited to, failure to obtain TSX Venture Exchange approval of
the offering, general business and economic uncertainties and adverse
market conditions, as well as those risks set out in the Company's public
documents filed on SEDAR. Although the Company believes that the
assumptions and factors used in preparing the forward-looking information
in this news release are reasonable, undue reliance should not be placed
on such information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur in the
disclosed periods or at all. The Company disclaims any intention or
obligation to update or revise any forward-looking information, whether
as a result of new information, future events or otherwise, other than as
required by law.

About Critical Outcome Technologies Inc.

COTI is formed around a unique computational platform technology called
CHEMSAS(R), 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

Contacts:
Critical Outcome Technologies Inc.
Mr. Michael Cloutier
CEO
(519) 858-5157
mcloutier@criticaloutcome.com

Critical Outcome Technologies Inc.
Dr. Wayne Danter
President & CSO
(519) 858-5157
wdanter@criticaloutcome.com

Critical Outcome Technologies Inc.
Gene Kelly
CFO
(519) 858-5157
gkelly@criticaloutcome.com
www.criticaloutcome.com

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