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Cortex Business Solutions Inc Announces Filing Of Final Prospectus For Bought Deal Prospectus Offering


Wednesday, 27 Mar 2013 08:00am EDT 

Cortex Business Solutions Inc announced that it has filed with the applicable Canadian securities regulators the final prospectus for its previously announced short form prospectus offering (the Offering) for aggregate gross proceeds of $7,200,200. The Offering is being led by Cormark Securities Inc. and includes a syndicate of underwriters consisting of Wolverton Securities Ltd. and Stonecap Securities Inc. (collectively, the Underwriters). A total of 38,920,000 units will be issued under the Offering, with each unit consisting of one common share and one-half of one common share purchase warrant exercisable at $0.23125 for a period of three years from the date of issuance. The Company has also granted an over-allotment option to the Underwriters for the purchase of up to an additional 5,838,000 units (representing 15% of the total Offering which may be in any combination of common shares and warrants) at the offering price of $0.185 exercisable within 30 days after the closing of the Offering for additional gross proceeds of up to $1,080,300. The prospectus has been filed in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario and the Company expects that the Offering will be completed on or about April 4, 2013. Completion of the Offering is subject to final approval from the TSX Venture Exchange. 

Company Quote

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2:09pm EDT