CALGARY, ALBERTA – July 26, 2016 - Cortex Business Solutions Inc. (TSXV: CBX), an online business-to-business network as a service, that helps companies reduce invoice processing times by connecting and interacting with each other, announced today that its board of directors has approved the granting of incentive stock options to certain senior leadership individuals in accordance with the company’s stock option plan which was approved by shareholders and TSXV in January 2016.
The strike price of the stock options will be determined in accordance to the current stock option plan and the rules as defined by the TSX Venture Exchanges. The strike price is determined by market value at business close the day prior to issuance, being July 25, 2016 for a strike price of $2.28. The number of stock options issued to insiders is 195,000 for a total option grant of 219,000.
The number of stock options issued to insiders is 195,000 for a total option grant of 219,000.
About Cortex Business Solutions
Cortex Business Solutions Inc. (TSXV: CBX) is a business-to-business network that enables electronic invoicing for buying and supplying organizations. The Cortex network offers flexible connection methods to reduce the time required to process invoices and tools that leverage existing customer technologies and processes. Access to the Cortex Network enhances the exchange of documents allowing companies to connect and interact with each other to grow their businesses.
Investor Relations Contacts:
|Joel Leetzow||Sandra Fawcett (formerly Weiler)||Andrew Stewart|
|President and CEO||CFO||Director, Marketing & Investor Relations|