/EINPresswire.com/ -- TORONTO, ONTARIO--(Marketwired - Jun 23, 2017) - Scott Lamacraft (the "Offeror") today disposed of (the "Disposition") an aggregate of 350,000 common shares (the "Disposed Shares") of Cortex Business Solutions Inc. (the "Corporation") representing approximately 3.9% of the issued and outstanding common shares of the Corporation (the "Shares"), through the facilities of the TSX Venture Exchange. The Disposed Shares were sold at a cash price of $4.10 per Disposed Share.

As of the date hereof, after giving effect to the Disposition, the Offeror owns, or exercises control or direction over 1,072,394 Shares, representing approximately 11.9% of the issued and outstanding Shares on a non-diluted basis.

Depending on market and other conditions, the Offeror may from time to time in the future increase or decrease his ownership, control or direction over Shares or other securities of the Corporation, through market transactions, private agreements or otherwise.

In this press release, for the purpose of calculating the percentage of Shares owned, or controlled or directed, the Offeror has assumed that there are 8,990,862 Shares issued and outstanding as of the date hereof, as reported by the Corporation in its most recently filed management's discussion and analysis as at March 31, 2017.

This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Corporation is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Corporation's documents on the System for Electronic Document Analysis and Retrieval and may also be obtained by contacting the Offeror at 416.362.7485.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.