LONDON, ONTARIO--(Marketwire - Sept. 20, 2012) - Critical Outcome Technologies Inc. (COTI) (TSX VENTURE:COT) announced today that it has received consent from the TSX Venture Exchange (TSXV) to extend the expiry date of 12,500,000 common share purchase warrants (Warrants) issued as part of its private placement in March and April 2011. Each Warrant entitled its holder to purchase one common share of the Company at an exercise price of $0.30 per share for a period of 18 months from the date of issue, with 8,152,500 Warrants expiring on September 24, 2012, 2,187,500 Warrants expiring on October 6, 2012 and 2,160,000 Warrants expiring on October 20, 2012. None of the Warrants were exercised since their issuance.
The expiry date of the Warrants has been amended to 5:00 pm EDT on October 31, 2013. The remaining terms and conditions of the Warrants remain unchanged.
The Company will deliver a Notice of Amendment reflecting the amended expiry date to the registered holders of the Warrants.
About Critical Outcome Technologies Inc. (COTI)
COTI is a leading‐edge technology company specializing in accelerating the discovery of small molecules thus enabling new drugs to be brought to market in a more cost effective, efficient and timely manner. COTI's proprietary artificial intelligence system, CHEMSAS®, utilizes a series of predictive computer models to identify compounds most likely to be successfully incorporated into disease‐specific drug discovery, as well as subsequent optimization and preclinical development. These compounds are targeted for a variety of diseases, particularly those for which current treatments are either lacking or ineffective.
For more information, please visit www.criticaloutcome.com.
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.