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Cortex Reports Network Statistics for the Q1 F2014

Cortex Reports Network Statistics for the Q1 F2014 
CALGARY, ALBERTA -- (Marketwired) -- 11/14/13 -- Cortex Business
Solutions Inc. (TSX VENTURE:CBX) reports the following network
statistic updates for the first quarter of F2014. 
As indicated in our last Network Statistics update, Cortex now
reports on quarterly activity as opposed to monthly, to provide a
more consistent view of trends within the business. Going forward,
the following quarterly information will be presented in this
document: 


 
--  Total amount of new Hubs sold in the quarter 
--  Hubs that have gone live in the quarter 
--  Suppliers transacting in the quarter 
--  YOY transactions 
--  Number of 100% e-Billing sales & progress in quarter 
--  Amount of Suppliers added in quarter 

 
Summary 


 
--  In the past quarter, 3 new customers were signed to the new 100%
    eBilling solution: 
    --  Matrix Solutions (Canada) 
    --  Zedi (Canada) 
    --  Sunbelt Rentals (US) 
--  Since our last report 5 new buying organizations have been signed in
    Canada: 
    --  Enhance Energy Inc. 
    --  Clearbrook Resource Inc. 
    --  Crew Energy Inc. 
    --  Saguaro Resources Ltd. 
    --  Beaumont Energy Inc. 
--  Growth in the United States has continued with the signing of the
    following 2 buying organizations: 
    --  Fieldwood Energy 
    --  Finley Resources 
--  60 Hubs are now live on the Cortex Network, an increase of 100% year-
    over-year 
--  6,304 total Suppliers transacted in the quarter, which is a 16% increase
    over Q1, 2013 
--  Supplier initiated transactions increased 24% from 749,059 in Q1, 2013
    to 939,794 in Q1, 2014 
--  Year-over-year, transactions on the Network increased 19% from 2,522,913
    from Q1, 2013 to 3,000,632 in Q1, 2014 
--  360 new Suppliers have been added to the Cortex Network in Q1 2014 

 
Network Statistics 


 
                                    ----------------------------------------
                                      Q1 2013 Total  Q1 2014 Total   Change 
----------------------------------------------------------------------------
Total Transactions                        2,522,913      3,000,632       19%
----------------------------------------------------------------------------
Supplier Initiated Transactions             749,059        939,794       24%
----------------------------------------------------------------------------
Total Active Suppliers(i)                     5,417          6,304       16%
----------------------------------------------------------------------------
Total Hubs Active                                30             60      100%
----------------------------------------------------------------------------

 
(i)Going forward Cortex will be focusing on 'Total Active Suppliers'
in the quarter as a more accurate reflection of activity across the
Cortex Trading Partner Network. 
About Cortex Business Solutions 
Cortex Business Solutions Inc. is an Enterprise e-Procurement
solutions company that improves efficiencies, reduces costs and
streamlines procurement and supply chain processes for its customers.
Accessing the Cortex Network enhances the exchange of business
critical documents, such as purchase orders, receipts and invoices
resulting in improved cash flow management and business controls,
while reducing day's outstanding and administrative costs. Cortex is
a low cost, low risk solution that can be implemented quickly by
leveraging clients' existing business environment.  
For more information please visit our website at www.cortex.net. 
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
news release. 
Forward-Looking Statements 
Statements in this release that are forward-looking statements are
subject to various risks and uncertainties concerning the specific
factors disclosed under the heading "Risk Factors" and elsewhere in
the Company's periodic filings with Canadian securities regulators.
Such information contained herein represents management's best
judgment as of the date hereof based on information currently
available. The Company does not assume the obligation to update any
forward-looking statement.
Contacts:
Brisco Capital Partners
Scott Koyich
(403) 262-9888
skoyich@briscocapital.com 
Liolios Group Inc.
Scott Liolios or Cody Slach
(949) 574-3860
CBX@liolios.com
 
 
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