COT Cotinga Pharmaceuticals Inc

LONDON, ONTARIO--(Marketwired - Jun 4, 2014) - Critical Outcome Technologies Inc. (TSX-VENTURE:COT) ("COTI" or the "Corporation") the bioinformatics and accelerated drug discovery company, is pleased to announce the completion of the final tranche of its previously announced non-brokered private placement with the issuance of 5,595,135 units (the "Units") at a price of $0.16 per Unit for gross proceeds of approximately $895,000. In aggregate, the Corporation raised gross proceeds from the offering of approximately $1,432,000 through the sale of 8,951,385 Units.

"This financing supports our ongoing operations in advancing our lead cancer drug candidate, COTI-2, into a Phase 1 clinical trial by the end of this year," said John Drake, Chairman of the Board. "Our near term milestones are progressing nicely. We recently completed the dosing and post-dosing observation segments of the final pre-clinical two-species toxicity studies and are excited to have the resources and investor support to complete the necessary work for filing the Investigational New Drug application for COTI-2 late this summer. These are important risk reduction and value creating events that will enhance the attractiveness of COTI-2 for licensing."

"We are proud of the progress we have made and look forward to getting into the clinic," said Dr. Wayne Danter, President and Chief Executive Officer. "We will then be able to expand upon the preclinical work demonstrating that COTI-2 is potentially transformational in the treatment of ovarian cancer and other cancers where there is a p53 gene mutation present in afflicted patients."

Each Unit consists of one common share and one warrant of the Corporation. Each warrant is exercisable for one common share of the Corporation at an exercise price of $0.28 per share for a period of 24 months from the date of issue. The Corporation paid finders' fees to arm's length third parties in connection with this tranche in the amount of $35,058 in cash and issued 219,110 compensation warrants. In aggregate, the Corporation paid finders' fees of $73,777 in cash and issued 461,110 compensation warrants in connection with the offering. Each compensation warrant is exercisable into one common share of the Corporation at an exercise price of $0.22 per share for a period of 24 months from the date of issue.

The common shares and warrants issued by the Corporation under the offering are subject to restrictions on resale in accordance with applicable securities laws and the policies of the TSX Venture Exchange. These restrictions will expire on September 1, 2014 for the securities issued on the first closing and October 4, 2014 for this final closing. The offering is subject to final acceptance by the TSX Venture Exchange.

About Critical Outcome Technologies Inc. (COTI)

COTI is a leading-edge bioinformatics company specializing in accelerating the discovery and development of small molecules - dramatically reducing the time and cost to bring new drugs to market. COTI's proprietary artificial intelligence system, CHEMSAS®, utilizes a series of predictive computer models to identify compounds with a high probability of being successfully developed from disease specific drug discovery through chemical optimization and preclinical testing. These compounds are targeted for a variety of diseases, particularly those for which current treatments are either lacking or ineffective.

For more information, visit www.criticaloutcome.com.

Follow @CriticalOutcome on Twitter at http://twitter.com/CriticalOutcome

Notice to Readers

Information contained in this press release may contain certain statements, which constitute "forward-looking statements" within the meaning of the Securities Act (Ontario) and applicable securities laws. For example, the statement, "… in advancing our lead cancer drug candidate, COTI-2, into a Phase 1 clinical trial by the end of this year" and "… to complete the necessary work for filing the Investigational New Drug application for COTI-2 late this summer. These are important risk reduction and value creating events that will enhance the attractiveness of COTI-2 for licensing" are forward-looking statements. Forward‐looking statements by their nature are not guarantees of future performance and are based upon management's current expectations, estimates, projections and assumptions. COTI operates in a highly competitive environment that involves significant risks and uncertainties, which could cause actual results to differ materially from those anticipated in these forward‐looking statements. Management of COTI considers the assumptions on which these forward-looking statements are based to be reasonable, but as a result of the many risk factors, cautions the reader that actual results could differ materially from those expressed or implied in these forward-looking statements. Information in this press release should be considered accurate only as of the date of the release and may be superseded by more recent information disclosed in later press releases, filings with the securities regulatory authorities or otherwise.

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

Critical Outcome Technologies Inc.Dr. Wayne DanterPresident & CEO519-858-5157wdanter@criticaloutcome.comwww.criticaloutcome.comHeisler CommunicationsTrevor HeislerInvestor Relations416-500-8061trevor@heislercommunications.com

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