CALGARY, ALBERTA — (Marketwired) — 06/09/16 — Cortex Business Solutions Inc. (TSX VENTURE: CBX), an online business-to-business network as a service, that helps companies reduce invoice processing times by connecting and interacting with each other, today announces the results for the three and nine months ended April 30, 2016.
Sandra Weiler, CFO of Cortex Business Solutions commented “Cutting costs is difficult for any company, but it is considerably more difficult to exhibit the discipline needed to maintain cost reductions without negatively impacting the company–s overall performance. Cortex has shown over the past 12 months a willingness to reduce costs and improve adjusted EBITDA, while improving other areas of the business, which has moved us closer to profitability than ever before.”
“The Company continues the financial discipline required to drive costs to appropriate levels while remaining focused on investing in strategic priorities to enable long-term growth” commented Joel Leetzow, President and CEO of Cortex Business Solutions, “our strategy remains expanding further into other verticals to minimize the fluctuations in commodities pricing. As well, we are recommitting to our growth strategies in the United States by hiring a Texas based VP of Sales giving us boots on the ground in our targeted geographical area”.
Three months ending April 30, 2016;
Nine months ended April 30, 2016;
Conference Call
Cortex management will host a conference call, followed by a question and answer period.
The details of the conference call are as follows:
Please call the conference telephone number ten minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Cortex Business Solutions at
403-219-2838.
A replay of the conference call will be available after the call through June 17, 2016.
About Cortex Business Solutions
Cortex Business Solutions Inc. (TSX VENTURE: CBX) is a business-to-business network that enables electronic invoicing for buying and suppling 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.
For more information, please visit .
Contacts:
Investor Relations Contacts:
Joel Leetzow
President and CEO
403-219-2838
Sandra Weiler
CFO
403-219-2838
Andrew Stewart
Director, Marketing & Investor Relations
403-219-2838
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