Critical Outcome Technologies Closes Financing

LONDON, ON--(Marketwired - June 30, 2015) -

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.

Critical Outcome Technologies Inc. (TSX VENTURE: COT) (OTCQB: COTQF) ("COTI" or the "Corporation") is pleased to announce the closing of the first tranche of a non-brokered private placement of 1,500,000 units (the "Units") at a price of CAD $0.30 per Unit for gross proceeds of CAD $450,000.

"Having received acceptance of our investigational new drug application in May, we are targeting the commencement of the COTI-2 Phase 1 human trial for late summer," said Dr. Wayne Danter, President & CEO. "This funding will help support the COTI-2 trial as we move forward with our first treatment in humans that will demonstrate the potential of COTI-2 to positively impact patients with cancers that have p53 gene mutations."

Each Unit consists of one Common Share and one half Warrant of the Corporation. Each whole Warrant is exercisable for one Common Share of the Corporation at an exercise price of CAD $0.42 per share for a period of 24 months from the date of closing. In addition to cash costs, the Corporation also issued 90,000 Compensation Warrants exercisable to acquire one Common Share upon payment of CAD $0.315 for a period of 24 months from the date of closing. Both the Warrants and Compensation Warrants are subject to acceleration of the Expiration Date by the Corporation in certain circumstances.

The Common Shares and Warrants comprising the Units, as well as the Common Shares issuable upon the exercise of the Warrants, are subject to restrictions on resale which expire on October 30, 2015 in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The offering is subject to final acceptance by the TSX Venture Exchange.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities or a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.