Critical Outcome Technologies Announces Engagement of Maxim Group LLC

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. ("COTI" or the "Company") (TSX VENTURE:COT),
the bioinformatics and accelerated drug discovery company, is pleased to
announce that it has entered into an Engagement Agreement (the "Agreement") with
New York City based Maxim Group LLC ("Maxim") whereby Maxim will: (i) render
certain services as a strategic advisor to the Company; and (ii) act as the
Company's exclusive placement agent for a proposed best efforts private
placement of securities of the Company. The terms of the proposed offering will
be determined within the context of the market and will be negotiated between
the Company and Maxim. The initial term of the Agreement is four months.


"This engagement and the funding to be realized upon its success will enable us
to move COTI-2 into clinical trials and provide the human data validation sought
by many interested licensing partners," said John Drake, Chairman of COTI. "The
timing for such funding should enable us to meet our objective of having COTI-2
enter the clinic this year."


Under the terms of the Agreement, the Company has agreed to a compensation
package with Maxim comprised of a strategic advisory fee, a monthly work fee, a
financing placement fee consisting of cash commission and common share placement
warrants, and the reimbursement of expenses, subject to compliance with TSX
Venture Exchange policies. The terms of compensation and the terms of any
proposed offering are subject to the final approval of the TSX Venture Exchange.


The Company intends to use the net proceeds received from the financing to
support further development of its lead oncology compound, COTI-2, including:
the completion of 28-day two-species toxicity studies, the preparation and
filing of its investigational new drug application with the U.S. Food and Drug
Administration, and the execution of a Phase 1 clinical trial. Proceeds will
also be used to support the completion of three current research and development
collaborations, new product development, and for working capital and general
corporate purposes. 


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.


About Maxim Group (www.maximgrp.com)

Maxim Group is a U.S. based leading investment banking, securities and
investment management firm that provides an array of financial services
including: investment banking, equity research, private wealth management,
structured products, and global institutional equity, fixed-income and
derivative sales & trading to a diverse range of corporate clients,
institutional investors and high net worth individuals. 


Maxim Group is registered as a broker-dealer with the U.S. Securities and
Exchange Commission and is a member of the following: Financial Industry
Regulatory Authority (FINRA); Municipal Securities Rulemaking Board (MSRB);
Securities Insurance Protection Corporation (SIPC); NASDAQ Stock Market; and
NYSE Arca, Inc.


About Critical Outcome Technologies Inc. 

COTI is a leading-edge technology 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(R), 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 "... to support further development of its lead oncology compound,
COTI-2, including: the completion of 28-day two-species toxicity studies, the
preparation and filing of its investigational new drug application with the U.S.
Food and Drug Administration, and the execution of a Phase 1 clinical trial" and
"Proceeds will also be used to support the completion of three current research
and development collaborations, new product development, and for working capital
and general corporate purposes" and "...the funding to be realized upon its
success will enable us to move COTI-2 into clinical trials and provide the human
data validation sought by many interested licensing partners" and "... should
enable us to meet our objective of having COTI-2 enter the clinic this year" 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 the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Critical Outcome Technologies Inc.
Dr. Wayne Danter
President & CEO
519-858-5157
wdanter@criticaloutcome.com
www.criticaloutcome.com


Heisler Communications
Trevor Heisler
Investor Relations
416-500-8061
trevor@heislercommunications.com
Cotinga Pharmaceuticals (TSXV:COT)
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