AML Akwaaba Mining Ltd

Critical Outcome Technologies Inc. (TSX VENTURE:COT) ("COTI" or the "Company")
reported its financial and operating results today for the fourth quarter and
the year ended April 30, 2013.


Highlights for the fiscal year include:



--  Entering into three collaboration research and development (R&D)
    agreements involving COTI's proprietary drug discovery technology,
    CHEMSAS(R); resulting in initial R&D collaboration agreement revenues of
    $25,000; 
--  Initiating the final toxicity studies for its lead cancer drug
    candidate, COTI-2, and completing two of the three study components; 
--  Receiving two patent grants from the USPTO for COTI-2 providing a total
    of four granted patents on the compound; and, 
--  Selecting three CHEMSAS(R) identified and patent protected drug
    candidates for the treatment of Acute Myelogenous Leukemia ("AML") to be
    tested in animal models of human AML.



"In fiscal 2013, we made significant progress with respect to our two major
commercialization efforts," said Dr. Wayne Danter, COTI's CEO. "First, we
entered into three R&D partnering deals using our artificial intelligence
platform, CHEMSAS(R). Each of these deals, if successful, represents significant
revenue potential in the coming years. Second, we moved forward with our
marketing efforts for a license agreement and the continued scientific
development for our lead cancer drug candidate, COTI-2. In addition, we achieved
and reported on important milestones for our AML program."


"Subsequent to year-end, in June we announced positive results from experiments
carried out with COTI-2 by a world-renowned cancer center," said Mr. John Drake,
COTI's Chairman. "These experiments confirmed COTI-2 as a p53 normalizing agent
with potential impact on mutations in over 50% of human cancers. This is an
important scientific development and provides additional support for our
licensing efforts. With the funding announced thus far in fiscal 2014, we are
focused on moving COTI-2 and our other initiatives forward to success."


Financial Results

Fourth Quarter

The Company reported a quarterly net loss of $443,580, or $0.01 per share,
compared to a net loss of $680,815, or $0.01 per share, for the fourth quarter a
year earlier. The improvement of $237,235 related primarily to a $131,583
reduction in R&D expenditures and a decrease of $97,563 in general and
administrative (G&A) expenditures.


The decrease in R&D expenditures primarily reflects a decrease in R&D testing
and a decline in synthesis costs both related to COTI-2, partially offset by an
increase in government assistance. The major factor in the G&A decrease was a
decline of $85,069 in professional accounting consulting costs for the 2012
transition to the IFRS accounting framework.


Fiscal Year

Operating revenue of $30,588 was reported for the year ended April 30, 2013 with
no revenue reported for the year ended April 30, 2012 (FYE 2012). A net loss of
$2,625,804, or $0.03 per share, was incurred for FYE 2013 compared to a net loss
of $2,591,151, or $0.04 per share, in FYE 2012. The increased loss of $34,653
resulted primarily from increases in R&D expense of $72,658 and sales and
marketing (S&M) expense of $37,556, offset by a decrease in G&A expense of
$61,620.


R&D expenses increased year over year primarily due to increases in R&D testing
related to COTI-2, higher scientific consulting fees and lower government
assistance, offset by lower synthesis costs related to COTI-2. The increase in
S&M expenses year over year related to an increase in consulting fees and
marketing and travel, offset by a decrease in salaries and benefits from
staffing reductions. The decrease in G&A expenses related to lower consulting
fees primarily associated with the 2012 IFRS accounting transition and lower
salaries and benefits due to a staffing reduction, offset by an increase in
amortization expense and share-based compensation.


Financing

During the year, the Company realized gross proceeds of $504,736 on a private
placement with accredited investors to provide funding for operations. At FYE
2013, the Company had $169,347 in cash, cash equivalents and short-term
investments to provide funding for operations in fiscal 2014 compared to
$1,718,671 at FYE 2012. Subsequent to year-end, the Company announced several
financings that raised $1,030,000 to support operations and as announced on
August 16, 2013, anticipates closing an additional financing tranche by the end
of August.


More detailed operating and financial results can be found in the Company's
Annual Audited Financial Statements and Management Discussion and Analysis for
the year ended April 30, 2013, which can be found on SEDAR at www.sedar.com.


About Critical Outcome Technologies Inc. (COTI)

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 "... if successful, represents significant revenue potential in the
coming years" and "... anticipates closing an additional financing tranche by
the end of August" 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.


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

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