Coretec Announces Normal Course Issuer Bid

TORONTO, ONTARIO--(MARKET WIRE)--Jan 13, 2009 -- Coretec Inc. ("Coretec") (Toronto:CYY.TO - News) announced today that it has filed with the Toronto Stock Exchange (the "TSX") a notice of intention to make a normal course issuer bid for its common shares ("Common Shares") through the facilities of the TSX. Coretec does not intend to purchase more than 901,090 Common Shares (or 5.0% of the issued and outstanding Common Shares) over a 12 month period. The period of the normal course issuer bid will commence on January 15, 2009 and will terminate on the earlier of: (i) January 14, 2010 and (ii) the date on which a total of 901,090 Common Shares (or 5.0% of the issued and outstanding Common Shares) have been purchased by Coretec. Purchases under the bid will be made through the facilities of the TSX at the prevailing market price. All Common Shares purchased under this bid will be cancelled. As at December 31, 2008, Coretec had 18,021,807 Common Shares outstanding, approximately 5,547,208 of which were in the public float. Daily purchases will be limited to 1,519 common shares, other than block purchase exceptions.

Coretec believes that, from time to time, the market price of its common shares may not fully reflect the value of its business and future business prospects and accordingly, may represent an attractive investment and a desirable use of its available funds.

Coretec has purchased 621,079 shares in the preceding 12 month period under its previous normal course issuer bid, which expired on January 6, 2009. The average price paid per share was $0.1605.

Coretec is one of the leading designers and fabricators of printed circuit boards for the prototype and quick turnaround production segments of the North American market. Coretec distinguishes itself from its competitors by providing complete printed circuit board solutions, including highly engineered design, advanced prototyping and quick turnaround production.

     Contacts:
     Coretec Inc.
     Andre Kern
     CFO
     (416) 208-2100
     Email: akern@coretec-inc.com