Omnitech Consultant Group inc.
TSX VENTURE : GCO

Omnitech Consultant Group inc.

July 04, 2005 13:29 ET

7th Acquisition for GCO: Omnitech Consultant Group Inc. Acquires Concerpro

QUEBEC CITY, QUEBEC--(CCNMatthews - July 4, 2005) - Omnitech Consultant Group Inc. ("GCO") (TSX VENTURE:GCO) announced that it has signed an offer to purchase to acquire all of the issued and outstanding shares of Concerpro strategie d'entreprise Inc. (Concerpro). Andre Turcotte, the sole shareholder of Concerpro, accepted the offer on April 29, 2005. The acquisition is subject to approval by the appropriate regulatory authorities.

With the acquisition of Concerpro, GCO initiates its sixth business unit, titled "HUMAN CAPITAL", with a mission to consolidate the results achieved in productivity and information technologies with the powerful contribution of an organization's optimized human capital.

Unaudited financial statements for Concerpro for the fiscal year ended July 31, 2004 show revenues of $1,006,344 and net loss of $59,843. According to the same financial statements, Concerpro had assets of $313,117 and liabilities of $176,299. Shareholders' equity was $136,818. Management believes that, once integrated into GCO, the synergy effect will see the company increase sales and reduce various expenses.

Under the terms of the offer to purchase, the offer price is $380,000 payable as follows: $40,000 in cash payable at the signing of the offer to purchase, $85,000 payable at the closing of the transaction, and 150,000 common shares of GCO at a price of $1.70 per share for a value of $255,000.

"In this era of globalization of the economy, an enterprise's competitive challenges multiply from the organizational perspective, and this acquisition will allow us to offer high-performance services and tools to our clients," says Claude Belley, President and Chief Executive Officer of GCO. "GCO will allow us to offer integrated solutions of the one-stop-shop type, in addition to enabling us to grow more rapidly," says Andre Turcotte, President of Concerpro.
About Concerpro

Concerpro is renowned for its analytical and strategic-orientation solutions, as well as for change management involving the workforce within medium-sized and large companies. In the past 15 years, Concerpro has distinguished itself through the completion of numerous strategic solutions that impact entire industrial sectors by involving the participation of both employers' representatives and the trade unions representing workers.

About Omnitech Consultant Group Inc. ("GCO")

GCO operates in the engineering, information technology and systems maintenance sectors. GCO is capable of intervening in all aspects of industrial engineering and information technology (IT), thus combining a major and distinctive niche in comparison with the competition. GCO integrates new technologies or optimizes existing systems by applying cutting-edge expertise currently used in the best practices.

The TSX Venture Exchange assumes no responsibility with regard to the relevance or accuracy of this press release.

Contact Information

  • Omnitech Consultant Group Inc.
    Claude Belley
    President
    (418) 626-9090
    or
    Omnitech Consultant Group Inc.
    Philippe R. Bertrand
    Vice President, Communications
    (418) 626-9090
    philippe_bertrand@gco.ca