Omnitech Consultant Group inc.

Omnitech Consultant Group inc.

July 06, 2005 08:30 ET

8th Acquisition for GCO: Omnitech Consultant Group Inc. Acquires PGE

QUEBEC CITY, QUEBEC--(CCNMatthews - July 6, 2005) - Omnitech Consultant Group Inc. ("GCO") (TSX VENTURE:GCO) announced that the company has signed an offer to purchase for the acquisition of all of the issued and outstanding shares of Les Systemes de Gestion PGE Inc. (PGE). Luc Bellerose, the sole shareholder of PGE, accepted the purchase offer on June 17, 2005. The purchase offer is subject to the approval of the appropriate regulatory authorities.

With the acquisition of PGE, GCO strengthens its sixth business unit, titled "HUMAN CAPITAL", by adding software and hardware tools that simplify and improve the management of human resources, including those on variable schedules, thus increasing both performance and yield.

Unaudited financial statements for PGE for the fiscal year ended June 30, 2004 show revenues of $401,767 and net profit of $95,034. According to the same financial statements, PGE had assets of $178,693 and liabilities of $103,001. Shareholders' equity was $75,692.

Under the terms of the purchase offer, the offer price is $325,000 payable through the issuance of 191,176 common shares of GCO at a price of $1.70 per share.

"The addition of high-performance software and hardware will enable our HUMAN CAPITAL business unit to grow more rapidly among major corporate, institutional and government clients," says Claude Belley, President and Chief Executive Officer of GCO. "GCO will enable us to complete our product line, and also provide us with access to a seasoned R&D team," says Luc Bellerose, President of PGE.

About Systemes de Gestion PGE Inc. (PGE)

PGE is the North American leader in the provision of human-resources management solutions. PGE offers time management and resource-planning management solutions. With its broad range of hardware, software and professional services, its clients now have available powerful tools to simplify and improve their human resource management. PGE is a proud business partner of Groupe MBB Gelma, an international alliance with a substantial presence in more than 26 countries.

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), this combination providing a major and distinctive niche. GCO integrates new technologies or optimizes existing systems by applying cutting-edge expertise currently used in the best management 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
    (418) 626-9090
    Omnitech Consultant Group Inc.
    Philippe R. Bertrand
    Vice President, Communications
    (418) 626-9090