Omnitech Consultant Group inc.

Omnitech Consultant Group inc.

November 08, 2006 17:11 ET

GCO Grants of Stock Options

QUEBEC CITY, QUEBEC--(CCNMatthews - Nov. 8, 2006) - Omnitech Consultant Group Inc. ("GCO") (TSX VENTURE:GCO) announces the grant of stock options to two of its senior executives and to its independent board members.

Mr. Philippe Collard, Chairman of the Board and Chief Executive Officer of GCO, is granted 600,000 stock options exercisable at a price of $0.10 per option. Mr. Collard had obtained in July, 240,000 options being vested over a six month period of which 120,000 will be cancelled. Mr. Alain Fortin, Chief Financial Officer, is granted 120,000 stock options exercisable at a price of $0.10 per option. Mr. Fortin had also obtained in July, 120,000 options being vested over a period of 6 months, of which 60,000 will be cancelled.

These stock options are granted as part of the compensation package determined by the Compensation Committee of the Board for Mr. Collard and Mr. Fortin following their appointment, on September 25th, respectively as Chief Executive Officer and Chief Financial Officer.

Each of Mr. Mario Bertrand, Mr. Jean Champagne, Mr. Martin d'Amours and Mr. Andre Duquenne, independent directors of GCO, will receive 150,000 stock options exercisable at a price of $0.10 per option as compensation for the work and support they have provided the company since their nomination to the Board of Directors in December 2005, and for the additional workload they will incur as part of the company's current financial restructuring.

About Omnitech Consultant Group Inc. ("GCO")

GCO is a Canadian leader in performance engineering. GCO offers solutions as a one-stop-shop in engineering, information technology and systems maintenance. GCO is capable of intervening in all aspects of industrial engineering and information technology, thus combining a major and distinctive niche compared with the competition. GCO integrates new technologies or optimizes existing systems by applying cutting-edge expertise currently used in the best practices.

TSX Venture Exchange Inc. assumes no responsibility regarding the relevance or accuracy of this press release.

Contact Information

  • Omnitech Consultant Group Inc.
    Philippe Collard
    Chief Executive Officer
    Omnitech Consultant Group Inc.
    Philippe R. Bertrand
    Vice President