Omnitech Consultant Group inc.

Omnitech Consultant Group inc.

March 22, 2007 08:12 ET

GCO Obtains Final Approval of the Proposal to its Creditors and Appoints a New Director

QUEBEC CITY, QUEBEC--(CCNMatthews - March 22, 2007) - Groupe Conseil Omnitech Inc. ("GCO")(TSX VENTURE:GCO) is pleased to announce that the courts have approved the proposals to creditors filed by the corporation and its subsidiaries on January 31, which are offering the payment of 100% of the value of their claims in common shares of GCO at a price per share of $0.05. GCO's creditors and shareholders had approved the proposals respectively on February 23 and March 12, 2007.

"We are very pleased that the final step of the creditors proposal process has been completed", said Mr. Philippe Collard, GCO's Chairman of the Board and Chief Executive Officer. "Over the course of the next few weeks GCO's creditors will receive their share certificates and at the same time will become partners of the corporation. The fact that so many people have collaborated with GCO during the course of this process is a testimony of the value they grant to the corporation and I am convinced that together we will succeed in building a profitable and growing business".

Furthermore, GCO's Board of Directors appointed Mr. Francois Gilbert as director to fill one of the vacancies on the board. Mr. Gilbert is a company director and President of FIER-Succes. He is Chairman of the Board of Opto-securite and a director of Dynagram (printing software). Francois Gilbert is a member of the Institute of Corporate Directors and a graduate of the Corporate Governance College at McGill University. For ten years, Francois Gilbert was vice president and COO of Gestion Charles Sirois, a private investment holding.

"We welcome Francois Gilbert whose experience will surely be of great value to GCO", declared Mr. Philippe Collard. "We are pleased that Mr. Gilbert, a representative of an important shareholder and financial partner, would join us to participate to the development of the corporation"

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

  • Groupe Conseil Omnitech inc.
    Philippe Collard
    Chief Executive Officer