Omnitech Consultant Group inc.

Omnitech Consultant Group inc.

October 28, 2005 16:30 ET

GCO Provides Bi-Weekly Update in Accordance with CSA Staff Notice 57-301

QUEBEC CITY, QUEBEC--(CCNMatthews - Oct. 28, 2005) - Omnitech Consultant Group Inc. ("GCO") (TSX VENTURE:GCO) provides its bi-weekly update in accordance with CSA Staff Notice 57-301 and will continue to do so until its audited annual financial statements for the year ended May 31st, 2005 and related reports are filed.

GCO's management and directors are currently subject to a management cease trade order, which was granted on September 30th, 2005 by the securities regulators in Quebec, Ontario, Alberta and British Columbia. This request was made when it became apparent that GCO would be delayed in filing its audited annual financial statements and management report.

The Audit Committee and the Board of Directors of GCO will meet with Deloitte, GCO's external auditors on Tuesday, November 1st, 2005, to review the draft audited financial statements for the year ended May 31st, 2005 in order to approve them.

In accordance with CSA Staff notification 57-301, GCO confirms that except as described herein: (i) there is no material change to the information set out in its initial notice of default; (ii) GCO was unable to file its audited annual financial statements on October 12th as planned but anticipates to file them shortly; (iii) GCO will not be able to proceed with the filing of its quarterly financial statements for the quarter ended August 1st, 2005, which is due on October 30th, 2005. The financial statements for the first quarter should be file shortly after the annual financial statements; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.

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.

TSX Venture Exchange Inc. assumes no responsibility regarding
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 and Public Affairs
    (418) 626-9090