Omnitech Consultant Group inc.

Omnitech Consultant Group inc.

February 23, 2007 16:43 ET

GCO's Creditors Accept its Proposal

QUEBEC CITY, QUEBEC--(CCNMatthews - Feb. 23, 2007) - Groupe Conseil Omnitech Inc. ("GCO") (TSX VENTURE:GCO) is pleased to announce that earlier today, its creditors and those of its wholly owned subsidiaries Groupe Cadec inc. and Groupe Isac Inc. have accepted the proposal that were filed last January 31 which were offering the payment of 100% of the value of their claims in common shares of GCO at a price per share of $0.05. The proposals are subject to the approval by the shareholders at a special meeting to be held on March 12 and by the courts.

"An important stage in GCO's reorganization has been accomplished, said Mr. Philippe Collard, GCO's Chief Executive Officer and Chairman of the Board. On behalf of the corporation's board of directors, employees and shareholders, I would like to thank GCO's creditors for the confidence that they have shown towards the Corporation's restructuring plan by voting in favour of the proposals. I am convinced that the shareholders will follow their lead at the March 12th meeting of and that we will finally be able to focus exclusively on GCO's future and profitability.

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