Omnitech Consultant Group inc.

Omnitech Consultant Group inc.

March 12, 2007 17:01 ET

GCO's Creditors Vote in Favour of the Proposal to its Creditors

QUEBEC CITY, QUEBEC--(CCNMatthews - March 12, 2007) - Groupe Conseil Omnitech Inc. ("GCO") (TSX VENTURE:GCO) is pleased to announce that earlier today, its shareholders, assembled in a special general meeting, 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. The proposals will be approved by the courts on March 19 in order to finalize the of proposal to creditors. The shareholders also approved the creation of a new control person and amendments to the stock option plan as indicated in GCO's proxy circular dated February 12, 2007.

"The Board of directors and myself are very happy that the shareholders have voted in favour of the proposals approved on February 23 by GCO's creditors, said Mr. Philippe Collard, GCO's Chairman of the Board and Chief Executive Officer. This shareholders vote confirms their support. This milestone allows us to continue our reorganization plan. I would like to thank the creditors, the shareholders and especially the employees for the trust they have demonstrated over the past few months".

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