Organic Resource Management Inc.

Organic Resource Management Inc.

March 03, 2011 16:29 ET

ORMI Increases Lease Credit Facility

TORONTO, ONTARIO--(Marketwire - March 3, 2011) - Organic Resource Management Inc. (TSX VENTURE:ORI) ("ORMI" or "the Company"), today announced that the Royal Bank of Canada ("RBC") has increased ORMI's lease credit facility from $1,500,000 to $2,500,000. The Company currently only has one lease drawn on this facility with an outstanding principal balance of $307,000.

The Company plans to use this lease credit facility to fund equipment for Organic Residuals Recovery System (ORRS) food-waste recycling transfer stations in Ontario. 

"We are proceeding with our plans to commission the new Woodstock facility as a combined grease trap depot and ORRS transfer station and expect to bring it online in the summer of 2011," reported Charles Buehler, CEO of ORMI. "The Company is also investigating options to establish additional ORRS transfer stations in the Toronto area where there is a very large underserved industrial, commercial and institutional food-waste recycling market," said Mr. Buehler.

In addition to the lease facility, the Company has renewed its $1,500,000 revolving demand facility with RBC. It remains at an annual interest rate of RBC prime plus 1.5%, based on 75% of eligible accounts receivable. As at March 2, 2010, the Company's balance drawn on this facility was $20,000.

This press release is available on the Company's official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit the investor relations section of the Company's website at Alternatively, investors are asked to e-mail all questions and correspondence to where they can also request addition to the Company's investor e-mail list to receive all future press releases and updates directly.

About Organic Resource Management Inc.

Organic Resource Management is Canada's largest provider of vacuum truck services for the collection, processing and recycling of food-related organic residuals into feedstock for biogas renewable energy production. ORMI and its biogas partners are on target to generate enough green energy to supply 2,000 Ontario households by 2012. ORMI services in excess of 8,000 commercial, industrial and institutional customer locations across Canada. These services are a critical component of current program initiatives in North American landfill waste diversion and wastewater treatment. Further information about ORMI may be obtained at the Company's web site at

Forward Looking Statements

Certain information contained in this press release may be forward-looking and therefore subject to unknown risks or uncertainties. The actual results, performance or achievements of Organic Resource Management Inc. may differ materially from the results, performance or achievements of the Company expressed or implied by such forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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