September 27, 2005 15:24 ET

Portfolio Investment of SIPAR Inc. in Omnitech Consultant Group Inc.

MONTREAL, QUEBEC--(CCNMatthews - Sept. 27, 2005) - SIPAR Inc. ("SIPAR"), an institutional fund management firm specialized in the segment of emerging Quebec-based companies with micro and small capitalizations, announced today that it has subscribed to a convertible debenture for $1,350,000 of Omnitech Consultant Group Inc. ("OCG") through a private placement.

The convertible debenture is convertible at an initial price of $0.70 per unit. Each unit comprised one common share and one warrant. Each whole warrant allows its holder to subscribe to one common share at the conversion price of the convertible debenture within two (2) years following the conversion of the debenture and no later than September 21st 2008.

Following this private placement, SIPAR would have a fully diluted position of 10.75% of the outstanding common shares of OCG.

This investment decision is motivated by portfolio management considerations and for the aggregate portfolio under discretionary management. SIPAR could increase or decrease its position as per the investment objectives or size of the investment portfolio that it manages for its clients. SIPAR does not, however, intend to acquire more than 20%.

Contact Information

  • SIPAR Inc.
    Mr. Serge Leclerc
    President & CEO
    (514) 861-9252