TSX Symbol: ORI
WOODBRIDGE, ON, Sept. 20 /CNW/ - Organic Resource Management Inc. ("ORMI"
or the "Company") has completed the three related party transactions as
previously announced, and thereby has eliminated the related party
relationships with respect to the software and patented technologies that the
On August 29, 2007 the Company announced that it had reached agreement to
eliminate related party relationships as part of a multi-step restructuring
program that includes simplifying and strengthening the Company's balance
sheet, organizational structure and its management.
The three related party transactions resulted in the Company purchasing:
(i) 100% of the shares of ORMI Information Systems Inc. (formerly Path
Information Systems Inc.), a related software company; (ii) the Canadian
patents for Direct Land Application Process and Organic Resource Recovery
System from a related company; and (iii) the 30% equity interest in NCS
Environmental Services Ltd. that it does not already own, from a related
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 http://www.ormi.com/ORMI_Investor.asp. Alternatively, investors are
asked to e-mail all questions and correspondence to email@example.com where they
can also request addition to the Organic Resource investor e-mail list to
receive all future press releases and updates directly.
About Organic Resource Management Inc.
Organic Resource is Canada's largest provider of vacuum truck services
for the collection, treatment and disposal of organic and other non-hazardous
liquid waste. ORMI services in excess of 8,000 commercial, industrial,
institutional and residential customers in Ontario, Quebec, and British
Columbia. Further information about ORMI may be obtained at the Company's web
site at www.ormi.com.
For further information:
For further information: Corporate Inquiries, Charles H. Buehler,
Chairman & Chief Executive Officer, firstname.lastname@example.org