TROIS-RIVIÈRES, QC, July 15 /CNW Telbec/ - Mr. Jean-Guy Lanouette, president of GDG Environnement, was quite proud to announce, this morning to the press, that his company is now listed on the TSX venture exchange ("TSX"). GDG's share can be traded, under the ticker "GDG", after a reverse takeover was finalized on April 24, 2008 with Theseus Capital Inc., a start-up capital company.
"Being a public company, GDG Environnement will now have access to more capital allowing the company to fast track its expansion on the canadian and international markets." said Mr. Lanouette. This press meeting took place right after the shareholders special meeting, where the corporate name Theseus Capital Inc. was changed for GDG Environment Group Ltd.
Leader in the biological control of biting flies, GDG Environnement has, for more than 25 years, conducted many biological control programs in Quebec: Gatineau, Terrebonne, Mont-Tremblant and cities of the Thérèse-De Blainville Regional County Municipality to name a few. The company also act as a consultant for public health agencies and offer its expertise in vector control. In fact, GDG has managed the most important West Nile virus program (WNV) ever done in Canada.
Growth in the canadian market
New development in the outskirts of urban areas brings the population closer to mosquito and black fly breeding sites. Thus, GDG's specialists can estimate that the reduction of nuisance caused by these insects is a market worth about 100 millions dollars annually. In Canada, there are few players. These operations demands expertise, which GDG have acquired over the years. Also, since West Nile virus became a concern in North America, GDG played a major role for public health agencies. Quebec governments, from 2000 to 2006, and the Ontario government, since 2002, have implemented mosquito surveillance programs and GDG is one of their main partner.
Fully active in Quebec, New-Brunswick and in Ontario, GDG wishes to expand in canadian market by acquiring local companies and implementing regional offices which would strengthen its current position. The company already has an operation base in Ottawa, from where nuisance control programs (Georgina) and West Nile virus programs in Windsor, Peel, Ottawa and Waterloo are managed.
GDG Environnement wants to create new markets at the international level. The construction of hotel complexes has grown exponentially for the last 20 years and the economy in several areas rests on tourism. The nuisance caused by mosquitoes has become a major brake for the profitability of several construction projects. Also, chemicals are less and less tolerated by tourists and populations alike. Moreover, many infectious diseases are transmitted by mosquitoes.
GDG Environnement contemplates the Carribean, Central America and South America (north part). "GDG's operations are seasonal in Canada. By developing at the international level, our activities will be secured all year long" adds Mr. Lanouette.
The press meeting was also the occasion to announce the resignation of Messrs. Richard Bélanger, Réjean Bergevin and Martin Lord from the company's board of directors. Me Jean Dionne and Mr. William Saulnier were appointed administrators. Me Dionne is a lawyer (Commercial law) and an associate of the firm BCF, LLP since March 2008. He is also the administrator of World Outfitters Corporation Safari Nordik, since October 2006. Mr. Saulnier was the financial director of GLV Inc. until december 2006. He has since retired.
About GDG Environnement (www.gdg.ca)
The company was founded in 1980. GDG pioneered the study and biological control of biting flies in Canada and, to this day, has accomplished more than four hundreds biological control operations, primarily in Québec, New-Brunswick, Labrador and in Ontario. GDG is equally involved in the surveillance and prevention of West Nile virus in Canada. During peak season (in the summer), GDG Environnement hires more than 200 people.
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This press release contains forward-looking statements. Those statements involve known and unknown risks and uncertainties, which could cause the Company's actual results, performance and achievements to differ materially from those in the forward-looking statements.
SOURCE GDG ENVIRONMENT GROUP LTD.
For further information: For further information: Christian Back, Vice president - Science and Technology, GDG Environnement, (819) 373-3097, www.gdg.ca; Source: Danielle Cantin, Communications Danielle Cantin, (819) 373-7135, Cell.: (819) 691-5176