Organic Resource Announces Annual General Meeting

    TSX Symbol: ORI

    WOODBRIDGE, ON, Aug. 30 /CNW/ - Organic Resource Management Inc. ("ORMI")
today announced that it will be holding its annual general meeting on
October 24, 2007, at 4:00 pm at Suite 4400, BCE Place, Bay Wellington Tower,
181 Bay Street, Toronto, Ontario. At the AGM, the Company intends to seek
shareholder approval for a one for twenty consolidation of its shares and a
reduction of its retained earnings deficit.
    Share Consolidation: Previously, on May 16, 2007, the Company announced
it would be seeking shareholder approval to consolidate the issued and
outstanding common shares of the Company on the basis of one new common share
for every ten issued and outstanding common shares. After further review and
subject to regulatory approval, the Board of Directors will now be
recommending to the shareholders a consolidation of authorized, issued and
outstanding common shares of the Company on the basis of one new common share
for every twenty issued and outstanding common shares.
    The purpose of the share consolidation is to present the investment
community with a more appropriate and compelling capital structure as the
Company prepares for its anaerobic digester/renewable energy initiatives. The
Board believes that a higher stock price would generate greater interest among
professional investors, institutions and potential financiers. If the Company
is successful in generating interest among such entities, ORMI anticipates
that shares of its common stock would have greater liquidity and thus be able
to attract a stronger investor base.
    Reduction of Retained Earnings Deficit: The Company will be seeking
shareholder approval to reduce the retained earnings deficit at June 30, 2007.
In order to absorb prior years' losses, it is proposing to reduce the stated
value of the Company's capital stock by an amount equal to the retained
earnings deficit of ORMI unconsolidated at June 30, 2007. These deficits are
primarily the result of a five year write-off of intangibles assets resulting
from the May 31, 2002 acquisitions of Organic Resource Management Inc. and
A&A Anderson Tank Services. The Company believes that this adjustment will
assist shareholders in better understanding ORMI's financial performance in
the future.
    Board of Directors: The Company will be proposing the following slate of
directors at the annual general meeting: Charles Buehler, Frank Facto, Martin
Fallick, Matthew Gaasenbeek, Gary Kain and Ian London. In accordance with good
governance practice, five of the six proposed slate of directors are
    All of the items announced here today are part of a multi-step
restructuring program the Company has undertaken that includes simplifying its
balance sheet and organizational structure, strengthening its management and
eliminating related party relationships. The restructuring program which began
on June 1, 2007 includes the conversion of all the outstanding preferred
shares into common shares, the amalgamation of the Company with its largest
subsidiary, and concurrent name change to Organic Resource Management Inc.,
appointments at the board and executive level and the proposed elimination of
related party relationships.
    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 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
    Note: 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.

For further information:

For further information: Corporate Inquiries: Charles H. Buehler,
Chairman & Chief Executive Officer,

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Organic Resource Management Inc.

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