May 22, 2007 at 16:48 PM EDT
GCO/Update on Financing

Following the press release dated April 2, 2007, Mr. Omnitech Consultant Group Inc. ("GCO") (TSX VENTURE: GCO) announces that it has the filed, on May 17, a price reservation form with the TSX Venture Exchange Inc. as part of the conditional offer for a private placement with Echo Capital FIER Outaouais LLP ("Echo Capital") for investments between $1 and $2 million (one million being invested by Echo Capital), through the issuing of a convertible debenture, in order to obtain an additional 45 days delay to finalize the transaction.

The debenture carries a 9% coupon payable semi-annually and matures in five (5) years. The interests are payable in cash or common shares at GCO's discretion. The debenture can be converted at any time at the holder's option, at a conversion price equal to the greater of: (i) $0.10; and (ii) $0,05$ multiplied by the consolidation ratio to be used by GCO in a consolidation of its share capital that could take place as soon as the situation of the corporation will allow. The Board of directors of GCO has not yet approved such a consolidation and the consolidation ratio has not yet been established. As required by the policies of the TSX Venture Exchange inc., the conversion price will increase by 10% per year each year following the second anniversary of the debenture.

The proceeds of the financing will be used as working capital. The financing offer is conditional to a due diligence and the approval of the competent regulatory authorities. As required by the financing offer, GCO commits to open, during the coming year, an office in the city of Gatineau.

About Omnitech Consultant Group Inc. ("GCO")

GCO is a Canadian leader in performance engineering. GCO offers solutions as a one-stop-shop in engineering, information technology and systems maintenance. GCO is capable of intervening in all aspects of industrial engineering and information technology, thus combining a major and distinctive niche compared with the competition. GCO integrates new technologies or optimizes existing systems by applying cutting-edge expertise currently used in the best practices.

About Echo Capital FIERS Outaouais LLP ("Echo Capital")

Echo Capital is a venture capital fund investing in the start-up and growth of promising companies, principally in the Outaouais region. Echo Capital is accredited by Investment Quebec as being a FIER-Region Regional Economic Intervention Fund development investment fund.



TSX Venture Exchange Inc. assumes no responsibility regarding the relevance or accuracy of this press release.


Contacts:
Groupe Conseil Omnitech inc.
Philippe Collard
Chief Executive Officer

Groupe Conseil Omnitech inc.
Philippe R. Bertrand
Vice-president, Corporate Affairs
418-626-9090
www.gco.ca

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