November 19, 2003
ENSIS Invests An Additional $500,000 In OMT
WINNIPEG, MANITOBA--OMT Inc. (TSXV:OMT), Scott
Farr, President and CEO of OMT Inc., announced
today that the ENSIS Growth Fund has provided
$500,000 in additional financing to support the
acquisition of the strategic assets of
musicmusicmusic Inc. through a wholly-owned
subsidiary of the Company, which was also
announced today, and for the Company's general
working capital purposes.
The funds will be used to satisfy the
purchase price of the musicmusicmusic
acquisition and provide additional working
capital for OMT to further develop these assets
and launch enhanced multi-media entertainment
services and strategies.
"We fully support the acquisition of the
musicmusicmusic assets, as we believe it will
position OMT as a major technology and content
provider in the converging multi-media
industry," stated Mark Ahrens-Townsend,
Executive-in-Residence at ENSIS Management Inc.
and OMT Board member. "We believe in
management's long term high-value, growth
strategy, which began with the divestiture of
the low margin Oakwood Broadcast equipment
distribution business earlier this year. This
acquisition builds on that strategy with a
recurring revenue business model in related
industries."
Scott Farr, President and CEO of OMT Inc.
added, "ENSIS has been a strong supporter
of OMT since their initial investment in 2001.
We continue to benefit from their guidance and
welcome their support."
About OMT
OMT Inc. (TSXV:OMT) is a technology and
multi-media content solution provider to the
entertainment and broadcast industry. OMT's
broadcasting and multi-media technology is heard
by millions of people worldwide every day
through television, radio, satellite, cable and
Internet broadcasts. To learn more about the
Company, its products and services, visit its
website at www.omttechnologies.com
and more information on the acquired assets can
be found at www.musicmusicmusic.com.
About ENSIS Growth Fund Inc.
ENSIS is a $82 million labour-sponsored
venture capital fund that was first launched in
1998. As Manitoba's fastest growing labour
sponsored venture capital fund, ENSIS invests in
small and medium-sized Manitoba businesses. For
more information, visit its website at
www.ensis.ca.
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FOR FURTHER INFORMATION PLEASE CONTACT :OMT
Inc.
Scott Farr
President and CEO
Phone: (204) 975-0790 or cell (204) 781-2015
sfarr@omt.net
or
Marieke Wijtkamp
(204) 975-0792
mwijtkamp@omt.net
The TSX Venture Exchange
has neither approved nor disapproved the
contents of
this press release.
INDUSTRY : MUL
SUBJECT : NWS
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