Company News
Organic Resource Executive Appointments
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Organic Resource Management Inc.
3700 Steeles Avenue West, Suite 601
Woodbridge, Ontario L4L 8K8
TEL: (905) 264-7700 FAX: (905) 264-7273
E-mail: info@ormi.com
Website: www.ormi.com
August 21, 2007 TSX Symbol: ORI
NEWS RELEASE
Organic Resource Executive Appointments
Woodbridge, Ontario - August 21, 2007. Organic Resource Management Inc. ("ORMI") today announced that the Company's Board of Directors has approved a number of management changes including the appointment of Charles Buehler as Chairman & CEO and Ian Kelland as President.
Charles Buehler founded Organic Resource Management Inc. in 1985 and has served as CEO since its inception. He pioneered the organic and non-hazardous liquid waste industry in Canada. Mr. Buehler has extensive knowledge of organic waste treatment technologies including anaerobic digestion. He was directly responsible for the development of two patented organic recycling technologies as well as ORMI's sophisticated GIS logistics management software system. Mr. Buehler is ORMI's largest shareholder. He has assumed the role of Chairman from Robert Bandeen who, as previously announced on July 3, 2007 resigned after nine years of exceptional service. In his new role Charles Buehler will be providing vision and direction, guiding the investor relations efforts and working on financing initiatives.
In keeping with good corporate governance practices for a company that has an executive chairman, the Board has appointed Matthew Gaasenbeek as Lead Director. In this role Mr. Gaasenbeek will be responsible for chairing regular meetings of the independent directors. Mr. Gaasenbeek has been a director since 2004 and is also the Chair of the Audit Committee.
Ian Kelland joined the Company in 2003 as Vice President of Operations & CFO. He guided the Company through a difficult financial period and successfully implemented the Company's handheld technology. Mr. Kelland is a Chartered Accountant with extensive operational background in transportation and a seasoned financial executive. In his new role as President he will be responsible for all operational and financial matters, and as such will also continue to be the chief financial officer of the Company.
The Company is also announcing today the appointment of Edward Dreher to the position of Vice President Finance. Edward has been with the Company since 2006 in the position of Controller. He has held senior financial positions in a number of Companies including a major Ontario composting operation. Mr. Dreher is a CGA.
These appointments are part of a multi-step restructuring program the Company has undertaken with objectives that include simplifying the Company's balance sheet and organizational structure, strengthening its management and eliminating related party issues. The Company believes this restructuring will allow it to intensify its operational focus and make it more attractive to the investment community. The restructuring program began this past June with the conversion of all the outstanding preferred shares into common shares and was followed by the amalgamation of the Company with its largest subsidiary, and concurrent name change to Organic Resource Management Inc. The Company expects to announce further restructuring steps in the coming weeks.
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 info@ormi.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 .
CONTACT INFORMATION
Corporate Inquiries
Charles H. Buehler,
Chairman & Chief Executive Officer
info@ormi.com
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