OMT ANNOUNCES STRATEGIC REVIEW

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[{"type":"text","content":"\n\n\n\n Feb. 3, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nWINNIPEG, Feb. 3 /CNW/ - OMT Inc. ("OMT") (TSX Venture: OMT) announces\n that it has undertaken a review of its strategic alternatives and is\n currently in discussions with an interested party regarding the\n potential acquisition of OMT Technologies, Inc., a wholly-owned\n subsidiary of OMT comprising substantially all of the assets of the\n company. At this time, there is no legal obligation on OMT or the\n interested party to complete a transaction. Any transaction will be\n subject to the parties entering into a definitive agreement and the\n satisfaction of a number of conditions, including due diligence and\n receipt of applicable approvals.\n\n\nOMT has considered a number of strategic alternatives during its\n strategic review process and at this time has concluded that there is\n no strategic alternative currently available to it that would result in\n net proceeds in excess of its debt obligations.\n\n\nOMT also announced today the resignation of Harold Heide as a director\n of OMT. Mr. Heide has acted as the representative for GrowthWorks\n Canadian Fund Ltd. on OMT's Board of Directors.\n\n\nAbout OMT\nOMT Inc. (OMT) is a technology solutions provider to the broadcast and\n media industries across North America and Internationally. iMediaTouch\n is OMT's flagship product suite of audio content management and digital\n delivery software for commercial and non-commercial broadcast radio\n appl...

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