OMT investors agree to defer payments on C$3 million in convertibles

By Devika Patel

Knoxville, Tenn., April 28 - OMT Inc. said that the primary holders of its convertible debt have agreed to defer interest payments on the debt.

GrowthWorks Canadian Fund Ltd., Ensis Investment LP and Renaissance Capital Manitoba Ventures, who together hold C$3 million of the convertible debt, have signed a waiver to defer approximately C$20,000 per month in interest payments until OMT's cash reserves accumulate to C$500,000.

Interest will continue to be paid monthly on the remaining debt of C$995,000 held by CIBC Mellon Trust Co.

The deferred interest will continue to accrue until it is paid.

Based in Winnipeg, Manitoba, OMT is a technology solutions and content provider to the broadcast, entertainment and retail industries

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