TORONTO, ONTARIO — (Marketwire) — 03/21/12 — Organic Resource Management Inc. (TSX VENTURE: ORI) („ORMI“ or „the Company“), is pleased to announce that the traffic accident claim for $31 million has been settled within the limits of the Company-s insurance coverage subject to court approval.
As previously reported, the Company received a statement of claim on February 3, 2009 in the amount of $31 million pertaining to a traffic accident which occurred in September 2008. The claim by the injured party exceeded the combined limit of the Company-s insurance coverage which at the time of the accident was $10 million. The Company currently has insurance coverage with a combined limit of $25 million.
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 . Alternatively, investors are asked to e-mail all questions and correspondence to where they can also request addition to the Company-s investor e-mail list to receive all future press releases and updates directly.
About Organic Resource Management Inc.
Organic Resource Management is Canada-s largest provider of vacuum truck services for the collection, processing and recycling of food-related organic residuals into feedstock for biogas renewable energy production. ORMI and its biogas partners are on target to generate enough green energy to supply 2,000 households in 2012. ORMI services in excess of 10,000 grease interceptors for commercial, industrial and institutional customers across Canada on a regularly-scheduled basis. These services are a critical component of current program initiatives in North American landfill waste diversion and wastewater treatment. Further information about ORMI may be obtained at the Company-s web site at .
Forward Looking Statements
Certain information contained in this press release may be forward-looking and therefore subject to unknown risks or uncertainties.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Organic Resource Management Inc. Charles Buehler Chairman and CEO 416-580-8574
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