Oriens Executes LOI With Hundley Associates to Proceed With Merger/Acquisition
29 January 2014 - 1:03AM
Marketwired
LAS VEGAS, NV-(Marketwired - Jan 28, 2014) - Oriens Travel &
Hotel Management Corp. (PINKSHEETS: OTHM), the Next Generation
International Hotel Brand Operator, operating its Hotel PURE brand,
announced on Friday, January, 24, 2014, that OTHM and Hundley
Associates Costa Rica SRL ("Hundley Associates"), has executed an
LOI to proceed with the completion of a merger/acquisition of
various Hundley Associates' assets including: a finished condo
hotel property, maintenance contract and land developments - all
told, representing millions of dollars in value.
"This is simple," stated Ken Chua, President of Oriens Travel
& Hotel Management. "With hard assets, an income stream
and extremely valuable future real estate developments, the future
growth and success of Oriens has fundamentally shifted. High
level experts and over 20 years of experience accompany this
transaction as Mr. Hundley and top executives will infuse highly
efficient and successful management processes into this
company. We expect that Oriens will not only come to build
upon the successes of Mr. Hundley, but will morph into a formidable
competitor in hotel development, management, and, online
booking."
Management indicated that project finance meetings have steered
investment opportunities toward $20 Million. Short term
capital opportunities have also been unveiled as last week's
roadshow resulted in multiple offers to secure initial financing to
support management's immediate efforts.
Mr. Chua continued, "Nothing has changed. We are still
keenly focused on completing our 'house cleaning' matters -
achieving current filer status being a top priority. However,
with the additional funding, we now have the ability to bring on
those professionals needed to ensure that Oriens is in top shape
when the time comes to welcome the completion of this
merger/acquisition, the audit, and, a substantial capital
raise."
"We believe, we are now well on our way."
About Oriens Travel & Hotel Management Corp.
(www.orienscorp.com) (PINKSHEETS: OTHM) engages in the operation of
hotels and resorts primarily in the United States and Central
America under the Hotel PURE brand. The company also operates
Friendly Reservations Online, a proprietary and sophisticated
online booking system designed to execute reservations capture
through Hotel PURE consumer facing websites, as well as individual
hotel websites operated by Oriens on behalf of hotels branded under
the Hotel PURE brand. Oriens is based in Las Vegas, Nevada.
Safe Harbor Statements in this news release that are
not historical facts, including statements about plans and
expectations regarding products and opportunities, demand and
acceptance of new or existing products, capital resources and
future financial results are forward-looking. Forward-looking
statements involve risks and uncertainties which may cause the
Company's actual results in future periods to differ materially
from those expressed. These uncertainties and risks include
changing consumer preferences, lack of success of new products,
loss of the Company's customers, competition and other factors
discussed from time to time in the Company's filings with the
Securities and Exchange Commission.
Related Links:
Blog: http://orienscorp.wordpress.com/ Twitter: @orienscorp
Contact:Team Oriens IR
Div. (702) 483-0318
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