Oriens to Reduce Authorized Shares
December 06 2013 - 11:14AM
Marketwired
OTHM Finds Common Ground With Debt Holders to Stave Off
Dilution
LAS VEGAS, NV-(Marketwired - Dec 6, 2013) - Oriens Travel &
Hotel Management Corp. (OTC Pink: OTHM), the Next Generation
International Hotel Brand Operator, operating its Hotel PURE brand,
announced today that the Company has reached an amicable
arrangement with its debt holders (in principle) which will allow
Oriens to reduce its current Authorized Shares.
"For the sake of future and pending endeavors, it is important
we convey to the market that this Company and its management have
the most sincere intentions to grow our organization," stated Ken
Chua, President of Oriens Travel & Hotel Management. "The
proposed reduction however, has to be made responsibly and with
better foresight than that of the original increase. This means
finding an amicable solution to the current rate of conversion -
which we believe has been achieved."
The Company has not yet confirmed the number of shares to be
reduced from the Authorized Share count, but management indicates
that it anticipates being able to deduct between one quarter and
one third of the shares currently authorized, greatly reducing
dilution.
Ken Chua continued, "There are a number of tasks that must be
accomplished in order to propel Oriens to the levels at which we're
confident we can perform. Managing our corporate structure
early in the game is one of them, achieving the 'Current Status'
prior to committing to an audit is another. Otherwise, our
merger/acquisition, upgraded FROL expansion and perhaps maybe even
a new branding opportunity, all seem to be moving along very
well."
The Company is currently in the process of formalizing
arrangements with its debt holders and should see the action to
reduce the shares initiated before the new year.
Oriens Travel & Hotel Management Corp.
(www.orienscorp.com) (OTC Pink: 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.
Blog: http://orienscorp.wordpress.com/ Twitter: @orienscorp
Contact:Team Oriens IR
Div. (702) 483-0318
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