Oriens' Talks Materialize to Upcoming LOI Agreement
December 12 2013 - 8:33AM
Marketwired
Oriens' Talks Materialize to Upcoming LOI Agreement
LAS VEGAS, NV--(Marketwired - Dec 12, 2013) - Oriens Travel
& Hotel Management Corp. (OTC Pink: OTHM), the Next Generation
International Hotel Brand Operator, operating its Hotel PURE brand,
announced today that merger/acquisition talks are winding down as
parties prepare to engage in a formal Letter of Intent
(LOI).
"The complicated piece about this venture is, all parties
involved becoming fully acquainted with ongoing cash-flows,
projections and operational integration and expansion," stated Ken
Chua, President of Oriens Travel & Hotel Management. "These are
vital components for both private and institutional investors, as
investment targets have been separated into multiple phases; now
exceeding the originally anticipated $10 Million capital
raise."
Management indicated that talks are essentially ready to be
solidified by an LOI as executives complete its review of the
cash-flows and work to produce a final formalized plan. Once the
arrangement is approved by the merger/acquisition target, along
with the proverbial 'head nod' from cited investment sources, the
deal will proceed forward.
About 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.
Related Links:
Blog: http://orienscorp.wordpress.com/ Twitter: @orienscorp
Contact: Team Oriens IR Div. (702)
483-0318
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