SOURCE: Oriens Travel & Hotel Management Corp

October 02, 2014 08:56 ET

Oriens -- E-Net Merger Finalized; New Assets Added

Oriens to Reflect Greater Value From E-Net's Assets/Revenue

LAS VEGAS, NV--(Marketwired - Oct 2, 2014) - Oriens Travel & Hotel Management Corp. (OTC Pink: OTHM) (PINKSHEETS: OTHM), the Next Generation International Hotel Brand Operator, announced today that the proposed merger between Oriens and E-Network de Costa Rica SA ("E-Net") has been completed; OTHM officially expands into the Costa Rican hospitality markets.

Although contemplated for some time, at a special meeting of the Board of Directors, held on Wednesday, September 10th, 2014, the plan to acquire and merge E-Net with Oriens was met with extreme optimism and excitement. Not only does this merger solidify Oriens' positioning in what could be one of the best countries in the world to invest in, the merger delivers new assets to bolster the Company's balance sheet, along with proven knowhow. The merger ensures Oriens will have the opportunity to re-launch its online booking engine inside a fairly unsaturated market. Combining this opportunity, with an executive capable of executing Oriens' business model in this particular market, Oriens' shareholders have an interest in a company on the path to growth and sustainability.

Given the merger completed within the third quarter (2014), accounting of the transaction should be consolidated and disclosed within the upcoming quarterly report.

"What the third quarter disclosures will show is that this merger has a purpose, is real and valuable to the shareholders of this Company," stated Melvin Pereira, President and CEO of Oriens. "But more important, what is to come in the upcoming weeks, will show that I am only about the business of building this Company and creating shareholder value."

To get links to the Merger Infograph and Shareholder Event Pre-Registration page, please visit: http://orienscorp.wordpress.com/2014/10/02/company-merger-infograph-and-finally-shareholders-can-pre-register-for-shareholder-event/.

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.

Blog: http://orienscorp.wordpress.com/
Twitter: @orienscorp
Facebook: www.facebook.com/orienstravel

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.

Contact Information

  • Contact:
    Team Oriens
    IR Div.
    (702) 483-0318