SOURCE: Oriens Travel & Hotel Management Corp

October 17, 2014 08:15 ET

Oriens & E-Net; the Next Steps

Merger Prepped to Fully Transition to Pure Hospitality Solutions

LAS VEGAS, NV--(Marketwired - Oct 17, 2014) - Oriens Travel & Hotel Management Corp. (OTC: OTHM) (PINKSHEETS: OTHM), the Next Generation International Hotel Brand Operator, recently merged with E-Network de Costa Rica SA ("E-Net") -- soon to be known as Pure Hospitality Solutions, Inc. [pending FINRA approval] -- announced today that the Company has completed the submission process for FINRA to enact the merger's resolve; recapitalized Company, new ticker, new name. Oriens is now in the comment period of FINRA's review.

Management expects that shareholders will be looking at a newly organized Company sometime within the next month. In order to formally effectuate the merger, management will have to complete the last remaining milestones. Generally, these include inter alia: 1) obtaining a new CUSIP number, 2) filing with FINRA, and, 3) setting an 'X-Date.' The estimated time of completion is mostly subject to FINRA procedures. At present, management has met many of the required milestones and is working toward completion.

At the 'X-Date,' Oriens shall officially become Pure Hospitality Solutions (should FINRA approve); leaving E-Net as a wholly owned subsidiary. The new Company's shares will be restructured to include a split that appropriately supports the capitalized value E-Net brings to Oriens' shareholders. At that time, all those stockholders who hold less than a certain number of shares of the Company's common stock (as of the X-Date), will be rounded up to maintain their equity ownership post-split. This 'Round-Up' program was instituted by the Company in an attempt to preserve the value of every shareholder, as management's intention is to build value, "not take it away;" previously stated by Melvin Pereira, President & CEO of Oriens. "No One Gets Left Behind!"

Mr. Pereira concluded, "I will attempt to move swiftly and with laser focus on the task at hand... growth and value. As we proceed with this mandate, every decision made will be earnest, progressive and as best as possible, in favor of shareholder interest. The elements of this merger are constructive for growth and suited for long-term success. I do believe our shareholders will find great confidence in the new management team we will build, as well as the evolved business model we will execute. Together, we will continue to have a shared interest in the future of this Company's value."

About Oriens Travel & Hotel Management Corp. ( (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.

Twitter: @orienscorp

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