SOURCE: Oriens Travel & Hotel Management, Inc.

January 28, 2014 09:03 ET

Oriens Executes LOI With Hundley Associates to Proceed With Merger/Acquisition

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 Information

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