LAS VEGAS, NV-- December 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.
SOURCE: Oriens Travel & Hotel Management Corp