Oriens Travel & Hotel Management Corp. (OTC PINK: OTHM) (PINKSHEETS: OTHM), the Next Generation International Hotel Brand Operator, operating its Hotel PURE brand, announced today, that Oriens, via its associate partnerships, has been approved to receive traditional asset backed financing in excess of $2 Million.
“We are very conscious of toxic-financing and how it detrimentally affects shareholders,” stated Ken Chua, President of Oriens Travel & Hotel Management. “This is why having hard assets, which can be leveraged through more traditional and conservative, non-toxic fundings, is so important; ultimately to shareholders and for overall Company value. Through our partnerships in Costa Rica, we have been able to accomplish just that and so much more.”
The Company is deploying a two part strategy to finance its endeavors. First, traditional real estate loans will act as bridge capital. Next, Oriens will secure long-term equity based financing – eliminating debt while increasing equity ownership; providing Oriens with non-toxic operating capital. Currently, the Company is in talks to secure close to $10M in long-term equity based financing.
Mr. Chua concluded, “We expect to secure our first bridge capital funding during the next scheduled trip down to Costa Rica. This will assist us with completing our initial acquisition, while advancing our position with negotiations for two additional properties in Jaco.”
Management indicated the Company is on schedule to complete its acquisition.
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.
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.
IR Div. (702) 483-0318