Oriens
Travel & Hotel Management, the next generation international hotel brand operator,
which recently merged with E-Network de Costa Rica SA (“E-Net”) and is now
known as Pure Hospitality Solutions, Inc., has accomplished its reverse split.
With the news comes the completion of the initial restructuring and brings the
capitalization table closer to supporting the true value of the company’s newly
acquired assets and revenue.
Melvin
Pereira, president and chief executive officer of Pure Hospitality Solutions
commented, “I’d like to take this opportunity to welcome everyone to Pure Hospitality
Solutions, a new, invigorated company where management only has growth on our
mind. We are fortunate enough to begin our Pure journey with several million
dollars in hard assets, real revenues, and a team that knows how to get the job
done.
“The Pure
portfolio consists of real estate, development projects and proprietary
intellectual property/technologies; supported by a management team having a
plethora of industry know-how. In addition to newly injected revenues, we have
been acquiring assets across Jaco Beach, Costa Rica; one of the top ten
countries to invest in real estate. We plan on building the ‘by PURE’ brand
into one of the most recognizable names in Jaco. Then, internationally, as our
portfolio and reach continue to grow.”
Pure Hospitality
now trades under the symbol OTHMD for the next 20 business days and will begin
trading under the symbol PNOW, December 10, 2014. Shares of the authorized
stock and common outstanding stock have undergone a reverse split at a ratio of
600 to 1. The authorized shares now reflect 200 million shares of common stock,
while shares of the outstanding stock now reflect approximately 3,044,825
(subject to adjustment due to the effect of rounding fractional shares into
whole shares). Shareholders holding between 1 share and 139,800 shares of the
company’s common stock were “rounded up” to 233 shares of the common stock
following the reverse.
Pereira
instituted the round up program specifically to ensure that no shareholder was
reversed out of the stock; thereby keeping shareholder participation in tact.
For more
information on the company visit www.orienscorp.com
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