Oriens Provides Update on Finalization of Acquisition; Closing & Transfer of Asset

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[{"type":"text","content":"\n \n \n Oriens Provides Update on Finalization of Acquisition; Closing & Transfer of Asset\n \n \nOriens Provides Update on Finalization of Acquisition; Closing & Transfer of Asset\n \n LAS VEGAS, NV--(Marketwired - Aug 19, 2014) - Oriens Travel & Hotel Management Corp. (PINKSHEETS: OTHM), the Next Generation International Hotel Brand Operator, operating its Hotel PURE brand, announced today, that Ken Chua, President of Oriens Travel & Hotel Management, along with the Company's executives and consultants (Domestic and Costa Rican), are in Costa Rica completing pending acquisitions; primarily initiating the formal transfer of assets.\n \"We have come to gain a deep respect and appreciation for the method in which business is conducted and rules are adhered to and enforced in Costa Rica,\" stated Ken Chua. \"Many assumptions are made about the level of sophistication displayed by those governments and businesses outside of the United States; not considered 'on par' with fully industrialized well developed countries. However, in our endeavor to re-launch both FROL and the Hotel PURE brand and grow a portfolio of real estate assets inside of a rapidly growing tourist destination in Central America, we have learned otherwise of Costa Rica. We deeply admire their discipline and systematic approach to protecting the interest of all parties in commerce.\"\n Management indicates that by U.S. standards, the acquisition of specific property interest, could have already been announced as \"closed.\" However, given the methodical nature of how things are done in Costa Rica, especially on an international level, the elements inherent to \"rights and ownership\" are more particular than one would expect. This becomes even more evident when dealing with sizable lenders, major law firms and well-heeled investors -- all of which Oriens has had the pleasure of conducting its business.\n While Oriens has only made formal announcement of one property purchase, all of the Company's acquisition interest have made substantial progress on this visit to the Central American country. However, it's the formal transfer of interest in the 15 story, forty-four unit beach-front condo/hotel building in Costa Rica's Jaco Beach, which was the primary focus of this trip. \n Management indicates there is only one remai...

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