Orion Diversified Holding Co, Inc. Announces Subsidiary Acquisition with HULL Energy, Inc.
NEW YORK, Oct. 28, 2013 /PRNewswire/ -- HULL Energy, Inc., now known as Gemini Group Global Corp. (OTC: HULL) and Orion Diversified Holding Co, Inc. (OTC: OODH) jointly announce that they have executed a share exchange agreement with G3's newly formed subsidiary.
On October 18, 2013, Gemini Group Global Corp. (G3), entered into a share exchange agreement with Orion Diversified Holding Co, Inc. Under terms of a share exchange agreement, G3 agreed to exchange 10,000,000 shares of its newly formed, wholly owned subsidiary ORION DHC FUNDING, INC. (OFND) with shares of OODH at a 1:1 exchange ratio. Upon completion, OFND will be a wholly owned subsidiary of ORION DHC, Inc. (OTC: OODH). The 10,000,000 shares issued under this share exchange agreement will be issued as noted under Rule 145. During the week of October 28th, OFND intends to file its Notice of Intent with the SEC in order to be regarded as a Business Development Company (BDC). Shortly after completion of this filing, OFND will complete its audit and file the required N-54a with the SEC. Once approved, OFND will file Form 1-e with the SEC in order to place $5,000,000.00 under the Form 1-e exemption.
"At G3, we are committed to working with quality companies that have viable business plans and that are poised to benefit from the BDC structure for their existing projects. The OFND BDC subsidiary will be well positioned to assist the parent company's rapidly expanding company operations. ORION DHC is a perfect candidate for the BDC structure as they currently have multiple operating sectors with several businesses ready to be rolled out as dividends to the OODH shareholders," stated Dr. Scheer, CEO of G3
Chairman & CEO of ORION DHC, Inc., Mr. Randy Hoff, comments on the acquisition, "Our shareholders will be delighted to know that careful thought has been taken by our firm (OODH) as well as by Dr. Scheer's newly acquired firm Gemini Group Global Corp. in the structuring of the ORION DHC FUNDING, INC (OFND). The design of this fidelity bonded BDC is to ensure shareholders are further protected from dilutive instruments in furtherance of increased shareholder value over the long-term- it mimics an ETF in many ways. The benefits to a holding company such as ours, especially during periods of exponential expansion, are tremendous, primarily in business development, with an enhanced effect of reducing opportunity costs on many levels."
Gemini Group Global Corp (OTC: HULL), formerly known as HULL Energy, Inc., is a publicly held holding company that invests via equity and debt in both privately held and publicly traded companies. These investments must fit our specific investment strategy. G3 also buys, funds or joint venture cash-flows based projects and participates in the revenue for the duration of the income stream.
ORION DHC, Inc. EST~ 2008 is a publicly traded holding company with profitable business operations in several sectors and utilizes time-tested value investing principles as outlined by Benjamin Graham in the fourth edition of "The Intelligent Investor."
Safe Harbor Statements:
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.
In addition, Please read the ORION DHC, Inc Investment Disclaimer by clicking the following link: http://oriondhc.com/investor-relations/
SOURCE HULL Energy, Inc.