LAS VEGAS, Oct. 14, 2015 /PRNewswire/ -- Pure Hospitality Solutions, Inc., (PNOW) announced today, that on the heels of a successful release of Oveedia beta (www.Oveedia.com), the Company has secured new long term capital financing, from accredited investors, to further support the product launch and roll out, of PURE's Central American-Caribbean OTA, into the Latin American online travel market (2016 est. $34B). The Company has raised the initial monies of a $500k 'first round' – for the completion and full-scale launch of Oveedia.
"Now, more than ever before, raising additional money, but in the least toxic way possible, is incredibly important," stated Melvin Pereira, President and CEO of Pure Hospitality Solutions, Inc. "We are pleased to find that investors, slowly but surely, are beginning to realize our value and true growth potential. We now have real investors at the table, who see the long-term value behind Oveedia and are enthusiastic to help us realize our dream."
Management anticipates that the Company will continue to receive all types of investment offers from accredited investors, as Oveedia's beta continues to be shaped. However, as the Company looks to quickly establish Oveedia as a formidable competitor within LATAM, management will be diligently precautious of the money sources offered to secure new long term capital financing, as "not all money is good money," said Mr. Pereira.
Mr. Pereira continued, "Simply because we are traded on a micro-cap exchange, does not mean we should think less of ourselves or our shareholders. Nor should we allow others to perceive us negatively. So, we will continue to seek and secure new long term capital financing from accredited sources that meet OUR criteria. This will allow us to responsibly support Oveedia's beta rollout and continued development."
In addition, management anticipates further reducing legacy debt by an additional $3 Million. This could potentially lower the Company's total outstanding debt to just under $600k. Thus, favorably positioning PURE to secure new long term capital financing of a significant amount. Management believes this will help to ensure the continued growth and acquisition positioning for Oveedia.
About Pure Hospitality Solutions, Inc.
PURE provides proprietary technology, marketing solutions and branding services to hotel operators and condominium owners. The Company's vision is to build competitive operations in the areas of (i) online marketing and hotel internet booking engine services, (ii) hotel branding and, (iii) own, operate and in some instances develop, boutique hotels under the new, "by PURE" brand.
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