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Over 50% of Debt Repurchase Program Completed -- One Round Remaining; Shareholders Value Proposition Increased
LAS VEGAS, NV--(Marketwired - Mar 28, 2016) - Pure Hospitality Solutions, Inc. (
"This means that we have now eliminated over 50% of the legacy debt targeted in this phase of the Debt Repurchase Program," stated Melvin Pereira, President and CEO of Pure Hospitality Solutions, Inc. "This also means that we have officially killed the majority of the debt that has poorly impacted the Company and stifled shareholder value for years. As evidenced by a series of successful securities buyback payments, shareholders clearly see, there is real opportunity and value here."
Completing over 50% of the Debt Repurchase Program, the Company has eliminated a dozen noteholders -- having only one payment remaining to achieve 100% removal of the remaining legacy debt. Read: Three Down One to Go(http://www.purenow.solutions/three-down-one-to-go/)
The securities buyback plan has also minimized the Company's financial liabilities significantly. Derivative liabilities have currently been reduced by over $1.25 Million, eliminating more than 3 billion shares of possible dilution.
Shareholders have indicated, that these ongoing successes definitely lend to a stronger sense of confidence -- in management, the market and the global success of the Company's flagship product, Oveedia.com.
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. PURE is the creator of Oveedia (www.Oveedia.com), the Central American-Caribbean online travel hub.
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Safe Harbor 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.