Orion Diversified Holding Announces Acquisition Of HULL Energy Subsidiary

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Description

To acquire the subsidiary Orion DHC Funding Inc. in an all-stock exchange.

Orion Diversified Holding Co, Inc. (OODH) has acquired a subsidiary of Gemini Group Global Corp. (G3) in an all-stock exchange, the companies announced Oct. 28.

On October 18, 2013, Gemini Group Global Corp. (G3), formerly known as HULL Energy Inc., entered into a share exchange agreement with OODH. Under terms of the share exchange agreement, G3 agreed to exchange 10 million shares of its newly formed subsidiary ORION DHC FUNDING INC. (OFND) with shares of Orion at a 1:1 exchange ratio. Upon completion, OFND will be a wholly owned subsidiary of OODH.

Shortly after filing with the U.S. Securities and Exchange Commission (SEC), OFND will complete an audit and file required documents with the SEC.

"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," said Alexandre Scheer, CEO of G3.

Randy Hoff, chairman & CEO of ORION DHC said acquisition should delight shareholders in structuring a deal for ORION DHC FUNDING INC.

“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,” Hoff said. “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. is a publicly held holding company that invests via equity and debt in both privately held and publicly traded companies.

ORION DHC is a publicly traded holding company with profitable business operations in several sectors and utilizes time-tested value investing principles.