MIAMI, FL, United States, via ETELIGIS INC., 11/03/2014 – – Metrospaces, Inc. (OTC Pink: MSPCD) (PINKSHEETS: MSPCD), announces the approval of a 500-to-1 reverse stock split.
Mr. Brito stated, “Even though our company has evolved in just 2 years from a developer of small residential real estate projects to a mid-sized hotel developer, our stock price has not reflected it. Additionally, we have sold for a profit our first 2 projects; cash flow that is now being deployed for planning approval for the Tulasir Spa and Hotel and the Orinoco Oil Belt Business Hotel. However, due to our low stock price, it has been difficult to attract long term investors that will support our capital stock. We are very optimistic that this decision will help our company attract the sort of long term investors we know our company can. As we focus our resources on hotel development, we provide a US-based investment vehicle for investors looking for outsized returns by investing in emerging market hotel development deals. Additionally, we are certain to create additional shareholder value by creating one of the first boutique hotel chains in the region. With the JV hotel development agreement we executed with Prohotels (Argentina) we have put in place the right human resources to develop a world-class boutique hotel brand/concept. This agreement calls for the development of 4 hotels in the next 3 years, something we feel very optimistic to accomplish.”
For a link to our 2 hotel projects currently underway:
Metrospaces www.metrospaces.net is a publicly traded real estate investment and Development Company which acquires land, designs, builds, and develops then resells condominiums and Luxury High-End Hotels, principally in urban areas of Latin America. The company’s current projects are located in Buenos Aires, Argentina, and Caracas, Venezuela.
Six years ago Metrospaces shareholders saw a unique opportunity to participate in several exciting property markets around the world. Through their world-wide network of highly recognized real estate entrepreneurs, the company was able to capitalize on unique real estate development opportunities. Since Inception the company has leveraged those relationships along with extensive financial expertise and transformed excellence by results.
Metrospaces is a boutique real estate development company, a product of the alliance of Metrospace shareholders, along with an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the America’s and across Europe valued in excess of US $350Million.
Metrospaces’ majority shareholders has partnered with Investors on Elite properties including The London BLVGARI 5 Star Hotel, and is currently involved in negotiations for the development of several Elite luxury properties in South America.
Among Metrospace partners are Architects, Real Estate Developers, Agents and Attorneys of the highest standing, with extensive experience in the global property market.
Metrospaces was originally founded by company President Oscar Brito.
Safe Harbor Statement:
Statements in this news release may be “forward-looking statements”. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Metrospaces Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
SOURCE: Metrospaces, Inc.