SOURCE: Metrospaces

Metrospaces

April 20, 2015 02:04 ET

Metrospaces Issues Letter to Shareholders

MIAMI, FL--(Marketwired - Apr 20, 2015) - Metrospaces, Inc. (OTC PINK: MSPC) issues letter to shareholder regarding the state of execution of our hotel projects.

Daniel Silva, Metrospaces CEO stated: "The 1st quarter of this year has evolved in a very predictable manner. We have executed in the planning approval of our 2 main hotel projects in Venezuela as per our forecast, and the grape harvesting season at the Ikal Lodge and Winery has developed as expected. Our overall process in the planning approval of The Santo Cristo Hotel, and Tulasi is proceeding well as expected and we are happy with the overall timing of the projects." Here is a more detailed description of our projects:

1. IKAL LODGE AND WINERY: This first year of our acquisition turns out to be a record-setting year for wine production. We are still waiting for final delivery and weighing, however we are expecting at least 420,000 kgs of prime wine grape versus 380,000 we delivered last year. However, more importantly, now that we have taken over the asset, we are pushing forward with possible JV partners in the financing and developing of the real estate part of the project. We are in advanced conversation with several developing and financial partners to develop the hotel, winery and 29 luxury villas. For more detailed forecasted financials on the project, please check download our Business Summary from the link below:

www.ikal1150.com

 For a link to the "IKAL LODGE AND WINERY" project:
 https://db.tt/Rhwoq8SV

2. HOTEL SANTO CRISTO: Our overall planning approval process is coming along quite within our forecast. We are now in final approval stages. We expect to have a completely approved project within 60 days, at which time we will be able to present the project to local banks for 90% LTV construction and FF&E debt financing. We are very excited about this project, since we will be the first new hotel to attend the "Orinoco Oil Belt." 
https://db.tt/MnqmxbTy

3. TULASI LUXURY VILLA SPA AND HOTEL: This is the hotel we expect to be to bring online first. This project had full planning approval when we acquired it; however some permits needed to be renewed. We expect to have all permits renewed with the project ready to present to banks within 30-45 days.

https://db.tt/StIPXi3H
For a link to our other hotel project:
https://db.tt/lXwggoal

About Metrospaces

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. It is operated by 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.

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 Metrospaces 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 $450Million.

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.

About Ikal Lodge and Winery:

Ikal Lodge and Winery is a 75 hectare wine-based vacation home/hospitality real estate project. The project consists of a 25-master suite luxury hotel, a winery and 29 luxury villas that will be sold under fractional ownership. Ikal currently sells its award-winning wines in Spain, Mexico and the US. See: www.ikal1150.com.

Relevant Links:
http://metrospaces.net/

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.

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