SOURCE: Metrospaces, Inc.

Metrospaces, Inc.

November 09, 2017 09:10 ET

Metrospaces Reaches Preliminary Agreement for Crowdfunded Mini-IPO for Etelix

NEW YORK, NY--(Marketwired - Nov 9, 2017) -  Metrospaces, Inc. (OTC PINK: MSPC) announces approval of preliminary agreement for Crowd funded Reg A Mini-IPO for majority held Etelix. 

Mr. Oscar Brito, Company CFO, stated: "We have reached a preliminary agreement with Minivest (www.minivest.com) to do a Reg A mini-IPO for Etelix. We are very pleased with the revenue growth Etelix has continued to show through 2017 of approximately 100% over 2016. Although some steps still needed to be had, including regulatory hurdles, this funding would give Etelix enough financing for the construction of its first data center and potentially fuel growth higher than the current 100% YOY growth. Although the process is still preliminary, the goal is raise $2M in this IPO. This sort of financing will be very positive for Etelix and MSPC since it would be a straight common stock offering with a floor price and no price reset mechanism, thus giving Etelix sure footing on its financing. Minivest is a leading crowd funding mini-IPO platform. We have seen the success they have had with pre-revenue companies, so we are excited about the possibilities of this financing since Etelix is set to do over $7.5M in revenue and will be EBITDA positive for 2017. Although there is no exact timing for this financing, we are aiming at Q1 of 2018."

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 Miami, USA. It is operated by an elite group of real estate and investment professionals and entrepreneurs located in New York City, Miami and Buenos Aires. Company shareholders have extensive careers in real estate and business financing worldwide, and have funded projects both in the America's and across Europe valued in excess of US $550Million.

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.

Relevant Links:
http://metrospaces.net/

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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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