NEW YORK, NY, June 29, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (OTC: MSPC) announces that Etelix has been spun off as its own public company via reverse takeover of PureSnax (OTC:PSNXD)
Mr. Silva stated: “This is a huge day for Etelix and a great win for Metrospaces shareholders. Metrospaces will now own 44% of the combined company, down from 51%. However, now Etelix will have its own public market to continue with acquisitions and set its own path. PureSnax now owns 100% of Etelix, and MSPC will now own 44% of total PSNXD public capital. Not only is this a huge win for Metrospaces and our shareholders, it represents a huge arbitrage opportunity for new investors to buy into Etelix. After the reverse takeover, PSNXD will only have a total of 15 million total shares, however, there will only be 75,000 in the float, so there will be very little opportunity to buy PSNXD except through MSPC. Etelix is on its way to having another record revenue and operating profit year and we will continue to be long-term shareholders and partners of Etelix to continue to reap the rewards of this investment. With June revenue of $1.2 million and profitable, Etelix is on its way to smashing last year’s revenue and profit. MSPC will continue to have an active role in Etelix’s growth through Board Representation, continued investment and helping them with new acquisition targets. We look forward to a very long-term, successful partnership and investment.”
About Etelix.com USA, LLC
Etelix.com USA (http://www.etelix.com/) is a Miami-based, FCC-licensed voice, SMS and data/hosting operator. The company’s main products and services are international voice wholesale, data and hosting services as well as residential and commercial triple-play provider. The company was founded in 2007 and has been profitable since inception.
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.
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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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