NEW YORK, NY--(Marketwired - Apr 19, 2017) - Metrospaces, Inc. (OTC PINK: MSPC) announces the execution of the acquisition of 51% of Miami-based Telco Operator Etelix USA for $2Million.
Mr. Silva stated: "We are very excited about this new acquisition. We are eager to start working hand-to-hand with Etelix in helping them finance their continued growth in build-to-suit data hosting buildings and also very much look forward to working with Etelix in rolling out their triple-play home data and voice products into all our future residential and commercial developments. Etelix.com USA did $1.3M in revenue in 2015, growing to over $4M in 2016 and is on a run-rate to do $7-8M in 2017. The company has been profitable since inception and boasts an EBITDA margin of approximately 9-10%. Metrospaces Directors Oscar Brito and Daniel Silva will join the Etelix board in representation of our 51% stake. We have high expectations regarding our synergies to develop and build data hosting centers in secondary markets across the USA. This acquisition will be consolidated as a subsidiary with Metrospaces financials. Current management will continue to run the day-to-day, with Mr. Oscar Brito joining in as interim-CFO.
Additionally, the company announces that it has amended Unanimous Board Decision to prohibit a reverse stock split before April 17th, 2017.
About Etelix.com USA, LLC
Etelix.com USA (http://www.etelix.com/) is a Miami-based, FCC-licensed voice, SMS and data carrier. The company's main products and services are international voice wholesale operator and distributor, residential and commercial triple-play provider, as well as data hosting services. 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 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 $550Million.
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 $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.