Metrospaces Inc (MSPC)

[Prophetteer]

Remember to letter to shareholders a couple of months ago?

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.

We've already gotten news concerning #1, but #2 and #3 are still floating in the wind. If you'll notice the time frames on each of those, you will see that it is about time that we receive updates.

First, we'll likely hear about the Tulasi Luxury Villa Spa and Hotel. I expect that's why this accumulation is happening. It must be good news!!!