Metrospaces Inc (MSPC)

[Tonyeight]

GM ALL ==NEWS OUT == NEWS OUT ============HAPPY FRIDAY
NEW YORK, NY, March 09, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (OTC: MSPC) announces that it won't honor any notice of conversion for common shares for 3(a)10.

Mr. Brito, Metrospaces President and CFO stated: "Last night, after market close, our stock transfer agent notified us of the reception of a notice of conversion sent in for the issuance of common shares in

respect to the 3(a)10 with CF3. The transfer agent confirmed that no shares were available for this issue, and that therefore they would not

honor this notice of conversion for common shares. They additionally confirmed that no shares would be issued for this 3(a)10, now or in the

future. In the last week of January of this year, we were made aware by specialized advisors and counsel of the potentially fraudulent structure of this particular 3(a)10 settlement agreement, brought unwillingly to us. We have since made the decision not to abide this settlement agreement since it is our highest conviction that the structure and much of the content is potentially fraudulent. We are looking forward to vigorously defeating this settlement agreement in the courts, since it is our deepest conviction that we would get a judgment in our favor. We firmly believe that this was a structure used to potentially defraud the company and its shareholders. It is our fiduciary duty to defend the company and its shareholders against malicious players in the market, and we will honor our duties to the company and our shareholder with the utmost integrity. The matter is currently being handled by our recently hired specialized top legal team out of NYC. No shares have been issued, and no shares will be issued for this 3(a)10 scheme. Any potential settlement will be cash only."

About Metrospaces

https://www.etrade.wallst.com/v1/stocks/news/search_results.asp?docKey=1-SN20180309004310-7MFJU29A4PEUVD2MJJ6Q5N03OR&DMSourceID=GlobeNewswire&Source=GlobeNewswire&docDate=2018-03-09%2011:57:00&headline=Metrospaces%20Announces%20That%20it%20Will%20Not%20Honor%20Notice%20of%20Conversion%20for%203%28a%2910%20Due%20to%20Potential%20Fraud%20Against%20the%20Company&refSymbols=US;MSPC