NEWS
Metrospaces Announces Cancellation of 1.6 Billion of Common Shares
NEW YORK, NY, March 05, 2018 (GLOBE NEWSWIRE) --
Metrospaces, Inc. (OTC: MSPC) cancels 1.6 billion common shares held by management. Mr. Silva, Metrospaces CEO, stated: “On Friday, March 2, 2018 Metrospaces held a board meeting that resolved the cancelation of 1.6 billion of common stock previously held by CEO, Daniel Silva, and CFO, Oscar Brito. This will bring our total issued and outstanding shares down from 5,389,941,887 outstanding as of February 22, 2018 to a total of 3,789,941,887. Additionally, the board decided to promote Mr. Oscar Brito to the position of President and interim CFO, effective immediately. As of January 15, 2018 Mr. Brito has been permanently living in City of New York to be more focused on the expansion of M&A and investment activity in operating companies with real estate or infrastructure components such as Etelix. I will continue to head our pure real estate projects in Mendoza, Argentina as well as other real estate projects we are strongly pursuing in the US. Mr. Brito’s background in M&A and investment in operating companies is recognized and it is our opinion that bringing his focus to this area of the company will benefit shareholders in the mid and long-term. Mr. Brito will continue to be the CFO, until a proper candidate that can better focus on this activity can replace him. As part of this new focus, the company has incorporated Cann Partners, Inc. (a Colorado corporation), as a wholly-owned subsidiary. This company will seek to make acquisitions and investments in legal medical cannabis-related companies and ventures, in particular on the real estate part of the industry. We are to clearly state, that as of yet, the Company has not realized any acquisitions or investments in the cannabis industry.”
