NEW YORK, NY, July 19, 2018 (GLOBE NEWSWIRE) -- PureSnax International Inc. (OTC PINK: PSNXD) today issued a letter to shareholders addressing concerns regarding financial statements and disclosures
LETTER TO OUR SHAREHOLDERS
To PureSnax International Inc. Shareholders:
Etelix Reverse Take Over (RTO)
On June 25, 2018 Etelix finalized the a Reverse Takeover (“RTO”) of PureSnax by mean of this agreement; Etelix.com USA, LLC became a wholly owned subsidiary of PureSnax International Inc., while Etelix’s shareholders combined took control of 80% of PureSnax.
Etelix is an international telecommunication carrier, based in the city of Miami, holder of a 214 license granted by the Federal Telecommunications Commission (FCC); which primary business is the international long distance calls exchange between telecommunication carriers, PSTNs, PTTs, Mobile Operators, Mobile Virtual Network Operators (MVNOs), Long Distance Operators and Long Distance Wholesale Carriers; supplying international connectivity and international call transit among all countries of the world.
An important milestone in the evolution of Etelix was in 2013, when the company was part of a consortium of major carriers for the upgrade of the Maya-1 submarine cable systems that runs from Hollywood, Florida to the city of Tolu in Colombia. This consortium was led by Orange Telecom and Orbitel, where Etelix participated with 10 Gbps of capacity. The bulk of this contract was sold to Millicom (Tigo Costa Rica). This capacity considerably enhanced Tigo's ability to deploy world-class 4G services to its customers in Costa Rica.
Management
As a result of the RTO, the management team of Etelix is assuming managerial and officer positions at PureSnax. From now on Leandro Iglesias will act as President/CEO and Chairman; Alvaro Quintana will serve as Treasurer/Secretary; while Juan Carlos Lopez Silva will continue as Chief Commercial Officer (CCO) and Eykis Sambrano as Head of the Network Operation Center (NOC).
PureSnax shall also have the collaboration of Oscar Brito, President of Metrospaces, as a member of PureSnax’s Board of Directors, looking over the financial strategy. Italo Segnini shall continue as a member of Etelix´s Board of Directors, providing collaboration in Strategic Business Development, as well as the executions of our Mergers and Acquisitions strategy.
Customers
Etelix.com USA LLC has more than 150 telecommunication carriers interconnected to its network. Among the most important clients it is worth to mention: Verizon, KDDI, PCCW, Hutchinson, Flow Jamaica (Cable and Wireless Caribbean), Cable and Wireless Panama, Millicom (TIGO), Telefonica de España (Movistar), Telecom Italia (TIM), Portugal Telecom (Meu), Optimus (NOS), Belgacom, Deutsche Telekom, Vodafone India, Airtel (Aircel), Reliance, TATA Communications, Orbitel, Entel, China Telecom, among many others.
As part of Etelix's daily business development activities, we continue exploring new interconnections with important telecommunication carriers, enriching our customer portfolio. We will be informing through Press Releases the most significant new agreements that increase our company value.
Business Plan
In 2018, Etelix.com USA LLC core business growth has exceeded our expectations, hitting revenue records month after month. Our sales have increased from $642,000 in January; $726,925 in February; $837,178 in March; $1,112,303 in April and $1,220,303 in May. In the coming days, we will be informing our shareholders about revenue results for June 2018.
It is important to remark that since 2015 until the present time Etelix has been systematically growing, showing revenues for 2015 of $1.2 Million; $4.0 Million in 2016; and $7.7 Million in 2017 and EBITDA positive for all those years.
As for PureSnax’s Business Plan, besides collaborating in Etelix.com USA LLC´s business plan, in we will exploring to participate in technology and telecommunications businesses aligned with Etelix, such as investments in Submarine Cables, 5G, Data Centers, all through strategic associations, acquisitions or joint ventures.
All initiatives, prior to the RTO, that were being developed by Etelix.com USA LLC on potential mergers and acquisitions in the Telecommunications area, will now be part of PureSnax´s business plan. With this in mind, we will constantly be seeking for opportunities to increase shareholder value. At this time, we are working on two potential acquisition opportunities that are in the exploration and pre-negotiation stage; once we reach definitive agreements on the possible terms, we will inform our shareholders.
In both cases, Strategic Associations/Joint Ventures or Mergers and Acquisitions, we will clearly inform which financing strategy will be implemented, with the purpose of properly informing our shareholders in regards to all strategic aspects of each deal.
In PureSnax/Etelix we maintain the interest of exploring real and practical applications of new technologies as Internet of Things (IoT); and Blockchain protocol applications for Telecommunications. As soon as we have concrete lines of action on these ventures, we will be informing our shareholders.
Shareholders Structure
As a result of the RTO by Etelix.com USA LLC, all preferred shares at PureSnax were cancelled and only common shares were left, therefore the total of outstanding shares is 15,000,000 with a current float of 122,981 shares.
Summarizing, the shareholders groups that conform PureSnax are: Metrospaces 40.912%, Etelix´s original shareholders 39.308%, PureSnax´s original shareholders 5%; the team of professionals who structured the RTO 13.959%; and a Float 0,820%.
This information was already submitted to the Transfer Agent, and the new shares certificates already have been issued; in the next few days it will be updated in our OTC profile.
Formality Duties
From the first day, we’ve been working in all formal activities arising from the RTO, without neglecting the business activities that increase the value of our company. For that we have the support of Etelix´s Legal, Finance and Accounting team, and with several PureSnax's shareholders that don´t have operational responsibilities in Etelix, but are collaborating since day one and doing invaluable team work for PureSnax.
Metrospaces Purchase Agreement with Leandro Iglesias
In April 2017 Metrospaces Inc. acquired a 51% of the Etelix.com USA LLC from main shareholder Leandro Iglesias. Payment terms of that transaction were adjusted due to the RTO between Etelix and PureSnax. An important aspect to highlight from the transaction between Metrospaces and Leandro Iglesias, is the commitment of Mr. Iglesias to reinvest into PureSnax/Etelix, in the form of a capital infusion, $520,000 of the $1,710,000 he would receive from Metrospaces, as a sign of confidence in the business plan of the company. As far as this reinvestment of $520,000 in been accomplished, we will inform PureSnax's shareholders of the capital increase of the company.
The details of this transaction between Metrospaces and Mr. Iglesias can be found in the 8-K published on June 29th, 2018; Exhibit 2.1 Membership Interest Purchase Agreement (Exhibit B: Purchase Stock Purchase Agreement, Convertible Promissory Note, Stock Pledge Agreement).
Metrospaces recently announced a dividend that will be pay to their shareholders with shares of PureSnax. The shares affected by this dividend are those forming part of the current Metrospaces´ shares on PureSnax; and will be manage by Metrospaces at the best interest of Metrospaces and in the benefit of Metrospaces´ shareholders.
As stated in this letter, Metrospaces and Etelix will continue to work together as a team for the best benefit of PureSnax.
PureSnax New Description and Name after the RTO
PureSnax will turn into a Technology and Telecommunications holding company offering services in the International Long-Distance market for Telecommunications Operators, and in the Submarine Cable Networks business (4G and 5G). PureSnax will pursue the development of long-distance services for end users and corporate segment; Mobile Virtual Network Operator (MVNO), 5G Internet, Internet of Things (IoT) solutions, Data Center facilities, Blockchain for Telecommunications Applications, and Mobile APPs.
The name and identity of the company will be adapted to its new business area.
Contact and Informative Policy
At PureSnax/Etelix, our more than 30 employees are systematically working every day to create value to our shareholders; obviously there will not be news every day; but be assured that every day we are working for you.
We will use Twitter @Etelix to inform and reinforce institutional messages that we desire to be delivered to our shareholders and related parties.
All important explanations and information will be delivered through Press Releases and Shareholder Letters.
The e-mail address to attend our shareholders is investors@etelix.com.
Every day we will check out our Twitter and e-mails, listening our shareholders, taking note of your questions, comments, concerns or suggestions; to be able to answer them in the most appropriate way.
Final Message
I do not want to finish this first letter without expressing our greatest gratitude for your interest in our company. This interest heightens our commitment to continue working day by day, as we are already doing, to turn PureSnax/ Etelix into a company that all shareholders feel proud of, as we are, of what we have achieved at Etelix.
Sincerely,
Leandro Iglesias
President/CEO PureSnax/Etelix
About PureSnax International Inc:
PureSnax International Inc., (OTC: PSNXD) www.puresnaxworldwide.com is a wellness brand focused on bringing healthy snacks and foods to consumers. PSI offers a wide assortment of sugar free, peanut free, Kosher, low fat, low sodium and Non GMO certified products. With the tough new nutritional standards being rolled out through schools in the United States, we are poised to capitalize on these regulations by offering good for you, functional foods and snacks that meet these new regulatory standards.
About Etelix.com USA, LLC:
Etelix.com USA LLC www.etelix.com is wholly owned subsidiary of Puresnax International Inc.
Etelix is an International Telecommunications Operator 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 2008 and has been profitable since inception.
About Metrospaces:
Metrospaces Inc. (OTC: MSPC) 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 in the US. The company's current projects are located in Miami, and Mendoza, Argentina.
Six years ago Metrospaces shareholders saw a unique opportunity to participate in several exciting property markets around the world. Through their worldwide 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.
Safe Harbor Statement: 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 Puresnax International Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.