NEW YORK, NY, Dec. 10, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Metrospaces, Inc. (OTC PINK: MSPC) today announces a management decision to focus capital resources to its Cannabis-related real estate Company, CannPartners.
Mr. Oscar Brito, Company Executive President, said: “The continuing legalization of medical and recreational cannabis growing and distribution will continue in the US for the foreseeable future. Many investors are focusing on the grow, distribution and ancillary industries such as paraphernalia etc. However, even with the billions of dollars currently being invested in the cannabis industry, there are very few institutional investors solely focusing on the cannabis-related real estate side of the business. In our opinion, this represents a once-in-a-generation opportunity to buy distressed and real estate located in out-of-favor locations across the U.S. Because the grow side of the business and even retail side, don’t require prime, expensive locations, excellent acquisition and repositioning opportunities are showing up in certain markets. However, these assets, once in operations can generate prime-like real estate revenue. This represents an ideal investment scenario in real estate. With our many years of combined real estate investment experience, we feel our Company is uniquely positioned to take advantage of this nascent market.”
The IQST (OTC: IQST) strategy has afforded us the experience to buy into real estate related operations, infuse capital and acquisition opportunities, that later generate excess ROIs. By individually listing IQSTel public via a merger, we now have generated capital that can be invested in other industries. Even though we intend to be long-term investors in IQSTel, we foresee the opportunity to leverage our position through the public markets, so we can fund new investment strategies. We expect the cannabis-related real estate industry to be a big focus in the coming weeks and months for the Company.
The Company is currently looking at 2 properties, one in Connecticut and one in California. Additionally, we are keeping a strong focus on the NY market, since expectation is high that this will be one of the next states to legalize recreational cannabis. We are in advanced talks for an acquisition of those properties. The property being discussed would provide the opportunity to establish a grow and retail operation. The Company will look to partner and or JV with experienced operators and simply focus on the real estate side of the business. Additionally, we will be launching 2 cannabis real estate apps and web sites in the next 3 weeks, approximately.
Metrospaces was originally founded by company President Oscar Brito.
Relevant Links:
http://www.iqstel.com
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 Metrospaces Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.