Spotlight Growth
No Result
View All Result
Friday, February 3, 2023
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
No Result
View All Result
No Result
View All Result
Home Cannabis

Metrospaces, Inc. (OTC Pink: MSPC) Soars 125% After Announcing JV Agreement for Cannabis Facility with $7.2 Million in Revenue

by admin
December 26, 2018
in Cannabis
0
Metrospaces OTC Pink MSPC JV Agreement Profitable Cannabis Company OTC Markets News

Metrospaces OTC Pink MSPC JV Agreement Profitable Cannabis Company OTC Markets News

Metrospaces, Inc. (OTC Pink: MSPC) operates as a real estate investment company. Shares surged 125% on Wednesday, December 26, 2018. Over the past month, Metrospaces has seen an average daily volume of 70.68 million shares. However, on Wednesday, 1.29 billion shares traded hands, equating to $582,700 in dollar volume.

Shares jumped Wednesday after Metrospaces announced it has entered into a JV Agreement with DLBCC Group to acquire and operate a cannabis facility, which is generating $7.2 million in annual revenue. Metrospaces has agreed to pay $20 million in equity in return for a 75% ownership stake. The 12,000 ft² canopy facility is licensed to cultivate, manufacture, and distribute 300 lbs of cannabis per month. In addition, the acquisition also includes an 8,000 ft² canopy that is already licensed for production but is not yet built. Oscar Brito, President of Metrospaces, commented, “This acquisition would introduce us in the cannabis industry through the front door. It’s a very neatly run operation, with substantial upside potential. We think it’s the perfect operation for us to focus after our very positive experience in IQSTel (OTC: IQST).” Here is the full press release detailing the JV Agreement and cannabis facility:

Metrospaces, Inc. Press Release:

NEW YORK, NY, Dec. 26, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – Metrospaces, Inc. (OTC: MSPC) announces the execution with DLBCC Group to acquire profitable cannabis facility and operate under JV Agreement.

Mr. Oscar Brito, Company Executive President, said: “Approximately in May of 2018, the Company took a management decision to focus its resources and business plan towards the legalized cannabis industry. Our business plan is to leverage our extensive experience in real estate financing and development to establish JV partnerships to acquire and operate facility or real estate-based cannabis operations. We don’t have the industry expertise to operate a cannabis facility, but we do have extensive experience in construction, acquisition development, financing and repositioning of real estate assets.  We are very excited to establish this JV LOI agreement with LBCC Group to acquire, operate and grow this facility. LBCC Group has executed a Property Purchase Agreement with the seller and is set to close in approximately 90 days. A final JV agreement and Purchase Agreement is contingent on transfer of license and senior acquisition funding. Metrospaces would provide the equity portion of the acquisition, agreed at $20 million. Metrospaces would retain 75% of the business initially, but LBCC Group can gain an additional 10% equity stake based on achievement of certain financial goals.

“The facility is located in the city of Adelanto, California and consists of a 12,000 ft2 canopy facility licensed for cultivation, manufacture, and distribution of approximately 300 lbs. of monthly cannabis production. This production currently generates approximately $7.2 million in annual revenue with an operating profit of approximately $4.5 million per year.  Additionally, the site is set on a 6.5 acres site which allows to build another (already licensed) 8,000 ft2 canopy. The acquisition also includes a non-operating retail operation.

“This acquisition would introduce us in the cannabis industry through the front door. It’s a very neatly run operation, with substantial upside potential. We think it’s the perfect operation for us to focus after our very positive experience in IQSTel (OTC: IQST).”

Metrospaces was originally founded by company President Oscar Brito.

Relevant Links:
http://metrospaces.com/
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.

Article By: Andrew Rego

Tags: acquisitionCaliforniacannabiscannabis productioncommon stockemerging growthinvestinginvestmentmarijuana stocksmedical cannabismedical marijuanaMergermicrocap stocksMJMJ newsnewsotc marketsotc stockspot stockspublic companysalesservicessmall cap companiessmall cap stockssmall capsSpotlight GrowthSpotlight Growth Stocksstock marketstockstrading
  • Trending
  • Comments
  • Latest
Asure Software NASDAQ ASUR Human Capital Management HCM Industry Spotlight Growth

Asure Software (NASDAQ: ASUR) is Expanding to Meet the Rising Demand for Human Capital Management Software

September 27, 2022
OLB Group NASDAQ OLB Cuentas NASDAQ CUEN Partnership Fintech Spotlight Growth

OLB Group (NASDAQ: OLB) and Cuentas (NASDAQ: CUEN) Team Up to Bring Fintech Solutions to Over 32,000 Bodegas Across the United States

October 6, 2022
Siyata Mobile NASDAQ SYTA SYTAW SD7 VK7 Purchase Orders Spotlight Growth

New Purchase Orders for SD7 Rugged Device, VK7, and Other Accessories Boost Siyata Mobile’s Outlook (NASDAQ: SYTA)

December 14, 2021
Telcoin TEL Crypto Spotlight Growth

Telcoin (TEL) Quietly Leads a Crypto Remittance Revolution

June 15, 2021
Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

0
Safe-T SFET NASDAQ UN Presentation

Safe-T (NASDAQ: SFET) Has Been Selected to Present at the United Nations’ Office of Information and Communications Technology Event

0
Safe-T Group SFET Q4 FY 2020 Financial Results

Safe-T Group (NASDAQ: SFET) Reports Fourth Quarter and Full Year 2020 Financial Results

0
Safe-T Group NASDAQ SFET FY 2020 Prelim

Safe-T Group Ltd. (NASDAQ: SFET) Estimates Record-High Annual Revenues of Approximately $4.9 Million Representing ~50% Growth YoY 2020

0
Elys Game Technology Corp NASDAQ ELYS Completes Acquisition of Engage IT Services Spotlight Growth

Elys Game Technology Corp (NASDAQ: ELYS) Completes Acquisition of Engage IT Services, a Software Engineering and IT Development Company

February 2, 2023
Tenax Therapeutics NASDAQ TENX US Patent Levosimendan PH-HFpEF Spotlight Growth

Tenax Therapeutics (NASDAQ: TENX) Granted U.S. Patent for IV Levosimendan for Pulmonary Hypertension with Heart Failure and Preserved Ejection Fraction (PH-HFpEF)

February 2, 2023
Versus Systems NASDAQ VS Resolve Debt Partner AI Gamification Consumer Debt Spotlight Growth

Versus Systems (NASDAQ: VS) and Resolve Debt Partner to Integrated Generative AI and Gamification to Customer Payments and Credit Markets

February 1, 2023
Finding the Most Accurate Technical Analysis Indicator Spotlight Growth

Finding the Most Accurate Technical Analysis Indicator

January 31, 2023
ADVERTISEMENT

Recent News

Elys Game Technology Corp NASDAQ ELYS Completes Acquisition of Engage IT Services Spotlight Growth

Elys Game Technology Corp (NASDAQ: ELYS) Completes Acquisition of Engage IT Services, a Software Engineering and IT Development Company

February 2, 2023
Tenax Therapeutics NASDAQ TENX US Patent Levosimendan PH-HFpEF Spotlight Growth

Tenax Therapeutics (NASDAQ: TENX) Granted U.S. Patent for IV Levosimendan for Pulmonary Hypertension with Heart Failure and Preserved Ejection Fraction (PH-HFpEF)

February 2, 2023

Categories

  • Bio/Med/Pharma
  • Cannabis
  • Commodities
  • Consumer Goods
  • Crowdfunding
  • Crypto Cheat Sheets
  • Cryptocurrency
  • Earnings
  • Education
  • Entertainment
  • Financials
  • Market News
  • Opinion
  • Politics
  • Real Estate
  • Split Watch
  • Sponsored
  • Store
  • Technology
  • Uncategorized
  • Venture Capital/Private Equity (VC/PE)

Site Navigation

  • Disclosures
  • Terms Of Service
  • Privacy Policy
  • Contact Us

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

No Result
View All Result
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

Newsletter Signup

Subscribe to our weekly newsletter below and never miss the latest small/micro-cap analysis and investment news from Spotlight Growth.

Enter your email address

Thanks, I’m not interested