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Metrospaces Issues Mid-2015 Shareholder Letter

MIAMI, FL / ACCESSWIRE / September 11, 2015 / Metrospaces, Inc. (OTC: MSPC) Today issued a letter to shareholders explaining current state of projects.

LETTER TO OUR SHAREHOLDERS

To Metrospaces Inc. Shareholders:

2015 has been a turning year for us. In the first half of the year, Metrospaces, has turned into a revenue-generating company, mostly due to the wholesale of grapes and wines from its Ikal Lodge and Winery project. Even though the revenue generated so far is only a fraction of what we expect from our real estate project, it has been meaningful since it has been very helpful in efforts to finance company operations. Our laser-focused attention on our current projects has been paying off since we have been advancing very favorably in the planning approval of four 2 hotel projects in Venezuela. Additionally, we are now in a position to look to acquire new hotel projects (both projects and operating hotels). We expect to make at least 1-2 more hotel acquisitions before the end of 2015.

Daniel Silvas management expertise has been visible since day one, being the thrust behind obtaining planning approval for our projects, and also in the pre-development stage and grape operation at Ikal. Additionally, we are very happy with our fund raising process so far with Optimize Capital. Even though funding has not closed with any investor up to date, we are in advanced conversations with a few groups, and expect to close on the funding in the next 2-3 months. Total funding for this campaign is $10 million. With these resources, we would be a position to fully complete the Ikal Lodge and Winery project, as well as acquire another 2 projects we are currently negotiating. Certainly, with this funding we have access to quite a few possibilities.

We look forward to a very successful 2015!

Sincerely,

Metrospaces Senior Management

In continuation, here is an update on our projects:

Orinoco Oil Belt Hotel: This is the company's first entrepreneurial hotel project. Metrospaces acquired originally acquired a 1/3 interest in this hotel project, however is currently negotiating with partners to increase our stake 66%. The project received approval from the Ministry of Tourism, so planning approval and financing are well on track. Currently, the project has been introduced to the City Council and expect complete planning approval within 30 days. At that point, we will be approaching 3 of the mayor local banks for total funding. We expect to begin construction in 4Q of 2015. The hotel is a 122-room 4 star business hotel. The hotel looks to take advantage of the vast lack of hotel infrastructure in the Orinoco Oil Belt formation. Here is a link to a presentation: