NEW YORK, NY--(Marketwired - Apr 25, 2017) - Metrospaces, Inc. (
Mr. Silva, Metrospaces CEO, stated: "This past week we finished our 2017 harvesting of one of our finest grapes since I have been involved in this vineyard back in 2007. Even though total production was approximately 300,000 Kgs., a 12%, overall drop vs. 2016, revenue will increase by close to 20%. Bad weather not just made for a better quality grape, it also pushed prices up approximately 20% on average. We expect total revenue, after certain adjustments to be $320,000-$350,000 with an operating margin of approximately 35%. That would make it the most economically successful harvest in Ikal's history. We kept approximately 20% of the grape for our own production of Premium Wines. In fact, we recently bottled and prepared the 2016 Chardonnay which is now ready for export, as is the 2015 Pinot Noir. This year we will be unveiling our first truly Premium Wine which will be solely exported to the US at a much higher price point than our current production, sold in the $28-$30 retail in the US and Mexico. The rest of production has been sold to Bodegas del Tupun (a very important Argentinean wine producer) and Pernod Ricard (world-class winemaker owner of Chandon and others). Even though the main business of Ikal Lodge and Wine is the real estate development of a hotel and luxury villas, having a great wine product certainly helps in creating brand awareness for our real estate project, as well as an unexpected successful wine/grape business. The wholesale and wine business has been a surprise for the Company. We always expected the vineyard to operate at a loss or break even, at best. As it turns out, it's a profit center."
Lastly, the company takes the opportunity to correct a typo in press release issued on April 19, 2017. The extension of the No-Reverse Stock Split Board decision is extended until April 17 th , 2018, not until April 17 th , 2017.
See: www.ikal1150.com
For a link to the "IKAL LODGE AND WINERY" project: https://goo.gl/vA6ObS
About Metrospaces
Metrospaces 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 Latin America. The company's current projects are located in Buenos Aires, Argentina, and Caracas, Venezuela. It is operated by an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the America's and across Europe valued in excess of US $450Million.
Six years ago Metrospaces shareholders saw a unique opportunity to participate in several exciting property markets around the world. Through their world-wide 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.
Metrospaces is a boutique real estate development company, a product of the alliance of Metrospaces shareholders, along with an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the Americas and across Europe valued in excess of US $450Million.
Metrospaces' majority shareholders has partnered with Investors on Elite properties including The London BLVGARI 5 Star Hotel, and is currently involved in negotiations for the development of several Elite luxury properties in South America.
Among Metrospace partners are Architects, Real Estate Developers, Agents and Attorneys of the highest standing, with extensive experience in the global property market.
Metrospaces was originally founded by company CF Oscar Brito, and co-founded by Daniel Silva.
About Ikal Lodge and Winery:
Ikal Lodge and Winery is a 75 hectare wine-based vacation home/hospitality real estate project. The architectural project consists of a 25-master suite luxury hotel, a winery and 29 luxury villas that will be sold under fractional ownership. Ikal currently sells its award-winning wines in Spain, Mexico and the US. See: www.ikal1150.com .
Relevant Links: http://metrospaces.net/
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.
Company Contact: Metrospaces, Inc. Tel: 305-600-0407 Investor Relations: investors@metrospaces.net
