Metrospaces, Inc. in a Joint Venture Agreement with DLBCC Group acquired Licensed Cannabis Facility in California.
December 26, 2019
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Metrospaces, Inc. (OTCPK:MSPC) in a Joint Venture Agreement with DLBCC Group acquired Licensed Cannabis Facility in California on December 26, 2018. 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 acquisition also includes a non-operating retail operation. LBCC Group has executed a Property Purchase Agreement with the seller and is set to close in approximately 90 days.
Metrospaces, Inc. (OTCPK:MSPC) in a Joint Venture Agreement with DLBCC Group completed the acquisition of Licensed Cannabis Facility in California on December 26, 2019.
Metrospaces, Inc. is a property technology company. The Company is focused on increasing efficiencies in the real estate and real estate market by applying cutting-edge information technology (IT) solutions. The Company offers two services MetroHouse and MetroCrowd. Its MetroHouse, LLC is a property management company. MetroHouse, LLC is focused on developing co-living spaces in secondary cities and digital nomad destinations. MetroHouse, LLCâs service includes furnished units with private rooms, including amenities, such as lockable storage and desks; artificial intelligence (AI)-based tenant vetting and shared spaces for tenant socialization. MetroCrowd is engaged in real estate markets through the use of blockchain and AI technology. The Companyâs subsidiaries include Metro Houston Partners 1, LLC, Metro House, Inc., Metro House, LLC and Metro Spaces LLC.