Business
iQSTEL Announces the Return of 5,144,123 Shares in Conjunction With the Resignation of Mr. Oscar Brito from the Board of Directors
NEW YORK, NY, March 04, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- iQSTEL Inc. (OTC: IQST) today announced that Mr. Oscar Brito, CFO of Metrospaces, Inc.,
About this update from Iqstel Inc.
[{"type":"text","content":"NEW YORK, NY, March 04, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- iQSTEL Inc. (OTC: IQST) today announced that Mr. Oscar Brito, CFO of Metrospaces, Inc., will resign from the Board of Directors, effective immediately, to pursue other personal interests.\n As part of the resignation agreement, Metrospaces, Inc. will return 5.1M shares. Metrospaces will keep 992k shares that are under a lock up and subsequent leak out agreement. Additionally, Metrospaces will have the right to purchase up to 1.25M shares over the next 24 months, at $2 per share. Mr. Iglesias, the iQSTEL’s CEO, stated: “iQSTEL wishes to thank Mr. Brito for the invaluable service he has provided to the Company, helping us reach many milestones, including numerous funding and M&A efforts. While Mr. Brito will continue to provide us with guidance on an as needed basis, we wish him all the best success as he dedicates his day-to-day activity to Metrospaces.” “With our goal of an up-list to a national market, such as NASDAQ, we are forming a search committee to find a replacement board member with expertise in the up-listing process and provide long-term institutional investor introductions,” concluded Mr. Iglesias. About iQSTEL Inc.: iQSTEL (OTC: IQST) www.iQSTEL.com is a technology company offering a wide array of services to the Telecommunications Industry. These include services to International Long-Distance Telecommunications Operators (ILD Wholesale), Retail and Corporate markets (ILD Retail), Submarine Fiber Optic Network capacity, Satellite Communications services, Mobile Virtual Network Operator (MVNO) services, Internet of Things (IoT) technology solutions, Data Center facilities capacity leasing, and Blockchain solutions for the Telecommunications industry. About Etelix.com USA, LLC: Etelix.com USA LLC www.etelix.com is wholly owned subsidiary of iQSTEL Inc. Etelix.com USA, LLC is a Miami, Florida-based international telecom carrier founded in 2008 that provides telecom and technology solutions worldwide, with commercial presence in North America, Latin America, and Europe. Enabled by its 214-license granted by the Federal Communications Commission (FCC), Etelix provides International Long-Distance voice services for Telecommunications Operators (ILD Wholesale), and Submarine Fiber Optic Network capacity for internet (4G and 5G). Etelix was founded in 200...