$$ PGEI $$ Check this out :
AS- 1.5B OS 300M, $.0052 great shape!!!!
Tweet from PGEI message board dated 5/24/16:
2016-05-24 11:21:30 The company has signed a term sheet with an US investment fund for a long term funding of up to 5 million US in the form of a non-toxic equity line of credit. We are at present negotiating the terms of the definitive agreement. This funding will give us the ability to both speed up our business involvement in Baja California, as well as increase our ability for further business activities here in the US. FUNDING
www.pgproinc.com/
Non-toxic financing / low interest rates!!
What's going on in Baja California? Check this out:
ProGreen Executes New Joint Venture Agreement With Inmobiliaria Contel
BLOOMFIELD TOWNSHIP, MI--(Marketwired - May 17, 2016) - ProGreen Properties, Inc. (PROGREEN) (OTC PINK: PGEI) is pleased to announce that a second Joint Venture agreement between PROGREEN and Inmobiliaria Contel, S.R.L. DE C.V. (CONTEL), was signed last week in Ensenada, Baja California, with PROGREEN providing the funding of up to $600,000, which will be considered a loan and will be repaid with priority. Once the investment has been recuperated, PROGREEN will receive 50% of profits produced either from the sale or lease of the land. The first JV, was announced in February, for approximately 300 acres with some 100 acres suitable for farming. The second JV agreement, represents a considerably larger tract of land, totaling approx. 1,900 acres, with some 500-800 acres suitable for farming, depending on the amount of water that could be extracted through the drilling of fresh water wells.
The second JV agreement also contains a 3-year option for additional 11,500 acres, with some 1,000-2,500 acres suitable for farming, again depending on the amount of water available. We estimate the development process to involve drilling 8-10 wells for the 1,900 acres and perhaps as many as 50 for the 11,500.
In order to ensure uninterrupted water exploration, CONTEL recently entered into a long term agreement with a local water drilling company.
"This new JV agreement provides an incredible long term opportunity for PROGREEN to create a substantial and sustainable income stream in the years to come," says Jan Telander, President & CEO.
PGEI is currently free of TOXIC NOTES and apparently looking to keep it that way.
$$ PGEI $$
