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Monday, August 07, 2017 12:10:28 AM
PGUS DD
** NEWS OUT 8/2*** RESERVATION #2 RELEASED.. 50 LOTS!
http://ih.advfn.com/p.php?pid=nmona&article=75354336&symbol=PGUS
OTCMARKETS... PGUS NEWS - PROFILE - INSIDER TRANSACTIONS:
http://www.otcmarkets.com/stock/PGUS/news
http://www.otcmarkets.com/stock/PGUS/profile
http://www.otcmarkets.com/stock/PGUS/insider-transactions
CEO INTERVIEW
https://www.youtube.com/watch?v=TlGksXNWBhg
INVESTOR PAGE FROM WEBSITE
http://www.progreenus.com/investors.html
WEBSITE FOR 5000 ACRE - 7000 UNIT DEVELOPMENT RESERVATIONS JUST NOW UNDERWAY
https://www.cielomarbaja.com/first-reservation-offer/
About ProGreen US, Inc. & CEO Jan Telander ProGreen US, Inc.
(ProGreen), (OTCQB: PGUS), www.ProGreenUS.com, @ProGreenUS, is a US company engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its majorityowned Mexican subsidiary Procon Baja JV (Procon). Until 2016, the company was called ProGreen Properties, Inc., and was engaged in the business of acquiring, refurbishing and upgrading residential real estate into modern affordable homes, some being aimed at the local real estate market and some sold to European Property Investors. The company's name was changed effective July 22, 2016 to ProGreen US, Inc., "…to better reflect the expansion of the company's business activities going forward, investment in agriculture land in Baja California, further planning for residential and commercial real estate developments in the area, with integration of advanced solar technology." The ticker symbol was also changed, from PGEI to PGUS. Prior to ProGreen, Jan had been a property developer in Spain for nearly 40 years, had built several developments with his brother, Ulf, having built and sold over 500 properties. Jan was also a founder of the Swedish solar products manufacturer, SolTech Energy Sweden AB (SOLT:FN Stockholm).
Agriculture – Business Unit Joint venture (JV) agreements between ProGreen and Contel provide for Contel to contribute the land to the joint venture, as well as handling all planning, permits, preparation and construction, in order for the property to be worked, leased or sold as prime farm land. ProGreen is responsible for providing the financing. ProGreen receives with priority the return of the financed amount, from all revenue received, after which the profits are split equally between the two parties. Through the JV agreements with Contel, ProGreen controls nearly 14,000 acres of agricultural land in Baja, including 2,200 acres plus a 3-year option on the remaining 11,500 acres. Of the total agricultural land, ProGreen expects between 4,000 to 5,000 acres may be suitable for farming, depending on the availability of water. Some of the large remainder of the land – which could be 9,000 to 10,000 acres – will potentially be used for commercial and residential real estate in direct support of the farming operations and for the local economy and industry that may develop over time as a result of these operations. Four wells have been drilled on the first tract, producing an abundance of water. Contel has begun their growing operation with a first produce purchase agreement for $1.1M - $1.3M for red chile peppers - from Agricola El Consuela, an exporter/importer to the U.S. market – which is being grown on the first 100 acres. The profit margin on this first crop is expected to be in the range of 55-60%. ProGreen has stated goals for Contel to increase the growing operation to 400 acres in 2018, 800 acres in 2019, and 1,200 acres in 2020.
Real Estate – Business Unit ProGreen's Mexican subsidiary, Procon, has purchased a tract of land near the town of El Rosario in Baja that covers a total area of approximately 5,000 acres with 4.7 miles of oceanfront. A Master Plan is being created for a very large resort-type retirement and vacation community called "Cielo Mar" that will cover all of this land. Translated into English, Cielo means "heaven" and Mar means "sea." The Cielo Mar planned community will be "heaven by the sea." The first phase of the development of the master plan is underway, and… Cielo Mar – The Community Cielo Mar will be a totally green, all-solar gated community, and will likely include the following, (which can be confirmed only when the master plan is completed): • Single Family Residences – est. 7,000 lots • Condominium Developments, Several – est. 3,000 units • Hotels, several – est. 3,000 rooms • Marina - for leisure craft • Golf Courses – 3 expected • Sports & Tennis Center • Bike, Hiking & Walking Trails • Green Areas & Parks • Museum • Equestrian Center • Beach Club • Commercial Center • Fiber Optic High Speed Internet • Water Reservoirs • Sewage Plants Cielo Mar Initial Market Introduction Offer The general plan is to select an initial small part of the land which will be the first phase of the development, to be completed with all infrastructure, i.e. water, sewage, tarmacked roads, street lighting, etc. This first phase will then serve as a reference for the rest of the development. With this first phase, the initial market offering will be for accepting "reservations" on A (premium), B and C lots, for example, for early buyers to be able to make final selection of their property locations once the master plan has been completed. The offer for these early reservations will come under the most attractive terms, and will allow early buyers to have preference in the selection of sites. This offer is expected to be made available before the end of March (2017). Cielo Mar Website An initial website for the Cielo Mar community will soon be launched, where the public will be able to follow the progress of this planned community. The initial market introduction offer for reservations will be included on the site, when launched.
Management Team for Cielo Mar Development - Alejandro Espinoza Arroyo will be joining Procon as General Manager for the Cielo Mar development in April of this year. He is currently working as a consultant to Procon, overseeing the production of the topographical plan that is required for creating the Master Plan. Alejandro is an accomplished Civil Engineer who has managed 750 construction projects and 500 public tenders, covering a diverse range of development work for the Municipality of Ensenada, which takes up the majority of the state of Baja California. He was also the Plan Manager for Housing and Topography for all of the area within the municipalities of Tijuana, Tecate, and Rosarito Beaches for several years. In addition to his years of service as a large-scale Plan Manager and Project Manager, Alejandro is a well-known chronicler and historian of El Rosario, Baja California and the surrounding region. About Contel Jan Telander, President and CEO of ProGreen, has a partnership interest and participates in the management of Contel, which was formed in early 2016. Contel is a partnership between Jan and Flavio Contreras Espinoza, representing an extended family of Mexican land owners. The intent with Jan's interest in Contel was to provide a suitable entity with which to involve ProGreen for the development of properties in Baja. ProGreen cannot own agricultural properties under Mexican law, though Jan's partnership interest in Contel provides a level of control with final signing authority, per the partnership agreement. About Procon Baja JV Procon is ProGreen's joint venture subsidiary with Contel, and is owned by ProGreen (51%) and Contel (49%) jointly. The company is managed by a board of Managing Directors consisting of three members, two representing ProGreen and one representing Contel. At least two Managing Directors approval is needed for management decisions or major financial transactions, giving ProGreen full operational control. Procon is the holding company for the real estate land acquired for the Cielo Mar development. Business Development Timeline The Baja California, Mexico Map Image to the left shows the key location references for the Business Development Timeline below. The planned community, Cielo Mar, and the agricultural land controlled by the company are in relatively close proximity to El Rosario, approximately 150 miles south of Ensenada. The first ProGreen Farm, Arenoso, is on the main road called the Transpeninsular Highway, Highway 1. The Business Development Timeline below shows from the bottom starting in 2015 how both the Real Estate and the Agricultural business segments have developed until now, and looking forward. The Baja projects began with early investigation and due diligence into an opportunity presented by Mexican land owners with whom the company made contact, regarding options for monetizing their land.
Business Development Timeline Projects Press Releases
March 6, 2017 Agriculture Operation Launches "ProGreen Farms" Brand http://www.newmediawire.com/news/agriculture-operation-launches-progreen-farms-brand-4598656
January 23, 2017 Contel Signs Million Dollar Produce Agreement http://www.newmediawire.com/news/contel-signs-million-dollar-produce-agreement-4462364
February 02, 2017 ProGreen's Subsidiary Procon Acquires 5,100 Acres of Ocean Front Land in Baja http://www.newmediawire.com/news/progreen-s-subsidiary-procon-acquires-5-100-acres-of-ocean-front-landin-baja-4495168
Business / Finance Press Releases
February 22, 2017 ProGreen CEO Provides a Second $250,000 Bridge Financing to the Company http://www.newmediawire.com/news/progreen-ceo-provides-a-second-250-000-bridge-financing-to-thecompany-4560474
February 1, 2017 $5 Million Equity Line Declared Effective http://www.newmediawire.com/news/5-million-equity-line-declared-effective-4492314
December 7, 2016 ProGreen Reduces Authorized Shares of Common Stock http://www.newmediawire.com/news/progreen-reduces-authorized-shares-of-common-stock-4315129
November 22, 2016 ProGreen Gets Further Funding From the CEO http://www.newmediawire.com/news/progreen-gets-further-funding-from-the-ceo-4247819
September 14, 2016 – ProGreen Uplists to OTCQB http://www.newmediawire.com/news/progreen-uplists-to-otcqb-3949855
July 21, 2016 – ProGreen Properties, Inc. Changes Its Name to ProGreen US, Inc. http://www.newmediawire.com/news/progreen-properties-inc-changes-its-name-to-progreen-us-inc-3739149
CieloMar Website New Form 4s and Debt Reduction
CEO stated on CC that debt WILL NOT CONVERT will be paid off in cash Hoppel note and AMREFA.
CEO Tweeted 4-4-2017
In response to enquiries in relation to recent bridge financing, we want to confirm our clear intentions to pay off all notes in cash...to pay off all notes in cash from proceeds resulting from this year's harvest of chili peppers, estimated to $1.1-$1.3 million.
http://www.marketwired.com/press-release/progreen-negotiates-buyback-of-preferred-shares-otcqb-pgus-2203928.htm
http://www.marketwired.com/press-release/progreen-pays-off-convertible-note-in-cash-otcqb-pgus-2203715.htm
http://www.marketwired.com/press-release/progreen-announces-transfer-of-deed-and-acquisition-terms-for-oceanfront-land-otcqb-pgus-2203559.htm
www.CieloMarBaja.com
Expecting announcement of lot reservations on or before April 21st resulting in Large Cash Flow for Company…. (ALREADY DONE)
www.progreenus.com
April 3,2017 Blog Update
New photos and videos have been added to the agriculture project page. Many of the irrigation main pipes have now been buried, and above-ground stations are being installed. When all have been completed, the drip tubing will be added. Planting will be in 2 weeks. The company has received inquiries regarding the recent Form D filing (available on EDGAR and OTC Markets). The Form D is a compliance requirement related to the bridge financing discussed in our previous update on March 25. As noted in the March 25 blog post, our intention is to pay off all notes in cash.
The CieloMarBaja.com website was launched last week, including the posting of the pre-sales reservation offer. Though lot reservations are not yet being accepted, we are very pleased with the strong interest we have already received. Those interested in reserving lots are encouraged to sign up for updates and notifications on the site, and include a message regarding their interest in front line oceanfront and/or general lots.
OUR GOALS [Stated February 23, 2017]
ACRES OF PRODUCE GROWING OPERATIONS:
2017 - 100 acres *MET GOAL ALREADY
2018 - 400 Acres
Increase of 300% from 2017
2019 - 800 Acres
100% growth, up 700% from 2017
2020 - 1200 Acres
50% growth, up 1100% from 2017 1100%
We have set some goals, which at this time include only individual lots, and is as follows:
SALES / RESERVATIONS:
2017 - 25 lots ***MET AND WILL EXCEED IN '17***
2018 - 75 lots
2019 - 150 lots
2020 - 300 lots
- Valuations ranging from 0.12 to 0.31 (pps) in recent posts by DD-contributing board members. All valuations consider only ~1/3 of land currently under control for agricultural use. No value assigned to remaining 2/3 of this land which will likely contribute much more value at some point in the future.
- PLUS: cases shown in contributed DD for current and pending projects potentially leading to a $1 PPS valuation in the foreseeable future - possibly even within this calendar year. Additionally, blue sky potential for $2 PPS valuation if Contel (JV partner) growing operation is able to scale up rapidly enough to utilize up to 3,000-4,000 acres of additional land within 3 years.
Supply vs Demand - PGUS is still greatly undervalued, the free float is shrinking, and the great majority of what is left is being bought and held tight.
OTCQB Listed - As of 9/15/16
Share Structure and Ownership...
- A/S = 950m - REDUCTION BY 37% as of 11-07-16
- O/S = 349M
- Restricted = 103M
- CEO = 23.4M - Recent purchases, latest Form 4 filed 3/27//17
- Free Float = 223M - REDUCED, from recent CEO purchases
- CEO & Control Shareholders assumed debt and subscribed to preferred shares to inject funds, totalling ~$1M investment in February 2016.
- CEO is accumulating shares, buying up the float, purchased over 23M shares on open market in 2016-2017 - free float is shrinking.
- Free Float is being held tight and getting tighter: Many long investors holding strong positions, new long investors starting and building strong positions.
Upcoming events and status of recent business activities!!
ProGreen CEO Provides a Second $250,000 Bridge Financing to the Company
BLOOMFIELD, MI - (NewMediaWire) - February 22, 2017 - ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), www.ProGreenUS.com, @ProGreenUS, is a U.S. company engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its majority-owned Mexican subsidiary Procon Baja JV (Procon). ProGreen has signed a 5% Promissory Note with the company's CEO, Jan Telander, for a second credit line of up to $250,000.
The Cielo Mar Plan
GATED COMMUNITY, WITH ON-SITE SECURITY AND SECURITY CAMERAS THROUGHOUT THE DEVELOPMENT, MONITORED 24/7
TOTAL GREEN DEVELOPMENT
SOLAR POWER ONLY WITHOUT HOOKUP TO GRID
NOW STARTING WORKING ON MASTER PLAN – TOPOGRAPHIC PLAN
CHANGING LAND PERMISSION FROM RUSTIC TO DEVELOPMENT
We see the community, Cielo Mar, likely including:
7,000 SFR Lots
Several Condo developments with estimated 3,000 Units
Several Hotels with estimated 3,000 rooms total
A Marina for leisure Craft – Escalera Nautica
3 Golf Courses
Sport and Tennis Centers
Bike- Hiking- and Walking Trails
Green Areas and Parks
Museum
Equestrian Center
Beach Club
Commercial Center
Fiber optics for high speed internet- Carlos Slim installed line north to south along the transpeninsular highway
Water reservoirs
Sewage Plants
We are planning to start taking reservations for individual lots for the first phase even before the master plan is completed as there is already demand.
We will be offering initial buyers very favorable pricing as they will in effect be partners.
Details will be presented in the Cielo Mar website due to be launched soon
As far as the condos,hotels and golf courses, marina etc, we intend to attract outside property investors and developers
With the commercial properties, we have various alternatives but the most likely is to lease the properties and create residual income
Sale of individual SF lots, there will be:
A- lots, B-lots, C-lots, with A-lots starting at the oceanfront pricing will vary with front line lots at a premium
We will do a first phase of 50-100 lots which will serve as reference for the rest of the development
Here we will also offer very attractive deals for people that will build early
We intend to market Cielo Mar very aggressively
ProGreen's Subsidiary Procon Acquires 5,100 Acres of Ocean Front Land in Baja:
ProGreenUS is pleased to announce that our subsidiary, Procon Baja JV (Procon), has entered into a definitive purchase agreement for an ocean front tract of land situated near the town of El Rosario in Baja California. The land gently slopes towards the Pacific Ocean and covers a total area of 2,056 ha (5,100 acres) with 7,5 km (4.7 miles) of ocean front.
The land area is 233 ha (580 acres) larger than what was initially communicated on the company's website on December 21, 2016, as the land has been extended with a further 1.1 km (0.7 miles) oceanfront that initially was not included.
The architects will start working on a master plan, as soon as the land survey, currently in progress, has been completed, and an up to date plan of the land has been drawn.
We are presently in the process of building the management team for this development. Details on the members of this team will be published during the month of February. We will also initiate discussions with development partners once the initial development plans have been completed.
During February, we will also be launching a development website, where the public will be able to follow the progress of this planned community, from the very start.
"This real estate project will transform the future of ProGreen's involvement in Baja California. Having been a property developer for most of my life, I want to express that this development is the most exciting project that I have ever been involved with," said Jan Telander, President and CEO.
$5 Million Equity Line Declared Effective
(February 1, 2017)-The registration statement for the Equity Line financing with Tangiers, as announced on June 28, 2016, was declared effective today by the Securities & Exchange Commission (SEC). The Company has the option as to whether to use this financing, which would only be accessed when favorable for the Company and its stockholders.
Company Tweet:The company has no intention to draw on the Equity Line at levels anywhere near the present share price.
Contel Signs Million Dollar Produce Agreement:
ProGreenUS, is pleased to announce that the company's JV partner in Baja California, Mexico, Inmobiliaria Contel (CONTEL), signed an agreement with a major exporter of produce to the US. CONTEL will be growing red chilies on a 40 ha (100 acres) portion of the of the farmable 60 ha (150 acres) of the first tract of land under the JV with PROGREEN that was reported on previously. The buyer has committed $48,000 as up-front payment to secure the agreement.
The farming under this agreement, which is priced in US dollars, is estimated to yield 3,000-3,600 tons of produce with a value of $1.1 - 1.3 million and an estimated net margin of 55-60%. The JV agreement provides for 50/50 split of profits between PROGREEN and CONTEL. However, PROGREEN will first recover all of its investment in the operation prior to profits being distributed.
The produce will be harvested in 2-3 cuts, with the first expected for late June, and delivery will be to the buyer's packing plant in Ensenada, B.C.
CONTEL has intentionally chosen to limit this agreement to 40 ha giving the option to diversify production. The buyer has however announced serious interest in increasing the scope of future agreements for production of chilies to 100 ha (250 acres), to be able to meet demand.
"This is a big first step for CONTEL and PROGREEN under the JV partnership, as it solidifies an agreement with a major player as a first buyer. It also shows, in real terms, the enormous financial advantage, growing produce has to leasing the land, which would have resulted in an income of some $120,000/year for the whole land," says Jan Telander, President and CEO.
Progress Gets Further Funding From CEO
BLOOMFIELD HILLS, MI--(Marketwired - Nov 22, 2016) - ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), www.progreenus.com, has signed a 5% Promissory Note with the company's CEO, Jan Telander, for a credit line of up to $250,000. The Note is non-convertible and will be repaid within one year. As further incentive, up to 2,500,000 warrants with an exercise price of $0.05, will be issued as advances under the credit line are made.
This credit line provides a most favorable financing arrangement for ProGreen as we continue to execute our business plan, and until a later time that we would see it as an appropriate point to draw from the equity line financing under review by the SEC (see our current report on Form 8-K filing, June 27, 2016).
"My confidence in our business plan and strategy, and my commitment to the success of ProGreen, are my reasons for personally securing this bridge financing," says Jan Telander, President & CEO.
2Q 10-Q filed 12/20 - Clean balance sheet: slight increase in assets and profound decrease in liabilities; assets reflect sales of Michigan properties, Baja investment receivables; verified: share structure, assets, debt elimination! Good showing for new OTCQB investors.
1st Baja land tract
Contel has now established a channel to the US market that allows them to grow fresh produce directly for US importers. Leasing land for agricultural use can be very lucrative, but growing produce on the land offers significantly higher returns. We did not expect Contel to gain access to this point of operations so soon; however, this opportunity has been presented by 2 buyers with immediate demand.
Due to a new opportunity Contel is preparing operations for January seeding on the farmable 150-acre portion of the first tract of land, and the first harvest is expected for May/June 2017. Initially, a generator will provide the power needed for direct irrigation. Solar power will later replace the generator, and drip irrigation will be connected to a gravity reservoir, making the farm totally “green.” This will be the Flagship property in Baja with an abundance of water, and Solar powered water pumps making it completely green.
ProGreen controls an abundance of land with the options to increase the growing operation, leasing land, partnering with other growers, etc.
Leases $800-$1200 per acre per year
Growing on the land $3000-$8000 per acre per cycle varies by type of produce
This development is a great step forward, creating new and varied opportunities to accelerate growth.
Company blog updates
Oceanfront Land Purchase Details
02/03/17ProGreen and our JV partner, Contel, through our subsidiary Procon Baja JV (51% ProGreen US, 49% Contel) have acquired the oceanfront property as described in the 8K filing and yesterday’s press release. We have a binding, legal purchase agreement, and we now own the oceanfront land. A detailed plan of the property is being drawn at the present, which will be a part of the public deeds, to be signed within 60 days of the agreement, which is when the property will become registered in the public property registry in the name of Procon. Details of the purchase will be released thereafter.
We expect that this process should be completed by early March, but it may progress much faster. I must say that, due to the relationships that the company has developed and the resources that we’ve gained access to over the past year, our dealings in Baja have gone surprisingly smooth and generally faster than I originally expected.
01/15/2017 As mentioned earlier, the meeting with the Architect in Portland last week went very well and it is safe to say that they are almost as excited now as we are about this project. They are putting a team together including outside architects, in order to evaluate the best approach to the task of creating a Master plan for a project of this size.
The moment when we will be able to sign the definitive purchase agreement, is getting nearer as the DD is progressing better than anticipated. Early meeting already set for 01/16/2017 Monday morning, in order to go through the details that will form the basis for the documentation.
01/05/2017 We have extended the proposed land acquisition to now include approximately 4.0 M of ocean front (6,5 KM), compared to earlier announced 2.4 M.With our due diligence progressing faster than expected, we feel confident that we will be able to execute a purchase agreement this month, sooner than originally anticipated.
We are in the process of selecting a suitable US architect with whom to start working on the initial master plan.
Funding Growth & Operations…
- High quality PIPE financing to fund Baja and other projects - $5M equity line agreement: requires S-1 registration(DONE)/effect... which requires high-quality OTCQB listing status(DONE)
- Assets being monetized in Michigan
- First 300-acre land tract in Baja for growing operation
- Oceanfront land acquisition 4550 acres
Current Business & Valuation…
- PGUS is fully reporting (SEC) with audited financials
- Clean Balance Sheet! (Q2 10-Q report filed 12/20/16)
- ProGreen has gained control of large tracts of land in Baja California
- Joint Venture agreements, Contel
- Strategic business entity, ProCon with 51% majority gives ProGreen control and balance sheet assets
- Baja business agreements provide for return of all capital invested by ProGreen prior to the 50-50 distribution of profits from sales, leasing and/or land uses (e.g. growing)
- Valuations ranging from 0.12 to 0.31 in recent posts by DD-contributing board members
Long investors are looking forward to these important milestone events:
S-1 Registration filing: - DONE, S-1 FILED 8/31/16
10/26/16 Amended and reduced shares for same 5 million in financing (now based on average pps of 0.067)!!
S-1 EFFECTIVE:February 1, 2017,
Spoke with Jan about the 5 Million equity line and these are the responses I received
75M shares registered for total funding of $5 Million dollars, resulting in a MINIMUM average price of $0.067 -over max 36 months.
Primarily for the investment projects in Baja.
This is NOT a convertible debt instrument. With convertible note financing, issuer does not have control of timing or amount of conversion into common shares. After a convertible note becomes eligible for conversion, the holder of the note is in control of these things.
The equity line will work as a credit line with the company issuing put notices for drawdowns. The company is in control of the timing and the amount of the drawdowns, limited to maximum 10% of the market volume over the 10-day period prior to the put notice. No obligation to use the equity line, and the company can draw on the funding if/when it chooses over the 36 month period - whatever is best for the company and shareholders for building/growing the business.
They paid off the $22,000 convertible note that was issued for the legal/other fees in creating the equity line. Paid off in cash to avoid conversion to shares.
PGUS News: ProGreen's Subsidiary Procon Acquires 5,100 Acres of Ocean Front Land in Baja
BLOOMFIELD TOWNSHIP, MI--(NewMediaWire - Feb 2, 2017) - ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), www.ProGreenUS.com, Twitter @ProGreenUS, is pleased to announce that ProGreen's subsidiary, Procon Baja JV (Procon), has entered into a definitive purchase agreement for an ocean front tract of land situated near the town of El Rosario in Baja California. The land gently slopes towards the Pacific Ocean and covers a total area of 2,056 ha (5,100 acres) with 7,5 km (4.7 miles) of ocean front.
The land area is 233 ha (580 acres) larger than what was initially communicated on the company's website on December 21, 2016, as the land has been extended with a further 1.1 km (0.7 miles) oceanfront that initially was not included.
The architects will start working on a master plan, as soon as the land survey, currently in progress, has been completed, and an up to date plan of the land has been drawn.
We are presently in the process of building the management team for this development. Details on the members of this team will be published during the month of February. We will also initiate discussions with development partners once the initial development plans have been completed.
During February, we will also be launching a development website, where the public will be able to follow the progress of this planned community, from the very start.
"This real estate project will transform the future of ProGreen's involvement in Baja California. Having been a property developer for most of my life, I want to express that this development is the most exciting project that I have ever been involved with," said Jan Telander, President and CEO.
PGUS is a MAJOR GROWTH STORY..
Easy communication with management
Profits to begin in late 2017
Growing RAPIDLY
Increasing Revenue streams - FARMING - DEVELOPMENT
CEO Respects shareholders
HEAVY INSIDER BUYING ON THE OPEN MARKET!!
http://archive.fast-edgar.com//20170327/AB2T5G2CL222TZ22222Q2ZX26NO9Z222O292/
O/S ~349M
A/S 950M
Price is 40% off the 52 week high, and revs FROM farming will begin to roll in by late Q2/early Q3
INVEST WISELY
** NEWS OUT 8/2*** RESERVATION #2 RELEASED.. 50 LOTS!
http://ih.advfn.com/p.php?pid=nmona&article=75354336&symbol=PGUS
OTCMARKETS... PGUS NEWS - PROFILE - INSIDER TRANSACTIONS:
http://www.otcmarkets.com/stock/PGUS/news
http://www.otcmarkets.com/stock/PGUS/profile
http://www.otcmarkets.com/stock/PGUS/insider-transactions
CEO INTERVIEW
https://www.youtube.com/watch?v=TlGksXNWBhg
INVESTOR PAGE FROM WEBSITE
http://www.progreenus.com/investors.html
WEBSITE FOR 5000 ACRE - 7000 UNIT DEVELOPMENT RESERVATIONS JUST NOW UNDERWAY
https://www.cielomarbaja.com/first-reservation-offer/
About ProGreen US, Inc. & CEO Jan Telander ProGreen US, Inc.
(ProGreen), (OTCQB: PGUS), www.ProGreenUS.com, @ProGreenUS, is a US company engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its majorityowned Mexican subsidiary Procon Baja JV (Procon). Until 2016, the company was called ProGreen Properties, Inc., and was engaged in the business of acquiring, refurbishing and upgrading residential real estate into modern affordable homes, some being aimed at the local real estate market and some sold to European Property Investors. The company's name was changed effective July 22, 2016 to ProGreen US, Inc., "…to better reflect the expansion of the company's business activities going forward, investment in agriculture land in Baja California, further planning for residential and commercial real estate developments in the area, with integration of advanced solar technology." The ticker symbol was also changed, from PGEI to PGUS. Prior to ProGreen, Jan had been a property developer in Spain for nearly 40 years, had built several developments with his brother, Ulf, having built and sold over 500 properties. Jan was also a founder of the Swedish solar products manufacturer, SolTech Energy Sweden AB (SOLT:FN Stockholm).
Agriculture – Business Unit Joint venture (JV) agreements between ProGreen and Contel provide for Contel to contribute the land to the joint venture, as well as handling all planning, permits, preparation and construction, in order for the property to be worked, leased or sold as prime farm land. ProGreen is responsible for providing the financing. ProGreen receives with priority the return of the financed amount, from all revenue received, after which the profits are split equally between the two parties. Through the JV agreements with Contel, ProGreen controls nearly 14,000 acres of agricultural land in Baja, including 2,200 acres plus a 3-year option on the remaining 11,500 acres. Of the total agricultural land, ProGreen expects between 4,000 to 5,000 acres may be suitable for farming, depending on the availability of water. Some of the large remainder of the land – which could be 9,000 to 10,000 acres – will potentially be used for commercial and residential real estate in direct support of the farming operations and for the local economy and industry that may develop over time as a result of these operations. Four wells have been drilled on the first tract, producing an abundance of water. Contel has begun their growing operation with a first produce purchase agreement for $1.1M - $1.3M for red chile peppers - from Agricola El Consuela, an exporter/importer to the U.S. market – which is being grown on the first 100 acres. The profit margin on this first crop is expected to be in the range of 55-60%. ProGreen has stated goals for Contel to increase the growing operation to 400 acres in 2018, 800 acres in 2019, and 1,200 acres in 2020.
Real Estate – Business Unit ProGreen's Mexican subsidiary, Procon, has purchased a tract of land near the town of El Rosario in Baja that covers a total area of approximately 5,000 acres with 4.7 miles of oceanfront. A Master Plan is being created for a very large resort-type retirement and vacation community called "Cielo Mar" that will cover all of this land. Translated into English, Cielo means "heaven" and Mar means "sea." The Cielo Mar planned community will be "heaven by the sea." The first phase of the development of the master plan is underway, and… Cielo Mar – The Community Cielo Mar will be a totally green, all-solar gated community, and will likely include the following, (which can be confirmed only when the master plan is completed): • Single Family Residences – est. 7,000 lots • Condominium Developments, Several – est. 3,000 units • Hotels, several – est. 3,000 rooms • Marina - for leisure craft • Golf Courses – 3 expected • Sports & Tennis Center • Bike, Hiking & Walking Trails • Green Areas & Parks • Museum • Equestrian Center • Beach Club • Commercial Center • Fiber Optic High Speed Internet • Water Reservoirs • Sewage Plants Cielo Mar Initial Market Introduction Offer The general plan is to select an initial small part of the land which will be the first phase of the development, to be completed with all infrastructure, i.e. water, sewage, tarmacked roads, street lighting, etc. This first phase will then serve as a reference for the rest of the development. With this first phase, the initial market offering will be for accepting "reservations" on A (premium), B and C lots, for example, for early buyers to be able to make final selection of their property locations once the master plan has been completed. The offer for these early reservations will come under the most attractive terms, and will allow early buyers to have preference in the selection of sites. This offer is expected to be made available before the end of March (2017). Cielo Mar Website An initial website for the Cielo Mar community will soon be launched, where the public will be able to follow the progress of this planned community. The initial market introduction offer for reservations will be included on the site, when launched.
Management Team for Cielo Mar Development - Alejandro Espinoza Arroyo will be joining Procon as General Manager for the Cielo Mar development in April of this year. He is currently working as a consultant to Procon, overseeing the production of the topographical plan that is required for creating the Master Plan. Alejandro is an accomplished Civil Engineer who has managed 750 construction projects and 500 public tenders, covering a diverse range of development work for the Municipality of Ensenada, which takes up the majority of the state of Baja California. He was also the Plan Manager for Housing and Topography for all of the area within the municipalities of Tijuana, Tecate, and Rosarito Beaches for several years. In addition to his years of service as a large-scale Plan Manager and Project Manager, Alejandro is a well-known chronicler and historian of El Rosario, Baja California and the surrounding region. About Contel Jan Telander, President and CEO of ProGreen, has a partnership interest and participates in the management of Contel, which was formed in early 2016. Contel is a partnership between Jan and Flavio Contreras Espinoza, representing an extended family of Mexican land owners. The intent with Jan's interest in Contel was to provide a suitable entity with which to involve ProGreen for the development of properties in Baja. ProGreen cannot own agricultural properties under Mexican law, though Jan's partnership interest in Contel provides a level of control with final signing authority, per the partnership agreement. About Procon Baja JV Procon is ProGreen's joint venture subsidiary with Contel, and is owned by ProGreen (51%) and Contel (49%) jointly. The company is managed by a board of Managing Directors consisting of three members, two representing ProGreen and one representing Contel. At least two Managing Directors approval is needed for management decisions or major financial transactions, giving ProGreen full operational control. Procon is the holding company for the real estate land acquired for the Cielo Mar development. Business Development Timeline The Baja California, Mexico Map Image to the left shows the key location references for the Business Development Timeline below. The planned community, Cielo Mar, and the agricultural land controlled by the company are in relatively close proximity to El Rosario, approximately 150 miles south of Ensenada. The first ProGreen Farm, Arenoso, is on the main road called the Transpeninsular Highway, Highway 1. The Business Development Timeline below shows from the bottom starting in 2015 how both the Real Estate and the Agricultural business segments have developed until now, and looking forward. The Baja projects began with early investigation and due diligence into an opportunity presented by Mexican land owners with whom the company made contact, regarding options for monetizing their land.
Business Development Timeline Projects Press Releases
March 6, 2017 Agriculture Operation Launches "ProGreen Farms" Brand http://www.newmediawire.com/news/agriculture-operation-launches-progreen-farms-brand-4598656
January 23, 2017 Contel Signs Million Dollar Produce Agreement http://www.newmediawire.com/news/contel-signs-million-dollar-produce-agreement-4462364
February 02, 2017 ProGreen's Subsidiary Procon Acquires 5,100 Acres of Ocean Front Land in Baja http://www.newmediawire.com/news/progreen-s-subsidiary-procon-acquires-5-100-acres-of-ocean-front-landin-baja-4495168
Business / Finance Press Releases
February 22, 2017 ProGreen CEO Provides a Second $250,000 Bridge Financing to the Company http://www.newmediawire.com/news/progreen-ceo-provides-a-second-250-000-bridge-financing-to-thecompany-4560474
February 1, 2017 $5 Million Equity Line Declared Effective http://www.newmediawire.com/news/5-million-equity-line-declared-effective-4492314
December 7, 2016 ProGreen Reduces Authorized Shares of Common Stock http://www.newmediawire.com/news/progreen-reduces-authorized-shares-of-common-stock-4315129
November 22, 2016 ProGreen Gets Further Funding From the CEO http://www.newmediawire.com/news/progreen-gets-further-funding-from-the-ceo-4247819
September 14, 2016 – ProGreen Uplists to OTCQB http://www.newmediawire.com/news/progreen-uplists-to-otcqb-3949855
July 21, 2016 – ProGreen Properties, Inc. Changes Its Name to ProGreen US, Inc. http://www.newmediawire.com/news/progreen-properties-inc-changes-its-name-to-progreen-us-inc-3739149
CieloMar Website New Form 4s and Debt Reduction
CEO stated on CC that debt WILL NOT CONVERT will be paid off in cash Hoppel note and AMREFA.
CEO Tweeted 4-4-2017
In response to enquiries in relation to recent bridge financing, we want to confirm our clear intentions to pay off all notes in cash...to pay off all notes in cash from proceeds resulting from this year's harvest of chili peppers, estimated to $1.1-$1.3 million.
http://www.marketwired.com/press-release/progreen-negotiates-buyback-of-preferred-shares-otcqb-pgus-2203928.htm
http://www.marketwired.com/press-release/progreen-pays-off-convertible-note-in-cash-otcqb-pgus-2203715.htm
http://www.marketwired.com/press-release/progreen-announces-transfer-of-deed-and-acquisition-terms-for-oceanfront-land-otcqb-pgus-2203559.htm
www.CieloMarBaja.com
Expecting announcement of lot reservations on or before April 21st resulting in Large Cash Flow for Company…. (ALREADY DONE)
www.progreenus.com
April 3,2017 Blog Update
New photos and videos have been added to the agriculture project page. Many of the irrigation main pipes have now been buried, and above-ground stations are being installed. When all have been completed, the drip tubing will be added. Planting will be in 2 weeks. The company has received inquiries regarding the recent Form D filing (available on EDGAR and OTC Markets). The Form D is a compliance requirement related to the bridge financing discussed in our previous update on March 25. As noted in the March 25 blog post, our intention is to pay off all notes in cash.
The CieloMarBaja.com website was launched last week, including the posting of the pre-sales reservation offer. Though lot reservations are not yet being accepted, we are very pleased with the strong interest we have already received. Those interested in reserving lots are encouraged to sign up for updates and notifications on the site, and include a message regarding their interest in front line oceanfront and/or general lots.
OUR GOALS [Stated February 23, 2017]
ACRES OF PRODUCE GROWING OPERATIONS:
2017 - 100 acres *MET GOAL ALREADY
2018 - 400 Acres
Increase of 300% from 2017
2019 - 800 Acres
100% growth, up 700% from 2017
2020 - 1200 Acres
50% growth, up 1100% from 2017 1100%
We have set some goals, which at this time include only individual lots, and is as follows:
SALES / RESERVATIONS:
2017 - 25 lots ***MET AND WILL EXCEED IN '17***
2018 - 75 lots
2019 - 150 lots
2020 - 300 lots
- Valuations ranging from 0.12 to 0.31 (pps) in recent posts by DD-contributing board members. All valuations consider only ~1/3 of land currently under control for agricultural use. No value assigned to remaining 2/3 of this land which will likely contribute much more value at some point in the future.
- PLUS: cases shown in contributed DD for current and pending projects potentially leading to a $1 PPS valuation in the foreseeable future - possibly even within this calendar year. Additionally, blue sky potential for $2 PPS valuation if Contel (JV partner) growing operation is able to scale up rapidly enough to utilize up to 3,000-4,000 acres of additional land within 3 years.
Supply vs Demand - PGUS is still greatly undervalued, the free float is shrinking, and the great majority of what is left is being bought and held tight.
OTCQB Listed - As of 9/15/16
Share Structure and Ownership...
- A/S = 950m - REDUCTION BY 37% as of 11-07-16
- O/S = 349M
- Restricted = 103M
- CEO = 23.4M - Recent purchases, latest Form 4 filed 3/27//17
- Free Float = 223M - REDUCED, from recent CEO purchases
- CEO & Control Shareholders assumed debt and subscribed to preferred shares to inject funds, totalling ~$1M investment in February 2016.
- CEO is accumulating shares, buying up the float, purchased over 23M shares on open market in 2016-2017 - free float is shrinking.
- Free Float is being held tight and getting tighter: Many long investors holding strong positions, new long investors starting and building strong positions.
Upcoming events and status of recent business activities!!
ProGreen CEO Provides a Second $250,000 Bridge Financing to the Company
BLOOMFIELD, MI - (NewMediaWire) - February 22, 2017 - ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), www.ProGreenUS.com, @ProGreenUS, is a U.S. company engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its majority-owned Mexican subsidiary Procon Baja JV (Procon). ProGreen has signed a 5% Promissory Note with the company's CEO, Jan Telander, for a second credit line of up to $250,000.
The Cielo Mar Plan
GATED COMMUNITY, WITH ON-SITE SECURITY AND SECURITY CAMERAS THROUGHOUT THE DEVELOPMENT, MONITORED 24/7
TOTAL GREEN DEVELOPMENT
SOLAR POWER ONLY WITHOUT HOOKUP TO GRID
NOW STARTING WORKING ON MASTER PLAN – TOPOGRAPHIC PLAN
CHANGING LAND PERMISSION FROM RUSTIC TO DEVELOPMENT
We see the community, Cielo Mar, likely including:
7,000 SFR Lots
Several Condo developments with estimated 3,000 Units
Several Hotels with estimated 3,000 rooms total
A Marina for leisure Craft – Escalera Nautica
3 Golf Courses
Sport and Tennis Centers
Bike- Hiking- and Walking Trails
Green Areas and Parks
Museum
Equestrian Center
Beach Club
Commercial Center
Fiber optics for high speed internet- Carlos Slim installed line north to south along the transpeninsular highway
Water reservoirs
Sewage Plants
We are planning to start taking reservations for individual lots for the first phase even before the master plan is completed as there is already demand.
We will be offering initial buyers very favorable pricing as they will in effect be partners.
Details will be presented in the Cielo Mar website due to be launched soon
As far as the condos,hotels and golf courses, marina etc, we intend to attract outside property investors and developers
With the commercial properties, we have various alternatives but the most likely is to lease the properties and create residual income
Sale of individual SF lots, there will be:
A- lots, B-lots, C-lots, with A-lots starting at the oceanfront pricing will vary with front line lots at a premium
We will do a first phase of 50-100 lots which will serve as reference for the rest of the development
Here we will also offer very attractive deals for people that will build early
We intend to market Cielo Mar very aggressively
ProGreen's Subsidiary Procon Acquires 5,100 Acres of Ocean Front Land in Baja:
ProGreenUS is pleased to announce that our subsidiary, Procon Baja JV (Procon), has entered into a definitive purchase agreement for an ocean front tract of land situated near the town of El Rosario in Baja California. The land gently slopes towards the Pacific Ocean and covers a total area of 2,056 ha (5,100 acres) with 7,5 km (4.7 miles) of ocean front.
The land area is 233 ha (580 acres) larger than what was initially communicated on the company's website on December 21, 2016, as the land has been extended with a further 1.1 km (0.7 miles) oceanfront that initially was not included.
The architects will start working on a master plan, as soon as the land survey, currently in progress, has been completed, and an up to date plan of the land has been drawn.
We are presently in the process of building the management team for this development. Details on the members of this team will be published during the month of February. We will also initiate discussions with development partners once the initial development plans have been completed.
During February, we will also be launching a development website, where the public will be able to follow the progress of this planned community, from the very start.
"This real estate project will transform the future of ProGreen's involvement in Baja California. Having been a property developer for most of my life, I want to express that this development is the most exciting project that I have ever been involved with," said Jan Telander, President and CEO.
$5 Million Equity Line Declared Effective
(February 1, 2017)-The registration statement for the Equity Line financing with Tangiers, as announced on June 28, 2016, was declared effective today by the Securities & Exchange Commission (SEC). The Company has the option as to whether to use this financing, which would only be accessed when favorable for the Company and its stockholders.
Company Tweet:The company has no intention to draw on the Equity Line at levels anywhere near the present share price.
Contel Signs Million Dollar Produce Agreement:
ProGreenUS, is pleased to announce that the company's JV partner in Baja California, Mexico, Inmobiliaria Contel (CONTEL), signed an agreement with a major exporter of produce to the US. CONTEL will be growing red chilies on a 40 ha (100 acres) portion of the of the farmable 60 ha (150 acres) of the first tract of land under the JV with PROGREEN that was reported on previously. The buyer has committed $48,000 as up-front payment to secure the agreement.
The farming under this agreement, which is priced in US dollars, is estimated to yield 3,000-3,600 tons of produce with a value of $1.1 - 1.3 million and an estimated net margin of 55-60%. The JV agreement provides for 50/50 split of profits between PROGREEN and CONTEL. However, PROGREEN will first recover all of its investment in the operation prior to profits being distributed.
The produce will be harvested in 2-3 cuts, with the first expected for late June, and delivery will be to the buyer's packing plant in Ensenada, B.C.
CONTEL has intentionally chosen to limit this agreement to 40 ha giving the option to diversify production. The buyer has however announced serious interest in increasing the scope of future agreements for production of chilies to 100 ha (250 acres), to be able to meet demand.
"This is a big first step for CONTEL and PROGREEN under the JV partnership, as it solidifies an agreement with a major player as a first buyer. It also shows, in real terms, the enormous financial advantage, growing produce has to leasing the land, which would have resulted in an income of some $120,000/year for the whole land," says Jan Telander, President and CEO.
Progress Gets Further Funding From CEO
BLOOMFIELD HILLS, MI--(Marketwired - Nov 22, 2016) - ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), www.progreenus.com, has signed a 5% Promissory Note with the company's CEO, Jan Telander, for a credit line of up to $250,000. The Note is non-convertible and will be repaid within one year. As further incentive, up to 2,500,000 warrants with an exercise price of $0.05, will be issued as advances under the credit line are made.
This credit line provides a most favorable financing arrangement for ProGreen as we continue to execute our business plan, and until a later time that we would see it as an appropriate point to draw from the equity line financing under review by the SEC (see our current report on Form 8-K filing, June 27, 2016).
"My confidence in our business plan and strategy, and my commitment to the success of ProGreen, are my reasons for personally securing this bridge financing," says Jan Telander, President & CEO.
2Q 10-Q filed 12/20 - Clean balance sheet: slight increase in assets and profound decrease in liabilities; assets reflect sales of Michigan properties, Baja investment receivables; verified: share structure, assets, debt elimination! Good showing for new OTCQB investors.
1st Baja land tract
Contel has now established a channel to the US market that allows them to grow fresh produce directly for US importers. Leasing land for agricultural use can be very lucrative, but growing produce on the land offers significantly higher returns. We did not expect Contel to gain access to this point of operations so soon; however, this opportunity has been presented by 2 buyers with immediate demand.
Due to a new opportunity Contel is preparing operations for January seeding on the farmable 150-acre portion of the first tract of land, and the first harvest is expected for May/June 2017. Initially, a generator will provide the power needed for direct irrigation. Solar power will later replace the generator, and drip irrigation will be connected to a gravity reservoir, making the farm totally “green.” This will be the Flagship property in Baja with an abundance of water, and Solar powered water pumps making it completely green.
ProGreen controls an abundance of land with the options to increase the growing operation, leasing land, partnering with other growers, etc.
Leases $800-$1200 per acre per year
Growing on the land $3000-$8000 per acre per cycle varies by type of produce
This development is a great step forward, creating new and varied opportunities to accelerate growth.
Company blog updates
Oceanfront Land Purchase Details
02/03/17ProGreen and our JV partner, Contel, through our subsidiary Procon Baja JV (51% ProGreen US, 49% Contel) have acquired the oceanfront property as described in the 8K filing and yesterday’s press release. We have a binding, legal purchase agreement, and we now own the oceanfront land. A detailed plan of the property is being drawn at the present, which will be a part of the public deeds, to be signed within 60 days of the agreement, which is when the property will become registered in the public property registry in the name of Procon. Details of the purchase will be released thereafter.
We expect that this process should be completed by early March, but it may progress much faster. I must say that, due to the relationships that the company has developed and the resources that we’ve gained access to over the past year, our dealings in Baja have gone surprisingly smooth and generally faster than I originally expected.
01/15/2017 As mentioned earlier, the meeting with the Architect in Portland last week went very well and it is safe to say that they are almost as excited now as we are about this project. They are putting a team together including outside architects, in order to evaluate the best approach to the task of creating a Master plan for a project of this size.
The moment when we will be able to sign the definitive purchase agreement, is getting nearer as the DD is progressing better than anticipated. Early meeting already set for 01/16/2017 Monday morning, in order to go through the details that will form the basis for the documentation.
01/05/2017 We have extended the proposed land acquisition to now include approximately 4.0 M of ocean front (6,5 KM), compared to earlier announced 2.4 M.With our due diligence progressing faster than expected, we feel confident that we will be able to execute a purchase agreement this month, sooner than originally anticipated.
We are in the process of selecting a suitable US architect with whom to start working on the initial master plan.
Funding Growth & Operations…
- High quality PIPE financing to fund Baja and other projects - $5M equity line agreement: requires S-1 registration(DONE)/effect... which requires high-quality OTCQB listing status(DONE)
- Assets being monetized in Michigan
- First 300-acre land tract in Baja for growing operation
- Oceanfront land acquisition 4550 acres
Current Business & Valuation…
- PGUS is fully reporting (SEC) with audited financials
- Clean Balance Sheet! (Q2 10-Q report filed 12/20/16)
- ProGreen has gained control of large tracts of land in Baja California
- Joint Venture agreements, Contel
- Strategic business entity, ProCon with 51% majority gives ProGreen control and balance sheet assets
- Baja business agreements provide for return of all capital invested by ProGreen prior to the 50-50 distribution of profits from sales, leasing and/or land uses (e.g. growing)
- Valuations ranging from 0.12 to 0.31 in recent posts by DD-contributing board members
Long investors are looking forward to these important milestone events:
S-1 Registration filing: - DONE, S-1 FILED 8/31/16
10/26/16 Amended and reduced shares for same 5 million in financing (now based on average pps of 0.067)!!
S-1 EFFECTIVE:February 1, 2017,
Spoke with Jan about the 5 Million equity line and these are the responses I received
75M shares registered for total funding of $5 Million dollars, resulting in a MINIMUM average price of $0.067 -over max 36 months.
Primarily for the investment projects in Baja.
This is NOT a convertible debt instrument. With convertible note financing, issuer does not have control of timing or amount of conversion into common shares. After a convertible note becomes eligible for conversion, the holder of the note is in control of these things.
The equity line will work as a credit line with the company issuing put notices for drawdowns. The company is in control of the timing and the amount of the drawdowns, limited to maximum 10% of the market volume over the 10-day period prior to the put notice. No obligation to use the equity line, and the company can draw on the funding if/when it chooses over the 36 month period - whatever is best for the company and shareholders for building/growing the business.
They paid off the $22,000 convertible note that was issued for the legal/other fees in creating the equity line. Paid off in cash to avoid conversion to shares.
PGUS News: ProGreen's Subsidiary Procon Acquires 5,100 Acres of Ocean Front Land in Baja
BLOOMFIELD TOWNSHIP, MI--(NewMediaWire - Feb 2, 2017) - ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), www.ProGreenUS.com, Twitter @ProGreenUS, is pleased to announce that ProGreen's subsidiary, Procon Baja JV (Procon), has entered into a definitive purchase agreement for an ocean front tract of land situated near the town of El Rosario in Baja California. The land gently slopes towards the Pacific Ocean and covers a total area of 2,056 ha (5,100 acres) with 7,5 km (4.7 miles) of ocean front.
The land area is 233 ha (580 acres) larger than what was initially communicated on the company's website on December 21, 2016, as the land has been extended with a further 1.1 km (0.7 miles) oceanfront that initially was not included.
The architects will start working on a master plan, as soon as the land survey, currently in progress, has been completed, and an up to date plan of the land has been drawn.
We are presently in the process of building the management team for this development. Details on the members of this team will be published during the month of February. We will also initiate discussions with development partners once the initial development plans have been completed.
During February, we will also be launching a development website, where the public will be able to follow the progress of this planned community, from the very start.
"This real estate project will transform the future of ProGreen's involvement in Baja California. Having been a property developer for most of my life, I want to express that this development is the most exciting project that I have ever been involved with," said Jan Telander, President and CEO.
PGUS is a MAJOR GROWTH STORY..
Easy communication with management
Profits to begin in late 2017
Growing RAPIDLY
Increasing Revenue streams - FARMING - DEVELOPMENT
CEO Respects shareholders
HEAVY INSIDER BUYING ON THE OPEN MARKET!!
http://archive.fast-edgar.com//20170327/AB2T5G2CL222TZ22222Q2ZX26NO9Z222O292/
O/S ~349M
A/S 950M
Price is 40% off the 52 week high, and revs FROM farming will begin to roll in by late Q2/early Q3
INVEST WISELY
INSTATRADERS LONG TERM WINNERS
https://investorshub.advfn.com/INSTATRADERS-LONG-TERM-OTC-WINNERS!!!!-32023/
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