Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
PGUS March 16, 2017 ProGreen Announces Transfer of Deed and Acquisition Terms for Oceanfront Land
BLOOMFIELD HILLS, MI - (NewMediaWire) - March 16, 2017 - 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 majority-owned Mexican subsidiary Procon Baja JV (Procon).
ProGreen is pleased to announce that the transfer of deed for the 5,000-acre oceanfront property to Procon has now been completed. The acquisition was first announced in a press release on February 2, 2017.
The property is for a large Residential/Resort community, for which a master plan is already being worked on. For further details see www.ProGreenUS.com.
The land was acquired at an extremely low price, with very favorable terms. This was made possible through our joint venture with Contel which, as a partner in Procon, will also benefit from future profits in the development. Without this strategic relationship, the acquisition would simply never have been possible.
The terms of the acquisition of the 5,000 acres of Pacific Ocean front land, are as follows:
Purchase price: $500,000
Payment terms - no interest
$20,000 ---- down payment
$30,000 ---- with execution of deed
$50,000 ---- 12/15/2017
$100,000 -- 12/15/2018
$100,000 -- 12/15/2019
$100,000 -- 12/15/2020
$100,000 -- 12/15/2021
The title has now been signed over in a public Deed, under the authority of a "Notario Público" (Public Notary) for entry into the Official Property Registry. A Public Notary, in Mexico, is a government-employed official whose primary responsibility is to manifest the legal transfer of properties from one party to another
PGUS March 6, 2017 Agriculture Operation Launches "ProGreen Farms" Brand
BLOOMFIELD TOWNSHIP, MI - (NewMediaWire) - March 06, 2017 - 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 majority-owned Mexican subsidiary Procon Baja JV (Procon).
ProGreen is pleased to announce that the agricultural operation with JV partner, Contel, has been branded under the trademark name, "ProGreen Farms," and a Facebook Brand Page has been launched at Facebook.com/ProGreenFarms/.
The company has provided additional comments in an update of recent business activities on the Company Blog at ProGreenUS.com/company-blog.html.
"We see this as an important step for our JV partner, Contel, toward establishing themselves as a fresh produce grower in Baja California," says Jan Telander, President and CEO of ProGreen.
PGUS February 22, 2017 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 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 additional credit line provides a continued favorable financing arrangement for ProGreen as we execute our business plan, with a ramp up of our activities in Baja California, until a later time that we would see it as an appropriate point to draw from the equity line financing. My confidence in our business plan and strategy, and my commitment to the success of ProGreen, are my reasons for personally expanding this bridge financing," says Jan Telander, President & CEO.
ALL IMO
PGUS February 02, 2017 ProGreen's Subsidiary Procon Acquires 5,100 Acres of Ocean Front Land in Baja
BLOOMFIELD TOWNSHIP, MI - (NewMediaWire) - February 02, 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.
PROGREEN US, INC., www.ProGreenUS.com, based in Bloomfield, Michigan, has been engaged in the business of acquiring, refurbishing and upgrading residential real estate into modern affordable homes, offered for sale with Land Contracts to buyers still unable to obtain conventional credit. At this time the company is not acquiring further properties, but is instead focusing on intensifying its property investments in Baja California, Mexico, both through its joint venture partnership with Contel as well as through its subsidiary Procon Baja JV.
PGUS January 23, 2017 Contel Signs Million Dollar Produce Agreement
BLOOMFIELD TOWNSHIP, MI - (NewMediaWire) - January 23, 2017 - ProGreen US, Inc (PROGREEN), (OTCQB: PGUS), www.ProGreenUS.com, Twitter @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.
April 13, 2017 Business Brief
Here is a brief update before I leave for Baja this morning…
I am pleased to report that we’ve received a good number of reservation requests already for the Cielo Mar lots, including several with commitments for early building.
Alejandro and I will be reviewing the topographical plan of the Cielo Mar land early next week and, together with the architect, we will be working on the master plan.
Our efforts toward generating new awareness of the company and its activities seem to be having some effect, and we are delighted with the activity that we’ve seen on the Cielo Mar website. The Arenoso farm is also getting some attention, as we’ve been notified by Google that the site on Google Maps had 1,367 views just last week:
April 19, 2017 Baja Agriculture Update
The setup of the agriculture operation at ProGreen Farms – Arenoso is going according to plan, and we could not be more pleased. Miguel is one of the most accomplished farm foremen in Baja California, and his experience really shows.
There is much talk about ProGreen Farms in San Quintin, where the company is drawing on the workforce, and many are wanting to be a part of this new operation. The farm currently employs a total of 56, with 13 living at the farm.
We have 40 HP pumps installed at the bottom of two of the wells that were drilled on the Arenoso land last year, one at about 220 feet and the other 300 feet below the surface, spaced apart by about ¼ mile. The above-ground pipes for both wells are being connected to feed the irrigation system this week.
Plastic sheeting will be applied over all of the growing area, to which the drip irrigation tubing will be attached, and the pepper plants will be planted through holes in the sheeting material. The plants – currently about 8 inches high – are ready, and they will be planted starting on Monday or possibly as early as Sunday.
We continue to see quite a bit of interest in the Arenoso farm, as can be seen in the above image that we received from Google yesterday. Some of the views may be from growers in the area – or their U.S. or international counterparts – that have taken note of the activity at Arenoso, as some have recently expressed even greater interest than before, to buy the land. Though the company is no longer interested in selling the land, we see this as very positive. Demand for farmable land continues to increase as the demand for produce from Baja increases. This has been the story for many years now, and the industry expects the growth in demand to continue indefinitely. We are looking forward enthusiastically to getting started later this year on the expansion of the growing operation.
We will be posting more new photos on the agriculture page over the coming days.
Friday photos at ProGreen Farms - Arenoso posted on Agriculture project page at http://ProGreenUS.com ;
LAST LOOK AT THE LAND BEFORE ITS COVERED IN GREEN
January 23, 2017 Contel Signs Million Dollar Produce Agreement
BLOOMFIELD TOWNSHIP, MI - (NewMediaWire) - January 23, 2017 - ProGreen US, Inc (PROGREEN), (OTCQB: PGUS), www.ProGreenUS.com, Twitter @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.
PGUS ready to breakout .051 coming soon...
http://www.newmediawire.com/news/cielo-mar-launches-pre-sales-reservation-offer-4709358
http://www.newmediawire.com/news/procon-announces-launch-of-cielo-mar-website-4675368
http://www.newmediawire.com/news/progreen-negotiates-buyback-of-preferred-shares-4642075
http://www.newmediawire.com/news/progreen-pays-off-convertible-note-in-cash-4632302
http://www.newmediawire.com/news/progreen-announces-transfer-of-deed-and-acquisition-terms-for-oceanfront-land-4629695
http://www.newmediawire.com/news/agriculture-operation-launches-progreen-farms-brand-4598656
http://www.newmediawire.com/news/progreen-ceo-provides-a-second-250-000-bridge-financing-to-the-company-4560474
http://www.newmediawire.com/news/progreen-s-subsidiary-procon-acquires-5-100-acres-of-ocean-front-land-in-baja-4495168
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.
[color=red]OUR GOALS [Stated February 23, 2017]
ACRES OF PRODUCE GROWING OPERATIONS: [/color]
2017 - 100 acres
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
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 CompanyBLOOMFIELD, 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.
ProGreen Gets Further Funding From the 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.
April 10, 2017 Cielo Mar Launches Pre-Sales Reservation Offer
BLOOMFIELD HILLS, MI - (NewMediaWire) - April 10, 2017 - 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 majority-owned Mexican subsidiary Procon Baja JV (Procon).
ProGreen is pleased to announce the release of a pre-sales reservation offer for the company's planned 5,000 acre ocean front development, Cielo Mar, located on the Pacific Coast of Baja California, Mexico. This first offer represents deep discounts and other special advantages, and is limited to 30 Lots. Priority will be given for commitment to early construction, and Reservation Requests will be accepted on a first-come, first-served basis from when they are received.
Interested buyers may begin submitting requests for lot reservations on Tuesday, April 11, from 12:00 noon (EST).
Full details about the Reservation process can be found on the Cielo Mar website at www.CieloMarBaja.com
March 20, 2017 ProGreen Negotiates Buyback of Preferred Shares
BLOOMFIELD HILLS, MI - (NewMediaWire) - March 20, 2017 - 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 majority-owned Mexican subsidiary Procon Baja JV (Procon).
As announced last year in the press release on March 14, 2016, ProGreen acquired a property portfolio in Michigan from, and reduced debt to, American Residential Fastigheter AB (AMREFA-Sweden). The cost of the total transaction was $1,355,000, which was paid through the issuance of 8,534,625 Series B Preferred shares. AMREFA had the option to convert the Preferred shares into common stock after 12 months at average market price for the 20 trading days prior to March 8, 2017.
ProGreen is now pleased to announce that, after negotiations, AMREFA has agreed to a buyback of the Preferred shares, at the original stated value, in lieu of conversion into common stock. As part of the agreement, ProGreen will continue to pay interest of 7% as provided in the original sale and purchase agreement, until the amount has been paid in full. As we plan to move our operations to San Diego in the summer, we are now actively in the process of selling the property portfolio in Michigan.
"We are very pleased to have come to this agreement with AMREFA. If the preferred shares had been converted, it would have resulted in 60,282,621 new shares of common stock being issued. This solution is in keeping with our commitment to avoid any unnecessary dilution of the stock," says Jan Telander, CEO & President.
March 17, 2017 ProGreen Pays off Convertible Note in Cash
BLOOMFIELD TOWNSHIP, MI - (NewMediaWire) - March 17, 2017 - 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 majority-owned Mexican subsidiary Procon Baja JV (Procon).
ProGreen is pleased to announce that the Hoppel convertible note from September has been paid off in cash.
"This follows our strategy to avoid any dilution of the stock from conversion," says Jan Telander, CEO & President.
March 16, 2017 ProGreen Announces Transfer of Deed and Acquisition Terms for Oceanfront Land
BLOOMFIELD HILLS, MI - (NewMediaWire) - March 16, 2017 - 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 majority-owned Mexican subsidiary Procon Baja JV (Procon).
ProGreen is pleased to announce that the transfer of deed for the 5,000-acre oceanfront property to Procon has now been completed. The acquisition was first announced in a press release on February 2, 2017.
The property is for a large Residential/Resort community, for which a master plan is already being worked on. For further details see www.ProGreenUS.com.
The land was acquired at an extremely low price, with very favorable terms. This was made possible through our joint venture with Contel which, as a partner in Procon, will also benefit from future profits in the development. Without this strategic relationship, the acquisition would simply never have been possible.
The terms of the acquisition of the 5,000 acres of Pacific Ocean front land, are as follows:
Purchase price: $500,000
Payment terms - no interest
$20,000 ---- down payment
$30,000 ---- with execution of deed
$50,000 ---- 12/15/2017
$100,000 -- 12/15/2018
$100,000 -- 12/15/2019
$100,000 -- 12/15/2020
$100,000 -- 12/15/2021
The title has now been signed over in a public Deed, under the authority of a "Notario Público" (Public Notary) for entry into the Official Property Registry. A Public Notary, in Mexico, is a government-employed official whose primary responsibility is to manifest the legal transfer of properties from one party to another
March 6, 2017 Agriculture Operation Launches "ProGreen Farms" Brand
BLOOMFIELD TOWNSHIP, MI - (NewMediaWire) - March 06, 2017 - 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 majority-owned Mexican subsidiary Procon Baja JV (Procon).
ProGreen is pleased to announce that the agricultural operation with JV partner, Contel, has been branded under the trademark name, "ProGreen Farms," and a Facebook Brand Page has been launched at Facebook.com/ProGreenFarms/.
The company has provided additional comments in an update of recent business activities on the Company Blog at ProGreenUS.com/company-blog.html.
"We see this as an important step for our JV partner, Contel, toward establishing themselves as a fresh produce grower in Baja California," says Jan Telander, President and CEO of ProGreen.
February 22, 2017 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 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 additional credit line provides a continued favorable financing arrangement for ProGreen as we execute our business plan, with a ramp up of our activities in Baja California, until a later time that we would see it as an appropriate point to draw from the equity line financing. My confidence in our business plan and strategy, and my commitment to the success of ProGreen, are my reasons for personally expanding this bridge financing," says Jan Telander, President & CEO.
February 02, 2017 ProGreen's Subsidiary Procon Acquires 5,100 Acres of Ocean Front Land in Baja
BLOOMFIELD TOWNSHIP, MI - (NewMediaWire) - February 02, 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.
PROGREEN US, INC., www.ProGreenUS.com, based in Bloomfield, Michigan, has been engaged in the business of acquiring, refurbishing and upgrading residential real estate into modern affordable homes, offered for sale with Land Contracts to buyers still unable to obtain conventional credit. At this time the company is not acquiring further properties, but is instead focusing on intensifying its property investments in Baja California, Mexico, both through its joint venture partnership with Contel as well as through its subsidiary Procon Baja JV.
PGUS
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.
PGUS time to blow the lid off....
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.
PGUS
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.
PGUS ready to go...
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.
PGUS -
only 100k to .03
PGUS thin to .03 BLUE SKY BREAKOUT
Confirmation of the UPTREND as begun!!PGUS
PGUS gearing up for takeoff!!
PGUS
Nice buys coming in BOOMTIME!!!
The decision to invest in PGUS...
Like the Jackson 5 would say..
ABC
Easy as
One, two, three
Or simple as
Do re mi
PGUS LONG
Like Warren Buffett says " The stock market is a device for transferring money from the impatient to the patient"
You can lead a Jacka** to water, but you cant make em drink
PGUS LONG TERM INVESTMENT PRODUCING A ABUNDANCE OF WATER FOR THE PATIENT
Do check the CEOs open market purchases since March 2016.. notice how they have increased by 20 million shares PGUS LONG TERM INVESTMENT
Check the charts direction from March 2016...like a real investor would...PGUS LONG TERM