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cphillips82- Welcome back.
And + 1 follower for you.
HouseSteve- PROGREEN ANNOUNCES $10M SECURED FINANCING PLAN
by ProGreen US | Dec 20, 2017
SAN DIEGO, Calif., Dec. 20, 2017 (GLOBE NEWSWIRE) — ProGreen US, Inc. (ProGreen), (OTCQB:PGUS), www.ProGreenUS.com, Twitter @ProGreenUS, www.CieloMarBaja.com.
ProGreen is pleased to communicate its plan for a secured financing based on the company’s substantial assets and recent business arrangements.
Qualifying Basis for Collateralized Financing
Procon Baja JV, ProGreen’s Mexican subsidiary, is the owner of, and holds the deeds to 5,000 acres of land with 4.5 miles of ocean front along the Pacific Coast in Baja California. The property constitutes the basis for a mortgage guarantee, for a 5-7 year loan financing of up to $10M.
We are in the planning stage of a large real estate development (www.CieloMarBaja.com) on this prime land.
We have an agreement in principle with a first class architectural engineering and building company, which will bring substantial resources into the planning phase of the project. This company will also be the lead contractor for the infrastructure deployment as well as for general construction. An agreement is presently being drafted and is expected to be executed this week.
We have recently signed an agreement to supply ProGreen Farms™ produce to Huy Fong Foods, one of the largest U.S. buyers of red chili peppers.
ProGreen Farms US, LLC, a wholly owned subsidiary to ProGreen based in San Diego, will control and invoice all sales under the agreement.
Use of Proceeds
Eliminate debt starting with convertible notes.
Fund further expansion of our agriculture operations at the Arenoso Farm in Baja California.
Apply more funding to Cielo Mar, to accelerate the progress.
Fund Cielo Mar Reservations, LLC, for the marketing of Cielo Mar in Mexico, the U.S. and Europe – for pre-sales reservations of individual lots, as well as to property developers and hoteliers pre-launch of the development.
Provide additional working capital
“We anticipate to accept financing of up to $10M, and have already initiated discussions with one large lender,” says Jan Telander, CEO of ProGreen. “We believe gaining access to substantial capital at this time will provide a solid financial base for the company, creating the opportunity for a much faster expansion and laying the foundation for uplisting to a better exchange.”
https://www.progreenus.com/pr-20171220/
PGUS-CBRE appraisal values Cielo Mar land at $42M.
PRESS RELEASE - CBRE appraisal values Cielo Mar land at $42M @ProGreenUS #CieloMar #ProGreenUS #BajaCalifornia #HeavenByTheSea #TheFutureOfLiving https://t.co/GVnaSJUOvL https://t.co/oFcVPWAieH pic.twitter.com/g12R1e4hBs
— ProGreen US, Inc. (@ProGreenUS) March 21, 2018
PGUS-CBRE appraisal values Cielo Mar land at $42M.
PRESS RELEASE - CBRE appraisal values Cielo Mar land at $42M @ProGreenUS #CieloMar #ProGreenUS #BajaCalifornia #HeavenByTheSea #TheFutureOfLiving https://t.co/GVnaSJUOvL https://t.co/oFcVPWAieH pic.twitter.com/g12R1e4hBs
— ProGreen US, Inc. (@ProGreenUS) March 21, 2018
PGUS-CBRE appraisal values Cielo Mar land at $42M.
PRESS RELEASE - CBRE appraisal values Cielo Mar land at $42M @ProGreenUS #CieloMar #ProGreenUS #BajaCalifornia #HeavenByTheSea #TheFutureOfLiving https://t.co/GVnaSJUOvL https://t.co/oFcVPWAieH pic.twitter.com/g12R1e4hBs
— ProGreen US, Inc. (@ProGreenUS) March 21, 2018
PGUS-More good news from the CEO: The Power Up note that was due in February has been paid off in cash
https://twitter.com/ProGreenUS/with_replies
https://investorshub.advfn.com/ProGreen-US-Inc-PGUS-1968/
New tweet:The Power Up note that was due in February has been paid off in cash
https://twitter.com/ProGreenUS/with_replies
PGUS- An update from the CEO:
https://www.progreenus.com/cielo-mar-update-11/
https://investorshub.advfn.com/ProGreen-US-Inc-PGUS-1968/
New tweet: https://twitter.com/ProGreenUS/with_replies
We've posted a short update on the company blog regarding #CBRE. The more significant update on the #CieloMar plan is still coming. https://www.progreenus.com/cielo-mar-update-10/ …
https://www.progreenus.com/cielo-mar-update-10/
Jan tweeted earlier today: We still intend to provide an update this week on Cielo Mar plan development with Estrada, hoping on Friday but may take into weekend - busy week in Ensenada incl site visit with #CBRE, need time to get matl together to publish. #CieloMar
We still intend to provide an update this week on Cielo Mar plan development with Estrada, hoping on Friday but may take into weekend - busy week in Ensenada incl site visit with #CBRE, need time to get matl together to publish. #CieloMar https://t.co/BLh7y8SFSa
— ProGreen US, Inc. (@ProGreenUS) February 15, 2018
3rd tweet today: We now have new signs on the front of our Ensenada office for both #CieloMar and #ProGreenFarms https://www.progreenus.com/
We now have new signs on the front of our Ensenada office for both #CieloMar and #ProGreenFarms https://t.co/F2MPMsVCzn pic.twitter.com/rh2ulPgEvt
— ProGreen US, Inc. (@ProGreenUS) February 14, 2018
Another tweet: Finished in time for our reception of #CBRE this afternoon, as they are flying into Ensenada to meet at the office before tomorrow's site inspection #CieloMar https://www.cielomarbaja.com/
Finished in time for our reception of #CBRE this afternoon, as they are flying into Ensenada to meet at the office before tomorrow's site inspection #CieloMar https://t.co/IriWJjCc4Q pic.twitter.com/lml6qzNsRD
— ProGreen US, Inc. (@ProGreenUS) February 14, 2018
New Tweet: CBRE Cielo Mar site inspection is scheduled for this week, weather permitting
https://twitter.com/ProGreenUS/with_replies
New Tweet today: https://twitter.com/ProGreenUS/with_replies
Thanks Davis_Elite. I just signed up at: https://www.progreenus.com
PGUS- Update from the CEO today: https://twitter.com/ProGreenUS/with_replies
https://investorshub.advfn.com/ProGreen-US-Inc-PGUS-1968/
4,353,783 shares @ .00261 form t
PGUS broke through the 200 day MA two days in a row: http://stockcharts.com/c-sc/sc?s=PGUS&p=D&b=5&g=0&i=t35037002546&r=1513872665411
$PGUS- Great news from the CEO today: https://ih.advfn.com/p.php?pid=nmona&article=76336168&symbol=PGUS
http://investorshub.advfn.com/ProGreen-US-Inc-PGUS-1968/
New Tweet: Cielo Mar update next week.
https://twitter.com/ProGreenUS/with_replies
bill1228- Jan addressed that in the IH conference call on 02/23/2017. He mentions it at about the 56:00 minute mark. Link to CC here: http://www.progreenus.com/investors/
New Tweet showing new photos of ProGreen Farms:
Photos of ProGreen Farms - Arenoso planting on the Agriculture project page at https://t.co/kdgVkSWlHt pic.twitter.com/knmzYeotXm
— ProGreen US, Inc. (@ProGreenUS) May 4, 2017
PGUS- A detailed history of PGUS can be read on the Company Blog: http://www.progreenus.com/company-blog.html
http://investorshub.advfn.com/ProGreen-US-Inc-PGUS-1968/
Hotbooty- "Statistics from the U.S. Department of Agriculture show that Mexico by far is the most important supplier of fresh produce, accounting for 69% of U.S. fresh vegetable imports. U.S. imports of Mexican fresh vegetables amounted to $4.05 billion in 2012, as compared to 4.8 billion in 2015, an increase of approximately 6% per year."
The CEO posted that information on the PGUS Company Blog on 12/13/2016.
http://www.progreenus.com/company-blog.html
Thanks. + 1 follower for you also.