ProGreen US Inc. (fka PGUS)

[Davis_Elite]

Nice pattern

ProGreen pay off convertible note in cash...
http://www.newmediawire.com/news/progreen-pays-off-convertible-note-in-cash-4632302

ProGreen negotiates buyback of preferred shares
http://www.newmediawire.com/news/progreen-negotiates-buyback-of-preferred-shares-4642075

ProGreen reduces AS of common stock
http://www.newmediawire.com/news/progreen-reduces-authorized-shares-of-common-stock-4315129

CEO CLEARY STATES OVER AND OVER NO DILUTION

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

"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.

"This follows our strategy to avoid any dilution of the stock from conversion," says Jan Telander, CEO & President.

As we have made very clear several times before, we have the firm intention to pay off all outstanding notes in cash, in order to avoid any dilution of the stock from conversion

The terms are better for the new notes, as they do not include incentive shares or warrants. Our intention is to pay off all notes in cash, as we did with the Tangiers note in January and the Hopple note earlier this month, in order to avoid conversion.

In response to inquiries in relation to recent bridge financing, we want to confirm our clear intentions 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

Jan keeps following through soon sideliners will be chasing....

PGUS