Progreen has signed a deal with Huy Fong for the supply of chili peppers for Huy Fong’s plant in Irwindale, California, Huy Fong are the makers of the original Sriracha Hot Sauce.
The deal is essentially unlimited in terms of how many peppers the company can sell Huy Fong who are the World largest buyer of peppers!
The deal calls for delivery of a minimum of $1.2 million in product but revenues are expected to reach closer to $5,000,000 in 2018, with a 50% further increase possible for 2019.
Progreen also owns 5100 acres with with 4.7 miles of oceanfront on the Pacific coast of Baja California they are developing into a resort-style international vacation and retirement community, with integrated solar roofs on every home, and green technology throughout. That property alone was just valued at $41 Million by the respected CBRE Group, who are the largest commercial real estate services and investment firm in the world.
CEO Jan Telander has a strong belief in energy efficiency and green technology and has had major successes including starting up Soltech a leading solar technology company in Sweden and China. In Spain alone Mr. Telander is responsible for the building of over 500 homes.
In Spain, Sweden, the UK and in the United States, he is recognized for his record of success in real estate developments and construction, private investment dealings, the acquisition and tailoring of start-up companies, including a new solar technology company.
ProGreen also today announced $5M non-dilutive conventional financing, CEO appears to be pro shareholder.
Trading under 3 cents I think it could move up as it gets discovered:)
all of my posts are my own opinion, and should not be taken as investment advise.
