BLOOMFIELD HILLS, MI--(NewMediaWire - 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.
PROGREEN US, INC. (PROGREEN) (OTCQB: PGUS), www.Progreenus.com, based in Bloomfield,
Michigan, is 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. The company has also recently entered
into property investments in Baja California, Mexico and will be
intensifying this activity, with the aim of creating a sustainable
income stream for years to come.
This press release might contain information, which may
constitute 'forward-looking statements' within the meaning of the
Securities Act of 1933 and the Securities Exchange Act of 1934, as
amended by the Private Securities Litigation Reform Act of 1995.
'Forward-looking statements' are based upon expectations, estimates
and projections at the time the statements are made that involve a
number of risks, uncertainties and other factors that could cause
actual results or events to differ materially from those
anticipated.