BLOOMFIELD TOWNSHIP, MI--(NewMediaWire - Feb 2, 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.
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.