Current Report Filing (8-k)
March 16 2017 - 3:12PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): March 15, 2017
PROGREEN
US, INC.
(Exact
Name of Registrant as Specified in Its Charter)
Delaware
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000-25429
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59-3087128
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(State
or Other Jurisdiction
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(Commission
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(
I.R.S. Employer
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of
Incorporation)
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File
Number)
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Identification
No.)
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6443
Inkster Road, Suite 170-D, Bloomfield Township, MI
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48301
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant's
telephone number, including area code: (248) 973-8851
Former
name or former address, if changed since last report
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
☐
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
☐
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
☐
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
Item
8.01 Other Events.
ProGreen
is pleased to announce that the transfer of deed for the 5000-acre oceanfront property to Procon, has now been completed. The
acquisition was first announced in a press release on February 2, 2017. The property is for a large residential/resort community,
for which a master plan is already being worked on. For further details see www.ProGreenUS.com.
The
land was acquired at a low price, with very favorable terms. This was made possible through our joint venture with Contel which,
as a partner in Procon, will also benefit from future profits in the development.
The
terms of the acquisition of the 5000 acres of Pacific Ocean front land, are as follows:
Purchase
price: $500,000
Payment
terms - no interest
$20,000
---- down-payment
$30,000
---- with execution of deed
$50,000
---- 12/15/2017
$100,000
-- 12/15/2018
$100,000
-- 12/15/2019
$100,000
-- 12/15/2020
$100,000
-- 12/15/2021
The
title has now been signed over in a public Deed, under the authority of a “Notario Público” (Public Notary)
for entry into the Official Property Registry. A Public Notary, in Mexico, is a government-employed official whose primary responsibility
is to manifest the legal transfer of properties from one party to another.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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PROGREEN
US, INC.
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Dated: March
16, 2017
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By:
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/s/ Jan Telander
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Jan Telander,
Chief Executive Officer
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