SAN DIEGO, CA--(NewMediaWire - Aug 8, 2017) -
ProGreenUS, Inc. (ProGreen),
(OTCQB: PGUS), www.ProGreenUS.com, Twitter @ProGreenUS,
is a US company engaged primarily with investments in agricultural
and real estate projects in Baja California, Mexico, both through
its joint venture partnership with Inmobiliaria Contel S.R.L.C.V.
(Contel) and through its majority-owned Mexican subsidiary Procon
Baja JV (Procon), www.CieloMarBaja.com.
ProGreen is very pleased to announce its expanded plan for the
company's pre-sales lot reservation offering in conjunction with
the greatly enlarged first phase of the Cielo Mar development in
Baja California, Mexico.
3D perspective images were published on the development website
last week (www.cielomarbaja.com), showing an outline of the area
which will now be the first execution phase. With this revision to
a much larger, 2440-acre Phase I, the company will be offering up
to a total of 500 lot reservations to be executed in several rounds
prior to the public market launch. Reservations secure priority in
lot selection, as well as a substantial discount from market
pricing, with the discount reduced for each subsequent offer as the
time of the public market launch gets nearer and the public
awareness of Cielo Mar grows.
ProGreen closed the first reservation offer in June, following
an overwhelming response with 25 reservations placed within weeks.
Congratulations to all who made their reservations with the first
offer -- welcome aboard!
The second reservation offer -- opened just last week -- is
limited to 50 lots (5 Oceanfront, 10 Golf, and 35 General lots),
with a discount of 40% from the market price at the time the Phase
I execution plan is published. Market prices at that time are
expected to be in the range of $60,000 for some of the more
economic General lots, $120,000 for Golf lots, to $240,000 for
first-line Oceanfront lots, but will vary with the features of
individual lots (e.g. size, location, proximity to amenities,
etc.).
Reservations require a refundable deposit of $1,000 to $2,000,
depending on the type of lot, and can be made on the development's
website at www.cielomarbaja.com.
"Early buyers/investors through the reservation offers will, in
effect, be actively participating in the financing of the
development in exchange for substantially better pricing, together
with many other benefits," said Jan Telander, President & CEO
of ProGreen. "Revenue from early buyers through the reservations
offers, including the construction backlog from those who build
early in connection with construction incentives, will put Cielo
Mar in a very good funding position from the outset of the
development."
The development team is on track for having a presentable Master
Plan of the Cielo Mar community published on the website this fall.
With the advancement to the larger and more comprehensive Phase I
plan -- nearly twice the size that was initially planned and
incorporating the majority of the amenities -- reservation holders
can expect to have up to 18 to 24 months before final Government
approval and publication of the plan, when lots may be selected and
definitive purchase agreements executed. The execution plan
represents the detailed subdivision of the first phase with legal
measurements for individual lots and other documentation required
to execute lot sales.
"We now feel confident in raising the bar with this upward
revision to our plan. Our confidence is founded on the strong
interest already shown from private as well as professional
property investors interested in Cielo Mar's early reservation
offers," said Telander. "To secure considerably better pricing
while also receiving "first choice" -- enabling investors to select
multiple lots grouped together, whether to resell at a later time
or to build on as a project for resale or rental -- represents a
great opportunity in exchange for a small refundable deposit."
Cielo Mar represents the real estate segment of ProGreen's
business, and is owned and developed by the company's
majority-owned Mexican subsidiary, Procon Baja JV.
ProGreen will be issuing a press release early next week
regarding recent milestones on the agricultural side of its
business.
Websites:
www.ProGreenUS.com
www.CieloMarBaja.com
Follow us on social media:
https://www.facebook.com/ProGreenFarms/
https://www.facebook.com/cielomarbajacamx/
https://twitter.com/ProGreenUS
http://www.progreenus.com/blog
About ProGreenUS, Inc.
ProGreenUS, Inc., www.ProGreenUS.com, based in San Diego,
California, is engaged primarily with investments in agricultural
and real estate projects in Baja California, Mexico, both through
its joint venture partnership with Inmobiliaria Contel S.R.L.C.V.
(Contel) as well as through its majority-owned Mexican subsidiary
Procon Baja JV (Procon). Contel is now active in the high margin
produce industry, growing crops for exporters to the US market,
with an abundance of land available for expansion under our JV
partnership. Procon has recently acquired 5,000 acres of land with
4.5 miles of oceanfront on the Bay of El Rosario, for which a
master plan is being drawn for the development of a very large,
totally green, international vacation and retirement community
called "Cielo Mar."
Independent Stock Message Forum:
http://investorshangout.com/ProGreen-US-PGUS-65470/
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.