SAN DIEGO, CA--(NewMediaWire - Aug 14, 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 pleased to announce that its agricultural investment
in Baja California has begun to bear fruit, with the first harvest
of chili peppers at ProGreen Farms™ Arenoso now in full
swing.
The beginning of the harvest represents two major milestones.
Not only have we successfully developed the land and infrastructure
for our first produce farm, Arenoso; with the harvest now underway,
we have demonstrated the successful development of a complete,
functional farming operation.
The location of the Arenoso farm on the main highway has proven
to be the perfect showcase for ProGreen Farms™ from the very start.
From the development work to the daily operations and now with the
view of the vibrant pepper crop from the road, the farm has
garnered a great deal of attention from produce buyers - who are
now actually coming to the farm, regularly, requesting produce - as
well as from growers and large farming operations wanting to buy
the farm. Through this exposure, and in combination with the actual
results, we have already achieved a new level of maturity in supply
chain participation within the produce market.
"Contel has reached another important milestone, having proven
the operation's capabilities, and now with the ability to be more
selective in what the operation will produce and for which buyers,"
said Jan Telander, President & CEO of ProGreen. "This is
obviously a very good confirmation of the value we have here, and
of the opportunities that we have ahead with the thousands of acres
of land within our control through our strategic partnership with
Contel.
"Contel has negotiated a supplement to the earlier agreement
with the buyer, Agricola Consuelo, originally valued at $1.M+, in
order to take advantage of the current, higher market price for the
peppers. As a result, some of the crop will be going to other
buyers, one being a large wholesaler with both exports to the US as
well as with large distribution within Mexico."
Additional areas of the Arenoso land are being prepared to
varying degrees for the next year and, with revenues now flowing
from the chili pepper harvest, possibilities are being considered
for a winter crop on some of the land to follow after the chili
pepper harvest.
"We are now also considering various options for improving
efficiencies in the Arenoso operation, such that goals for growth
in terms of revenue and profit may be achieved with the development
of new land in combination with various methods & processes
that can potentially double the produce yield, or more, and extend
the growing season for a given crop," said Telander. "This would
shift some of the investment required for developing new land, into
improved methods and processes for the existing operation, and
represents yet another significant milestone for the company's
agricultural operations as we have already reached this new level
of maturity in farming expertise."
Highlights of ProGreen's Agricultural Investment
Project
- 2016 - JV w/Contel, with nearly 14,000 acres under control and
4,000-5,000 acres estimated farmable, depending on availability of
water; ample water proven and first-pass cleared for farming on the
first 300-acre tract, plus 11-mile road cleared for access to the
1900-acres.
- Jan 2017 - Contel entered into the agricultural market and
signed $1M+ produce sales agreement with exporter/importer to US
market, having estimated net margin of 55-60%; this first grow
cycle for the operation estimated to produce millions of pounds of
chili peppers; profits to be split 50/50 between ProGreen and
Contel, with ProGreen recovering 100% of its investment prior to
profits being distributed.
- Feb/Mar 2017 - first farm on the 300-acre tract dubbed
"ProGreen Farms™ Arenoso," combining the trademark name of ProGreen
Farms with the local name, Arenoso, east of El Rosario on the main
highway. Seeds planted at the Baja Plants nursery & preparation
of the land for planting; complete irrigation system installed from
pumps to pipes to drip irrigation tubing and valves, 1,000's of
feet of 8-inch pipe buried and many more 1000's of feet of
above-ground drip irrigation tubing laid, after 100's of truckloads
of rocks removed with the virgin soil turned over 3
times.
- May/June 2017 - pepper seedlings planted on the farm in stages,
for a staggered harvest expected to generate first revenue from the
company's Baja investments beginning July/August through November;
1.9 million seedlings planted.
- July/August 2017 - Arenoso farm a showcase operation from the
start, attracting much attention during land preparation and
irrigation installation, and now with interested parties coming to
the farm with demand for produce as well as farmland for growing;
harvest started and in full swing, now; plans underway for
expansion, including some new land prepared as well as methods and
processes for dramatic increase in yield on parts of the land
already in use - and providing longer or additional growing
seasons.
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.