BLOOMFIELD HILLS, MI - (NewMediaWire) - January 05, 2016 - PROGREEN PROPERTIES, INC. (PROGREEN) (OTC PINK: PGEI) is pleased to announce that the discussions for a joint venture with a Mexican land owner in Baja California, as announced on October 28, 2015, have progressed very positively and we expect to complete the acquisition of a first tract of land (approx. 300 acres), before February 15, 2016. This first piece of land is intended to be divided into parcels for agriculture use. Once the infrastructure has been completed and the land has been prepared for active farming, the parcels will be leased or sold as prime farmland to local or foreign growers of produce, destined for the US market.
"This represents the beginning of what we believe is a huge opportunity to create long term sustainable growth for PROGREEN," says Jan Telander, President
About ProGreen Properties, Inc.
PROGREEN PROPERTIES, INC. (PROGREEN) (OTC PINK: PGEI) based in Bloomfield Hills, Michigan, is engaged in the business of acquiring, refurbishing and upgrading residential real estate into modern affordable homes, some being aimed at the local real estate market and some sold to European Property Investors. The company is also presently looking negotiating investment opportunities in Baha California, Mexico.
PROGREEN wholly owned subsidiaries:
PROGREEN REALTY LLC, purchasing, leasing and sale of properties.
PROGREEN PROPERTY MANAGEMENT LLC, management of properties sold to investors.
PROGREEN CONSTRUCTION LLC, in house construction company
"This press release contains statements, 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"
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