ProGreen US PGUS
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ProGreen US, Inc.
PGUS
www.progreenus.com
Updated Feb. 4th 2017
Authorized Shares 950M
Outstanding Shares 349.91M
Restricted Shares 103.94M
Free Float 224M
CEO Mr. Jan Telander is the proud owner of 22,062,409 common shares purchased at various share prices ranging from $.0006 to $.0241 PPS
ProGreen Properties Inc. changes Name to ProGreen US, Inc.
"We are changing our name to better reflect the expansion of the company's business activities going forward, investment in agriculture land in Baja California, further planning for residential and commercial real estate developments in the area, with integration of advanced solar technology. Our newly formed subsidiary, ProCon Baja JV, based in Ensenada, Mexico, is expected to contribute importantly to the future growth of the company", says Jan Telander, CEO.
MISSION STATEMENT
ProGreen's mission has been focused on building value by improving on conventional landscapes. We always aim to do what's environmentally friendly, whether it is rehabilitating older homes into more energy efficient and healthier living spaces or turning desert landscapes into productive organic farms. Health and sustainability has always been in the forefront of our thinking. ProGreen will continue to look at projects that will improve the lives of people and have a net positive effect on our planet
"These interviews with Mr. Telander really puts PGUS into perspective. The interviews are a must listen if one is conducting DD or thinking about investing with PGUS
https://upticknewswire.com/uptick-network-int...erties-inc
Interview with ProGreen CEO Jan Telander (Uptick Newswire Podcast)
http://upticknewswire.com/jan-telander-ceo-of...rofitable/
Jan Telander, President and CEO
An accomplished businessman, Jan Telander’s success in business spans over more than three decades. Mr. Telander began his lengthy tenure of developing and directing several successful business models in the early 70s. In the last few years Mr. Telander has had major successes including starting up Soltech a leading solar technology company in Sweden and China. In Spain Mr. Telander is responsible for the building of over 500 homes.
In Spain, Sweden, the UK and in the United States, he is recognized for his record of success in real estate developments and construction, private investment dealings, the acquisition and tailoring of start-up companies, including a new solar technology company. Mr. Telander’s strong belief in energy efficiency and green technology has become a focal point in his present evaluation of business opportunities. As the founder and leader of ProGreen, Mr. Telander’s vision for success has now led him to look at Baja California as a great opportunity for future developments. ProGreen has until now been exclusively involved in real estate in Oakland County, Michigan, but has now started to look into other areas with great opportunities. At present the company is looking into possible development opportunities in Oklahoma and expansion of their on going efforts in Baja.
Meet the PGUS Management Team
Michael Hylander, Company Director
Christina Lombera, Principal Broker
Kristen Gard, Office Manager
PGUS Subsidiary ( Procon Baja JV, Inmobiliaria Contel )
Procon Baja JV is our joint venture subsidiary with Inmobiliaria Contel in Baja California, Mexico, with ProGreen 51% and Contel 49%. The company is managed by a board of Managing Directors consisting of three members, with two representing ProGreen and one representing Contel. At least two Managing Directors approval is required for major decisions and financial transactions, giving ProGreen full control.
Procon Team Members
Procon Baja JV General Manager
Alejandro Espinoza Arroyo
Alejandro, an accomplished Civil Engineer, will first be working as a consultant to Procon, responsible for producing the topographical plan needed to create the Master Plan for the development, Cielo Mar. Once this has been completed, Alejandro will come onboard full time as the General Manager to lead the development. He will also be building the right support team.
Age: 59
Location: Ensenada, Baja California, Mexico
EDUCATION
1995 AUTONOMOUS UNIVERSITY OF BAJA CALIFORNIA (Ensenada)
Land Boundary Surveyor
1993 AUTONOMOUS UNIVERSITY OF BAJA CALIFORNIA
Diploma of Foreign Trade and Customs
1984 to 1989 AUTONOMOUS UNIVERSITY OF BAJA CALIFORNIA (Ensenada)
Degree in Civil Engineering for ports and marinas
1977 to 1982 AUTONOMOUS UNIVERSITY OF BAJA CALIFORNIA (Mexicali)
Degree in Architecture
WORK EXPERIENCE
2016 ADVISER: THE CIVIL ASSOCIATION "FOUNDERS OF EL ROSARIO"
Mission: to obtain the legalization of ownership, before the three levels of government, of all the properties in El Rosario, including agriculture land and residential properties
2015 SURVEYING AND CERTIFYING TOPOGRAPHIC PLANS
2008-2014 VARIOUS
PLAN MANAGER, housing and topography of Baja California for the municipalities of Tijuana, Tecate, and Rosarito Beaches
MANAGEMENT POSTS - having in charge and command teams of engineers and topographers for urban projects, as well as a link between institutions
June 1999-March 2008 DESIGNATED HEAD OF CONSTRUCTION, REPRESENTING THE GOVERNMENT OF THE STATE OF BAJA CALIFORNIA, MUNICIPALITY OF ENSENADA
Managed approximately 750 construction projects, executed for the infrastructure in various specialties; being mainly in educational, hospital, penitentiary, cultural, sports, public offices, streets and diverse work. Led a staff of supervisors for these projects.
Handled approximately 500 public tenders (offers for open bids) of very diverse government work, in the areas of educational, hospital, sports, penitentiary, cultural infrastructure, public offices, roads, voice and data transmission antennas on high mountains.
1997 OFFICIAL LAND SURVEYOR for the municipality of Ensenada
1993-1999 Export activities of fishery products to ten cities of Japan, with seat in Ensenada, Mexico; Los Angeles, USA; Fukuoka and Kagoshima, Japan; MARKETING OF FISHERY PRODUCTS IN 13 CITIES OF JAPAN
1996 Export activities to two cities of Korea (Cheju and Seoul)
1995 Land Boundary Surveyor for the municipality of Ensenada, Baja California
1984-1994 Head Project and Construction Engineer
1988-1990 AUXILIARY TEACHER in the Engineering School, UABC-Ensenada
1991 Supervisor of education for federal governmental work, for the municipality of Ensenada
1983-1998 TOPOGRAPHIC PROJECTS (150)
1979-1998 DESIGN AND EXECUTION OF PRIVATE BUILDING PROJECTS (300)
1979-1981 CONSTRUCTION PROJECTS IN MEXICALI, BC
IN THE FIELD OF CULTURE
Since 1972 Researcher, the history of Baja California
1985-1986 Collaborations with West Lafayette University
Since 1992 Writer and Historian, Baja California
Since 1992 President of the cultural commission of El Rosario
Since 1992 Collaborator of the National Institute of Anthropology and History
Since 1992 Collaborator of the National Council of Culture and the Arts
Since 1992 Author of multiple historical conferences
1993-94 Speaker in various history forums, Baja California
1993 PAC-MYC Award Winner, Tijuana, Baja California
October 1994 Founder of the community museum "El Rosario"
Since 1994 Leader for the collections that form the museum
Since 1994 Responsible for the community museum "El Rosario"
1995 Support for television program on paleontology research
1995 Speaker "V cultural forum" Tecate, Baja California
1995 PAC-MYC Award Winner, Tijuana, Baja California
2003 PAC-MYC Prize Winner in Baja California
AS A HISTORIAN AND WRITER OF TWO PRINTED BOOKS ON THE HISTORY OF BAJA CALIFORNIA :
1992 "LOS ROSAREÑOS"; MEMORIES OF THE BIRTH AND LIFE OF A VILLAGE “BAJACALIFORNIANO” 1774-1992
Oct-2007 "ESPINOZA LINEAGE"; SO OUR PIONEERS SURVIVED
Published in magazines of historical literature "Voices of the peninsula", newspaper "the lookout", cultural agenda of the Culture of Baja California (ICBC); In the Sonoran institute of culture, and society Sonoran history.
Various interviews in radio and television in the city of Ensenada, by Don Luis Mario Lamadrid Moreno, and by Mr. Francisco Vargas.
Nov-2007 representative of the institute of culture of baja california in Hermosillo, Sonora, for the international forum "v forum of the missions of northwestern Mexico: origin and destination"
1972 Writer of 'memories Baja California'
2007 Published research 'memories Baja California' on the Internet, including dates with 122 articles, which can be found at www.elrosariobc.blogspot.com
President of the Civil Association 'we work for my historic village and I', A.C., which rehabilitates the cultural and municipal historical missionary Pantheon, founded in 1802, El Rosario, Baja California.
PGUS Business Updates:
July 5 2016
ProGreen US Open Letter to Shareholders:
Recently we have begun focusing on opportunities in Mexico, through investments in agricultural land in Baja California. We anticipate to increase this activity substantially over time.
Goals for the next 12-18 months
* Create a substantial revenue stream from our agriculture land developments in Baja
* Commence property developments in Baja as well as in the US.
* Enter into a formal agreement with Soltech Energy Sweden AB and apply their solar technology to suitable properties developed by ProGreen in the US and Baja.
* Broaden our shareholder base through regular communication and interaction with shareholders and the investment community at large.
* Get the company moved up to OTCQB and move the company toward a Nasdaq listing.
Transparency towards our shareholders
True transparency of the company's activities and progress in respect to shareholders, we see as essential to attract long term investors and create shareholder loyalty. Keep the public well informed with an open line of communication, channeled mainly through our new website ProGreenUS.com, with attached Twitter feed, message board, ticker news, press releases, and share structure (updated first week of every month). We will also expand our exposure to the public through other suitable social media, webinars and investor presentations, reflecting the mission of transparency as well as growth of the company, to serve as a true barometer of PROGREEN.
The new PROGREEN
Over the past 6 months we have been working very hard with turning the company around and some significant progress has been made.
February 13. A joint venture agreement was executed with INMOBILIARIA CONTEL S.R.L.C.V. (CONTEL) for the first tract of land of approximately 300 acres for agriculture use in Baja California, Mexico. The land has since been developed and prepared for active farming with three wells providing an abundance of water (700 Gallons/minute) and is now being actively shown and marketed to potential buyers, with several parties showing serious interest.
February 17. The earlier outstanding Convertible Debenture of $476,000, was assumed by EIG Venture Capital Ltd., the company's main shareholder, in exchange for Preferred Stock in the company.
February 22. The company signed a capital injection commitment for a total of $300,000 from Jan Telander, CEO of the Company, Ulf Telander, CEO of EIG Venture Capital Ltd., and Frederic Telander, CEO of Soltech Energy Sweden AB, clearly demonstrating confidence and belief in the future of the company.
March 8. The acquisition of American Residential Gap LLC (ARG) was finalized, bringing its 14 properties on to PROGREEN's books, adding a net asset value of $1,285,000 to the balance sheet. The acquisition was a pure paper transaction with full payment being made by issuance of Special Preferred Stock to American Residential Fastigheter AB (ARG's previous sole member), convertible into common stock by March 8, 2017. The conversion price will be based on the average market price for the 20 preceding trading days of March 8, 2017. The Preferred Stock can also be paid off in cash.
March 28. The last of the "toxic" convertibles with institutional lenders, was fully converted.
May 14. A second Joint Venture Agreement was signed with CONTEL for two parcels of land, 235 Ha (588 acres) and 529 Ha (1323 acres) respectively. The land will be prepared and developed for agriculture use, to be leased to growers of produce.
June 17. PROCON BAJA JV was formed in Ensenada, Mexico, as a holding company for the JV signed on May 14. The company is owned by PROGREEN to 51% and CONTEL 49%, and will be managed by a board of Managing Directors consisting of three members, with two representing PROGREEN. At all times, at least two directors' approval will be needed for management decisions or financial transactions, giving PROGREEN, in effect, full operational control. As a majority shareholder, PROGREEN will be able to reflect its assets in Baja on the balance sheet.
June 23. PROGREEN signs definitive agreement with Tangiers Global, for a $5 million Equity Line. A maximum of 100 million shares will be registered in a S-1 Registration Statement for this funding. A note for $22,000 was also issued to cover the cost of the registration statement. The Note is convertible into common stock after six months, at a fixed price of $0.03. Tangiers was also issue 4 million warrants as commitment fee, with a strike price of $0.02.
New direction in Michigan
With steadily rising property prices here in Michigan, we find that rents cannot keep up at the same rate, resulting in lower yielding properties, if based on present values. This has led us to a change of direction.
Many potential home buyers are still today unable to obtain conventional mortgages and are therefore practically excluded from the property market. We have concluded that offering our rental properties for sale with seller financing, can be very beneficial for the company. We are able to obtain higher prices than with conventional financing, with very limited competition in the market place of properties with this type of financing. Recently sold two of our properties were sold with land contracts and a third is expected to close in July.
Outlook for the rest of 2016
We have now commenced work in Baja on the second JV tract of land of some 1900 acres, with 500-800 estimated to be suitable as prime agriculture land. Initially we will be preparing the access road (6 miles), clearing land and drilling wells.
PROGREEN is currently also looking at a number of different options, to find a suitable builder/contractor to partner up with for investment opportunities with solar technology and energy efficiency. We have an established a relationship with Soltech Energy Sweden AB, and are aiming to implement their Solar Shingle Technology in future building projects.
It is our goal to up-list off of the pink sheets to the OTCQB in the near future and show investors that we are building a strong company with a clean balance sheet as well as a steady revenue streams.
Key Highlights
PROGREEN Completes $1,285,000 Acquisition of American Residential Gap LLC
PROGREEN Receives Important Capital Injection - $300,000
Toxic Debenture Conversion Completed
PROGREEN Forms Mexican Subsidiary -- PROCON BAJA JV
PROGREEN Launches New Website ProGreenUS.com
PROGREEN signs $5 million equity line of credit
Aug 2016
ProGreen Plans to Reduce the Number of Authorized Shares
http://www.marketwired.com/press-release/prog...151081.htm
Sept 2016
ProGreen Uplists to OTCQB
http://www.marketwired.com/press-release/prog...158315.htm
Nov 2016
ProGreen Gets Further Funding From the CEO
http://www.marketwired.com/press-release/prog...177719.htm
Dec 2016
ProGreen Reduces Authorized Shares of Common Stock
http://www.marketwired.com/press-release/prog...181501.htm
Dec 2016
ProGreen's JV Partner Contel Enters Into Agriculture Operations in Baja California
http://www.marketwired.com/press-release/prog...182908.htm
Jan 2017
Contel Signs Million Dollar Produce Agreement
http://www.marketwired.com/press-release/cont...190116.htm
Feb 2017
$5 Million Equity Line Declared Effective
http://www.marketwired.com/press-release/5-mi...192686.htm
Feb 2017
ProGreen's Subsidiary Procon Acquires 5,100 Acres of Ocean Front Land in Baja
http://www.marketwired.com/press-release/prog...192960.htm
Informational Blog posts by PGUS CEO Jan Telander. Another must read for those conducting research on the company.
2016-05-31 12:09:11 BAJA WATER UPDATE VIDEO
https://www.youtube.com/watch?v=xmz5kYqZihM https://www.youtube.com/watch?v=BTczDpYjY_E
1. Our CEO (Jan Telander) and SolTech's CEO (Frederic Telander) obviously have the same last name. I have personally contacted our CEO and he confirmed that Frederic (SolTech CEO) is his cousin.
2. Our CEO (Jan Telander) is a major shareholder of SolTech owning 927,162 shares.
Frederick Telander owns 1,545,259 SolTech shares
Links to SolTech Energy Product line :
http://www.soltechenergy.com/en/products/soltech-supreme-en/
ProGreen Invited to Live Stream Online Conference Call !!!!!!!
Thursday, February 23 at 4:15 PM (EST), The public is invited to listen in, at investorshangout.com/live
https://www.youtube.com/watch?v=tQIPofOm0-Y
PGUS
www.progreenus.com
Updated Feb. 4th 2017
Authorized Shares 950M
Outstanding Shares 349.91M
Restricted Shares 103.94M
Free Float 224M
CEO Mr. Jan Telander is the proud owner of 22,062,409 common shares purchased at various share prices ranging from $.0006 to $.0241 PPS
ProGreen Properties Inc. changes Name to ProGreen US, Inc.
"We are changing our name to better reflect the expansion of the company's business activities going forward, investment in agriculture land in Baja California, further planning for residential and commercial real estate developments in the area, with integration of advanced solar technology. Our newly formed subsidiary, ProCon Baja JV, based in Ensenada, Mexico, is expected to contribute importantly to the future growth of the company", says Jan Telander, CEO.
MISSION STATEMENT
ProGreen's mission has been focused on building value by improving on conventional landscapes. We always aim to do what's environmentally friendly, whether it is rehabilitating older homes into more energy efficient and healthier living spaces or turning desert landscapes into productive organic farms. Health and sustainability has always been in the forefront of our thinking. ProGreen will continue to look at projects that will improve the lives of people and have a net positive effect on our planet
"These interviews with Mr. Telander really puts PGUS into perspective. The interviews are a must listen if one is conducting DD or thinking about investing with PGUS
https://upticknewswire.com/uptick-network-int...erties-inc
Interview with ProGreen CEO Jan Telander (Uptick Newswire Podcast)
http://upticknewswire.com/jan-telander-ceo-of...rofitable/
Jan Telander, President and CEO
An accomplished businessman, Jan Telander’s success in business spans over more than three decades. Mr. Telander began his lengthy tenure of developing and directing several successful business models in the early 70s. In the last few years Mr. Telander has had major successes including starting up Soltech a leading solar technology company in Sweden and China. In Spain Mr. Telander is responsible for the building of over 500 homes.
In Spain, Sweden, the UK and in the United States, he is recognized for his record of success in real estate developments and construction, private investment dealings, the acquisition and tailoring of start-up companies, including a new solar technology company. Mr. Telander’s strong belief in energy efficiency and green technology has become a focal point in his present evaluation of business opportunities. As the founder and leader of ProGreen, Mr. Telander’s vision for success has now led him to look at Baja California as a great opportunity for future developments. ProGreen has until now been exclusively involved in real estate in Oakland County, Michigan, but has now started to look into other areas with great opportunities. At present the company is looking into possible development opportunities in Oklahoma and expansion of their on going efforts in Baja.
Meet the PGUS Management Team
Michael Hylander, Company Director
Christina Lombera, Principal Broker
Kristen Gard, Office Manager
PGUS Subsidiary ( Procon Baja JV, Inmobiliaria Contel )
Procon Baja JV is our joint venture subsidiary with Inmobiliaria Contel in Baja California, Mexico, with ProGreen 51% and Contel 49%. The company is managed by a board of Managing Directors consisting of three members, with two representing ProGreen and one representing Contel. At least two Managing Directors approval is required for major decisions and financial transactions, giving ProGreen full control.
Procon Team Members
Procon Baja JV General Manager
Alejandro Espinoza Arroyo
Alejandro, an accomplished Civil Engineer, will first be working as a consultant to Procon, responsible for producing the topographical plan needed to create the Master Plan for the development, Cielo Mar. Once this has been completed, Alejandro will come onboard full time as the General Manager to lead the development. He will also be building the right support team.
Age: 59
Location: Ensenada, Baja California, Mexico
EDUCATION
1995 AUTONOMOUS UNIVERSITY OF BAJA CALIFORNIA (Ensenada)
Land Boundary Surveyor
1993 AUTONOMOUS UNIVERSITY OF BAJA CALIFORNIA
Diploma of Foreign Trade and Customs
1984 to 1989 AUTONOMOUS UNIVERSITY OF BAJA CALIFORNIA (Ensenada)
Degree in Civil Engineering for ports and marinas
1977 to 1982 AUTONOMOUS UNIVERSITY OF BAJA CALIFORNIA (Mexicali)
Degree in Architecture
WORK EXPERIENCE
2016 ADVISER: THE CIVIL ASSOCIATION "FOUNDERS OF EL ROSARIO"
Mission: to obtain the legalization of ownership, before the three levels of government, of all the properties in El Rosario, including agriculture land and residential properties
2015 SURVEYING AND CERTIFYING TOPOGRAPHIC PLANS
2008-2014 VARIOUS
PLAN MANAGER, housing and topography of Baja California for the municipalities of Tijuana, Tecate, and Rosarito Beaches
MANAGEMENT POSTS - having in charge and command teams of engineers and topographers for urban projects, as well as a link between institutions
June 1999-March 2008 DESIGNATED HEAD OF CONSTRUCTION, REPRESENTING THE GOVERNMENT OF THE STATE OF BAJA CALIFORNIA, MUNICIPALITY OF ENSENADA
Managed approximately 750 construction projects, executed for the infrastructure in various specialties; being mainly in educational, hospital, penitentiary, cultural, sports, public offices, streets and diverse work. Led a staff of supervisors for these projects.
Handled approximately 500 public tenders (offers for open bids) of very diverse government work, in the areas of educational, hospital, sports, penitentiary, cultural infrastructure, public offices, roads, voice and data transmission antennas on high mountains.
1997 OFFICIAL LAND SURVEYOR for the municipality of Ensenada
1993-1999 Export activities of fishery products to ten cities of Japan, with seat in Ensenada, Mexico; Los Angeles, USA; Fukuoka and Kagoshima, Japan; MARKETING OF FISHERY PRODUCTS IN 13 CITIES OF JAPAN
1996 Export activities to two cities of Korea (Cheju and Seoul)
1995 Land Boundary Surveyor for the municipality of Ensenada, Baja California
1984-1994 Head Project and Construction Engineer
1988-1990 AUXILIARY TEACHER in the Engineering School, UABC-Ensenada
1991 Supervisor of education for federal governmental work, for the municipality of Ensenada
1983-1998 TOPOGRAPHIC PROJECTS (150)
1979-1998 DESIGN AND EXECUTION OF PRIVATE BUILDING PROJECTS (300)
1979-1981 CONSTRUCTION PROJECTS IN MEXICALI, BC
IN THE FIELD OF CULTURE
Since 1972 Researcher, the history of Baja California
1985-1986 Collaborations with West Lafayette University
Since 1992 Writer and Historian, Baja California
Since 1992 President of the cultural commission of El Rosario
Since 1992 Collaborator of the National Institute of Anthropology and History
Since 1992 Collaborator of the National Council of Culture and the Arts
Since 1992 Author of multiple historical conferences
1993-94 Speaker in various history forums, Baja California
1993 PAC-MYC Award Winner, Tijuana, Baja California
October 1994 Founder of the community museum "El Rosario"
Since 1994 Leader for the collections that form the museum
Since 1994 Responsible for the community museum "El Rosario"
1995 Support for television program on paleontology research
1995 Speaker "V cultural forum" Tecate, Baja California
1995 PAC-MYC Award Winner, Tijuana, Baja California
2003 PAC-MYC Prize Winner in Baja California
AS A HISTORIAN AND WRITER OF TWO PRINTED BOOKS ON THE HISTORY OF BAJA CALIFORNIA :
1992 "LOS ROSAREÑOS"; MEMORIES OF THE BIRTH AND LIFE OF A VILLAGE “BAJACALIFORNIANO” 1774-1992
Oct-2007 "ESPINOZA LINEAGE"; SO OUR PIONEERS SURVIVED
Published in magazines of historical literature "Voices of the peninsula", newspaper "the lookout", cultural agenda of the Culture of Baja California (ICBC); In the Sonoran institute of culture, and society Sonoran history.
Various interviews in radio and television in the city of Ensenada, by Don Luis Mario Lamadrid Moreno, and by Mr. Francisco Vargas.
Nov-2007 representative of the institute of culture of baja california in Hermosillo, Sonora, for the international forum "v forum of the missions of northwestern Mexico: origin and destination"
1972 Writer of 'memories Baja California'
2007 Published research 'memories Baja California' on the Internet, including dates with 122 articles, which can be found at www.elrosariobc.blogspot.com
President of the Civil Association 'we work for my historic village and I', A.C., which rehabilitates the cultural and municipal historical missionary Pantheon, founded in 1802, El Rosario, Baja California.
PGUS Business Updates:
July 5 2016
ProGreen US Open Letter to Shareholders:
Recently we have begun focusing on opportunities in Mexico, through investments in agricultural land in Baja California. We anticipate to increase this activity substantially over time.
Goals for the next 12-18 months
* Create a substantial revenue stream from our agriculture land developments in Baja
* Commence property developments in Baja as well as in the US.
* Enter into a formal agreement with Soltech Energy Sweden AB and apply their solar technology to suitable properties developed by ProGreen in the US and Baja.
* Broaden our shareholder base through regular communication and interaction with shareholders and the investment community at large.
* Get the company moved up to OTCQB and move the company toward a Nasdaq listing.
Transparency towards our shareholders
True transparency of the company's activities and progress in respect to shareholders, we see as essential to attract long term investors and create shareholder loyalty. Keep the public well informed with an open line of communication, channeled mainly through our new website ProGreenUS.com, with attached Twitter feed, message board, ticker news, press releases, and share structure (updated first week of every month). We will also expand our exposure to the public through other suitable social media, webinars and investor presentations, reflecting the mission of transparency as well as growth of the company, to serve as a true barometer of PROGREEN.
The new PROGREEN
Over the past 6 months we have been working very hard with turning the company around and some significant progress has been made.
February 13. A joint venture agreement was executed with INMOBILIARIA CONTEL S.R.L.C.V. (CONTEL) for the first tract of land of approximately 300 acres for agriculture use in Baja California, Mexico. The land has since been developed and prepared for active farming with three wells providing an abundance of water (700 Gallons/minute) and is now being actively shown and marketed to potential buyers, with several parties showing serious interest.
February 17. The earlier outstanding Convertible Debenture of $476,000, was assumed by EIG Venture Capital Ltd., the company's main shareholder, in exchange for Preferred Stock in the company.
February 22. The company signed a capital injection commitment for a total of $300,000 from Jan Telander, CEO of the Company, Ulf Telander, CEO of EIG Venture Capital Ltd., and Frederic Telander, CEO of Soltech Energy Sweden AB, clearly demonstrating confidence and belief in the future of the company.
March 8. The acquisition of American Residential Gap LLC (ARG) was finalized, bringing its 14 properties on to PROGREEN's books, adding a net asset value of $1,285,000 to the balance sheet. The acquisition was a pure paper transaction with full payment being made by issuance of Special Preferred Stock to American Residential Fastigheter AB (ARG's previous sole member), convertible into common stock by March 8, 2017. The conversion price will be based on the average market price for the 20 preceding trading days of March 8, 2017. The Preferred Stock can also be paid off in cash.
March 28. The last of the "toxic" convertibles with institutional lenders, was fully converted.
May 14. A second Joint Venture Agreement was signed with CONTEL for two parcels of land, 235 Ha (588 acres) and 529 Ha (1323 acres) respectively. The land will be prepared and developed for agriculture use, to be leased to growers of produce.
June 17. PROCON BAJA JV was formed in Ensenada, Mexico, as a holding company for the JV signed on May 14. The company is owned by PROGREEN to 51% and CONTEL 49%, and will be managed by a board of Managing Directors consisting of three members, with two representing PROGREEN. At all times, at least two directors' approval will be needed for management decisions or financial transactions, giving PROGREEN, in effect, full operational control. As a majority shareholder, PROGREEN will be able to reflect its assets in Baja on the balance sheet.
June 23. PROGREEN signs definitive agreement with Tangiers Global, for a $5 million Equity Line. A maximum of 100 million shares will be registered in a S-1 Registration Statement for this funding. A note for $22,000 was also issued to cover the cost of the registration statement. The Note is convertible into common stock after six months, at a fixed price of $0.03. Tangiers was also issue 4 million warrants as commitment fee, with a strike price of $0.02.
New direction in Michigan
With steadily rising property prices here in Michigan, we find that rents cannot keep up at the same rate, resulting in lower yielding properties, if based on present values. This has led us to a change of direction.
Many potential home buyers are still today unable to obtain conventional mortgages and are therefore practically excluded from the property market. We have concluded that offering our rental properties for sale with seller financing, can be very beneficial for the company. We are able to obtain higher prices than with conventional financing, with very limited competition in the market place of properties with this type of financing. Recently sold two of our properties were sold with land contracts and a third is expected to close in July.
Outlook for the rest of 2016
We have now commenced work in Baja on the second JV tract of land of some 1900 acres, with 500-800 estimated to be suitable as prime agriculture land. Initially we will be preparing the access road (6 miles), clearing land and drilling wells.
PROGREEN is currently also looking at a number of different options, to find a suitable builder/contractor to partner up with for investment opportunities with solar technology and energy efficiency. We have an established a relationship with Soltech Energy Sweden AB, and are aiming to implement their Solar Shingle Technology in future building projects.
It is our goal to up-list off of the pink sheets to the OTCQB in the near future and show investors that we are building a strong company with a clean balance sheet as well as a steady revenue streams.
Key Highlights
PROGREEN Completes $1,285,000 Acquisition of American Residential Gap LLC
PROGREEN Receives Important Capital Injection - $300,000
Toxic Debenture Conversion Completed
PROGREEN Forms Mexican Subsidiary -- PROCON BAJA JV
PROGREEN Launches New Website ProGreenUS.com
PROGREEN signs $5 million equity line of credit
Aug 2016
ProGreen Plans to Reduce the Number of Authorized Shares
http://www.marketwired.com/press-release/prog...151081.htm
Sept 2016
ProGreen Uplists to OTCQB
http://www.marketwired.com/press-release/prog...158315.htm
Nov 2016
ProGreen Gets Further Funding From the CEO
http://www.marketwired.com/press-release/prog...177719.htm
Dec 2016
ProGreen Reduces Authorized Shares of Common Stock
http://www.marketwired.com/press-release/prog...181501.htm
Dec 2016
ProGreen's JV Partner Contel Enters Into Agriculture Operations in Baja California
http://www.marketwired.com/press-release/prog...182908.htm
Jan 2017
Contel Signs Million Dollar Produce Agreement
http://www.marketwired.com/press-release/cont...190116.htm
Feb 2017
$5 Million Equity Line Declared Effective
http://www.marketwired.com/press-release/5-mi...192686.htm
Feb 2017
ProGreen's Subsidiary Procon Acquires 5,100 Acres of Ocean Front Land in Baja
http://www.marketwired.com/press-release/prog...192960.htm
Informational Blog posts by PGUS CEO Jan Telander. Another must read for those conducting research on the company.
2016-05-31 12:09:11 BAJA WATER UPDATE VIDEO
https://www.youtube.com/watch?v=xmz5kYqZihM https://www.youtube.com/watch?v=BTczDpYjY_E
1. Our CEO (Jan Telander) and SolTech's CEO (Frederic Telander) obviously have the same last name. I have personally contacted our CEO and he confirmed that Frederic (SolTech CEO) is his cousin.
2. Our CEO (Jan Telander) is a major shareholder of SolTech owning 927,162 shares.
Frederick Telander owns 1,545,259 SolTech shares
Links to SolTech Energy Product line :
http://www.soltechenergy.com/en/products/soltech-supreme-en/
ProGreen Invited to Live Stream Online Conference Call !!!!!!!
Thursday, February 23 at 4:15 PM (EST), The public is invited to listen in, at investorshangout.com/live
https://www.youtube.com/watch?v=tQIPofOm0-Y
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