PROGREEN US, INC. (OTCMKTS:PGUS) Files An 8-K Other Events
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 Pblico (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.
About PROGREEN US, INC. (OTCMKTS:PGUS)
ProGreen US, Inc. (ProGreen), formerly ProGreen Properties, Inc., owns and manages residential real estate rental property in the Oakland County, Michigan area. The Company is engaged in acquiring, refurbishing and upgrading residential real estate. The Company purchases residential real estate apartment homes, condominiums and houses in the State of Michigan. The Company is focusing its investments and interest in agricultural land in Baja California, Mexico. The Company’s investment properties are marketed by ProGreen Realty LLC, a subsidiary of ProGreen and managed by its subsidiary, Progreen Properties Management LLC. In addition, the Company’s subsidiary, ProGreen Construction LLC, performs various construction and development services for properties, which are held and under development. As of April 30, 2016, the Company owned 14 properties. PROGREEN US, INC. (OTCMKTS:PGUS) Recent Trading Information
PROGREEN US, INC. (OTCMKTS:PGUS) closed its last trading session up +0.0018 at 0.0228 with 332,300 shares trading hands.