BLOOMFIELD HILLS, MI–(Marketwired – Jan 5, 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 U.S. 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 & CEO of ProGreen.
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