BLOOMFIELD HILLS, MI–(Marketwired – Mar 31, 2016) – ProGreen Properties, Inc. (ProGreen), (OTC PINK: PGEI), is pleased to announce that the company’s last outstanding institutional convertible note has now been fully converted. The company is now in a much stronger financial position, as its total outstanding debt has now been reduced to the $200,000 owed to American Fastigheter AB (Amrefa), which is non-convertible, does not carry interest and will be paid off with proceeds from the sale of one of the 14 properties included in the ARG acquisition, announced earlier in the month.
“This removes the last of the earlier dilutive debt and we can now clearly see the path forward without this type of ‘overhang,'” says Jan Telander, President & CEO of ProGreen.
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