SAN DIEGO, CA–(Marketwired – Jul 26, 2017) – ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), www.ProGreenUS.com, Twitter @ProGreenUS; ProGreenUS, Inc., previously located in Bloomfield, Michigan, has moved its headquarters to San Diego, California. Concurrent with this move, the company also opened an office for its subsidiary operations in Ensenada, BC, Mexico. This completes a profound transformation of the company’s business that began with the signing of a strategic joint venture agreement with Inmobiliaria Contel 18 months ago, giving the JV access to very large tracts of land for agricultural use in Baja California, Mexico.
“The establishment of the West Coast offices represents the sea change that ProGreen has undergone over the past 6 months,” says Jan Telander, President & CEO of ProGreen. “We are now in a totally different position, with enormous opportunities for, not only the short term, but also for the intermediate as well as the long term.”
ProGreen’s agricultural business investment, headed by the company’s joint venture partner, Contel, launched its farming operations in January of this year, with the signing of a $1M+ sales agreement for chili peppers with a major produce importer/exporter to the U.S. market. 1.9 million pepper plants have been planted on the first ProGreen Farms™ farm, with the impending harvest expected to yield millions of pounds of chili peppers through November. The excellent results, expected already from this first year of production, has set the base for very aggressive expansion plans, going forward.
Also in January, ProGreen, through its majority-owned subsidiary Procon Baja JV, acquired a 5,000-acre tract of oceanfront land, for which a master plan is currently being created, for the development of a very large, totally green, resort-style international vacation and retirement community called “Cielo Mar” (see: www.cielomarbaja.com). Very early public interest in this project, led to that we launched a first pre-sales offer for lot reservations in April, which we closed after receiving 25 reservations within a few weeks. A second offer of 50 additional lots, is expected to be launched next week.
“We now see a clear way towards a strong consolidation of the company on the financial front, and the close proximity of the two offices will enable ProGreen to efficiently manage the rapidly expanding business activities in Baja,” said Jan.
ProGreen US, Inc.
2667 Camino del Rio South
San Diego, CA 92108-3763
Procon Baja JV (and Contel Inmobiliaria S.R.L.C.V.)
Lázaro Cárdenas 1094 Local 1 y 2
22800 Ensenada, B.C. Mexico
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