SAN DIEGO, March 21, 2018 /PRNewswire/ — ProGreen US, Inc. (ProGreen) (OTCQB:PGUS), a San Diego-based company with land development projects in Baja California, Mexico, today announced that CBRE Group, Inc., has delivered the review draft for the appraisal of its Cielo Mar property, in which the “as is” market value of $42 million (USD) is concluded.
“We are pleased to have the valuation concluded by CBRE,” says Jan Telander, CEO of ProGreen. “With the appraisal in hand, we will be able to proceed with the next steps in our plan for a larger loan financing for the company’s operations, and furthering our Baja California projects.”
The final appraisal report, once received, will be made available for public viewing.
Cielo Mar – The Future of Living: Located in the Bay of Rosario, on the Pacific coast of Baja California, Cielo Mar is being planned as a totally green, 5,000-acre resort-style vacation and retirement community. With a year-round climate very similar to San Diego, this planned development gets its name from “cielo,” meaning “heaven,” and “mar,” which means “sea” – making Cielo Mar “Heaven By The Sea.”
This press release might contain information, which may constitute ‘forward-looking statements’ within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. ‘Forward-looking statements’ are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated.