SAN DIEGO, May 21, 2018 /PRNewswire/ — ProGreen US, Inc. (ProGreen) (OTCQB:PGUS), a San Diego-based company with real estate and agriculture land development projects in Baja California, Mexico, disclosed today that the company received letters of interest/intent at the end of last week from two lenders to provide bridge funding in the amounts of $3M and $5M (USD), respectively. The company will choose between the two this week, to proceed with the underwriting due diligence.
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To learn more about ProGreen’s projects, visit: https://www.progreenus.com/
“The LOI’s are for conventional, non-convertible loan financing, that will give us the capital to take out convertible notes and other debt, as well as for speeding up both our agriculture and real estate projects,” said Jan Telander, CEO of ProGreen.
“We are now also negotiating a larger $20M long-term financing with several groups,” added Jan.