ProGreen US, Inc. (OTCQB: PGUS) Breaking News -
May 31, 2017
ProGreen’s Baja Development Reaches 80% of First Pre-Sales Lot Reservations
BLOOMFIELD TOWNSHIP, MI -- (Marketwired) -- 05/31/17 -- ProGreen US,
Inc. (OTCQB: PGUS),
(ProGreen), www.ProGreenUS.com - @ProGreenUS,
is a US company engaged primarily with investments in agricultural and real
estate projects in Baja California, Mexico, both through its joint venture
partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its
majority-owned Mexican subsidiary Procon Baja JV (Procon),
www.CieloMarBaja.com
ProGreen is very pleased to communicate that the First Reservation Offer for its
ocean front development in Baja California, Cielo Mar, is drawing to a close. 24
of the 30 lots that were offered now have executed reservation agreements,
leaving only 6 available with one additional reservation request pending. There
are also 6 commitments for early construction, once the planning has been
approved. See details at
https://www.cielomarbaja.com/first-reservation-offer/
Revenue from these reservations, once the definitive purchase agreements have
been executed, is expected to be close to $3.5 million USD including the
construction of 6 houses.
“In February we set a preliminary goal to sell 25 lots during the first year. As
we already have 24 lot purchase reservations since launching the offer in late
April, we do expect to present a substantially revised goal in the near future”,
says Jan
Telander, President and CEO.
Websites:
www.ProGreenUS.com
www.CieloMarBaja.com
Follow us on social media:
https://www.facebook.com/ProGreenFarms/
https://www.facebook.com/cielomarbajacamx/
https://twitter.com/ProGreenUS
https://progreenus.wordpress.com/
About ProGreen US, Inc.
PROGREEN US, INC., www.ProGreenUS.com
based in Bloomfield, Michigan, is engaged primarily with investments in
agricultural and real estate projects in Baja California, Mexico, both through
its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) as
well as through its majority-owned Mexican subsidiary Procon Baja JV (Procon).
Contel is now active in the high margin produce industry, growing crops for
exporters to the US market, with an abundance of land available for expansion
under our JV partnership. Procon has recently acquired 5,100 acres of land with
4.7 miles of oceanfront on the Bay of El Rosario, for which a master plan is
being drawn for the development of a very large, totally green, international
vacation and retirement community called "Cielo Mar."
Independent Stock Message Forum:
http://investorshangout.com/ProGreen-US-PGUS-65470/
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.
CONTACT INFORMATION ProGreen US, Inc. Jan Telander
President and CEO
Jan@ProGreenUS.com
Phone: 1 (248) 805-3652
www.ProGreenUS.com
Source: ProGreen US, Inc.
_____________________________
Recent ProGreen News:
ProGreen Launches New Company
Website
BLOOMFIELD TOWNSHIP, MI -- (Marketwired) -- 05/30/17 -- ProGreen US,
Inc. (OTCQB: PGUS),
(ProGreen), www.ProGreenUS.com - @ProGreenUS,
is a US company engaged primarily with investments in agricultural and real
estate projects in Baja California, Mexico, both through its joint venture
partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its
majority-owned Mexican subsidiary Procon Baja JV (Procon),
www.CieloMarBaja.com
ProGreen is pleased to announce the launch of the newly built ProGreenUS.com
website. The site is hosted on a new platform and will go live at noon today.
The new website platform makes it possible for ProGreen to provide ongoing
updates, necessary for the increasing amount of new information that will
continuously be added.
"We believe that our new website will better show the company's expanding
business involvement in Baja California with agricultural and real estate
projects, as well as allow the public to more easily follow the progress," says
Jan Telander,
President and CEO.
Websites:
www.ProGreenUS.com
www.CieloMarBaja.com
Follow us on social media:
https://www.facebook.com/ProGreenFarms/
https://www.facebook.com/cielomarbajacamx/
https://twitter.com/ProGreenUS
https://progreenus.wordpress.com/
About ProGreen US, Inc. PROGREEN US, INC.,
www.ProGreenUS.com based in Bloomfield, Michigan, is engaged primarily
with investments in agricultural and real estate projects in Baja California,
Mexico, both through its joint venture partnership with Inmobiliaria Contel
S.R.L.C.V. (Contel) as well as through its majority-owned Mexican subsidiary
Procon Baja JV (Procon). Contel is now active in the high margin produce
industry, growing crops for exporters to the US market, with an abundance of
land available for expansion under our JV partnership. Procon has recently
acquired 5,100 acres of land with 4.7 miles of oceanfront on the Bay of El
Rosario, for which a master plan is being drawn for the development of a very
large, totally green, international vacation and retirement community called "Cielo
Mar."
Independent Stock Message Forum:
http://investorshangout.com/ProGreen-US-PGUS-65470/
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.
CONTACT INFORMATION ProGreen US, Inc. Jan Telander
President and CEO
Jan@ProGreenUS.com
Phone: 1 (248) 805-3652
www.ProGreenUS.com
Source: ProGreen US, Inc.
ProGreen Completes Funding For
First Agriculture Operations In Baja California
BLOOMFIELD TOWNSHIP, MI -- (Marketwired) -- 05/18/17 -- ProGreen US,
Inc. (OTCQB: PGUS),
(ProGreen), www.ProGreenUS.com - @ProGreenUS,
is a US company engaged primarily with investments in agricultural and real
estate projects in Baja California, Mexico, both through its joint venture
partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its
majority-owned Mexican subsidiary Procon Baja JV (Procon), www.CieloMarBaja.com.
Jan Telander, President and CEO of ProGreen, comments on the company's
agriculture project in Baja California:
"I am very pleased with the progress in Baja, and have the following update on
the funding and development of the agriculture operations.
"The company has taken on several notes during this year as bridge financing,
partly for our real estate project, Cielo Mar, but mainly to fund the necessary
investments for development of, as well as operational costs for our first farm,
Arenoso.
"All money invested in the agriculture operations is considered as loan, as per
the JV with Contel, referred to in the press release dated January 23, 2017. We
expect the loan to be repaid from revenues generated by this year's harvest,
with substantial annual yields to follow for years to come.
"With the financing disclosed in the 8K, and the Form D for compliance, filed
yesterday, we don't see any need for further bridge financing at this time. It
is our full intention, as mentioned in earlier press releases, to pay off bridge
financing notes in cash, as opposed to allowing them to convert. We believe we
are now fully funded until such time that the income from the first harvest
starts flowing, expected in July.
"We have just published aerial videos and photos of the ProGreen Farm - Arenoso
- on ProGreenUS.com (on the agriculture project page), where you can see the
scope and the present state of this agriculture development. We will add new
photos and videos periodically.
"We plan to begin further agriculture land development as soon as we have the
harvest underway, in line with our expansion plans for 2018."
Websites:
www.ProGreenUS.com
www.CieloMarBaja.com
Follow us on social media:
https://www.facebook.com/ProGreenFarms/
https://www.facebook.com/cielomarbajacamx/
https://twitter.com/ProGreenUS
https://progreenus.wordpress.com/
About ProGreen US, Inc.
PROGREEN US, INC., www.ProGreenUS.com, based in Bloomfield, Michigan, is engaged
primarily with investments in agricultural and real estate projects in Baja
California, Mexico, both through its joint venture partnership with Inmobiliaria
Contel S.R.L.C.V. (Contel) as well as through its majority-owned Mexican
subsidiary Procon Baja JV (Procon). Contel is now active in the high margin
produce industry, growing crops for exporters to the US market, with an
abundance of land available for expansion under our JV partnership. Procon has
recently acquired 5,100 acres of land with 4.7 miles of oceanfront on the Bay of
El Rosario, for which a master plan is being drawn for the development of a very
large, totally green, international vacation and retirement community called "Cielo
Mar."
Independent Stock Message Forum:
http://investorshangout.com/ProGreen-US-PGUS-65470/
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.
ProGreen US, Inc.
Jan Telander
President and CEO
Jan@ProGreenUS.com
Phone: 1 (248) 805-3652
www.ProGreenUS.com
Source: ProGreen US, Inc.
ProGreen Accelerates HQ Move
to San Diego
BLOOMFIELD TOWNSHIP, MI -- (Marketwired) -- 05/10/17 -- ProGreen US,
Inc. (OTCQB: PGUS),
(ProGreen), www.ProGreenUS.com - @ProGreenUS,
is a US company engaged primarily with investments in agricultural and real
estate projects in Baja California, Mexico, both through its joint venture
partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its
majority-owned Mexican subsidiary Procon Baja JV (Procon), www.CieloMarBaja.com.
It was previously disclosed, that ProGreen was planning to move its headquarters
to San Diego by the end of summer 2017. As a result of the strong progress and
milestones achieved with the agriculture as well as the real estate projects,
the company is now planning the move for the month of June. Moving our
operations to San Diego will considerably improve our ability to manage the
Company's quickly expanding activities in Baja. Due to increased efforts to sell
our property portfolio in Michigan, the sale of the company's largest property
was closed on April 28, and two more are now under contract.
ProGreen is also pleased to announce that the company has established an office
location in Ensenada, that will serve as headquarters for all of our activities
in Baja California. Both Procon and Contel will operate from this location. Once
the master plan for the 5000-acre oceanfront resort community is completed and
the marketing of Cielo Mar commences, the office will also host a permanent
property exhibition for the development.
"We are excited about the fast pace of progress, and with the move to San Diego,
I will be able to have a more 'hands on' approach in the growth of the
business," states Jan Telander, President and CEO.
Additional information on ProGreen's activities in the Baja agriculture industry
and Cielo Mar can be found on the websites and social media listed below.
Websites:
www.ProGreenUS.com
www.CieloMarBaja.com
Follow us on social media:
https://www.facebook.com/ProGreenFarms/
https://www.facebook.com/cielomarbajacamx/
https://twitter.com/ProGreenUS
https://progreenus.wordpress.com/
About ProGreen US, Inc.
PROGREEN US, INC., www.ProGreenUS.com, based in Bloomfield, Michigan, is engaged
primarily with investments in agricultural and real estate projects in Baja
California, Mexico, both through its joint venture partnership with Inmobiliaria
Contel S.R.L.C.V. (Contel) as well as through its majority-owned Mexican
subsidiary Procon Baja JV (Procon). Contel is now active in the high margin
produce industry, growing crops for exporters to the US market, with an
abundance of land available for expansion under our JV partnership. Procon has
recently acquired 5,100 acres of land with 4.7 miles of oceanfront on the Bay of
El Rosario, for which a master plan is being drawn for the development of a very
large, totally green, international vacation and retirement community called "Cielo
Mar."
Independent Stock Message Forum:
http://investorshangout.com/ProGreen-US-PGUS-65470/
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.
CONTACT INFORMATION ProGreen US, Inc.
Jan Telander
President and CEO
Jan@ProGreenUS.com
Phone: 1 (248) 805-3652
www.ProGreenUS.com
Source: ProGreen US, Inc.
Contel Enters Multi-Billion
Dollar US Produce Market
BLOOMFIELD TOWNSHIP, MI -- (Marketwired) -- 05/05/17 -- ProGreen US,
Inc. (OTCQB: PGUS),
(ProGreen), www.ProGreenUS.com - @ProGreenUS,
is a US company engaged primarily with investments in agricultural and real
estate projects in Baja California, Mexico, both through its joint venture
partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its
majority-owned Mexican subsidiary Procon Baja JV (Procon), www.CieloMarBaja.com.
ProGreen is pleased to announce that Contel has now completed the planting of
approximately 1.4 million chili pepper seedlings on 60 of the 100 acres at
Arenoso, the first ProGreen Farm, south of El Rosario, Baja California, Mexico.
Additional seedlings will be planted on the remaining 40 acres over the coming
weeks in order to stagger the harvest for operational efficiency.
The plants, currently about 8 inches in height, will be ready for the first cut
of the harvest beginning in July.
This first $1.1M+ chili pepper contract on 100 acres for Agricola Consuela, a
direct exporter/importer to the U.S., establishes Contel as a producer in a $12
billion market for imports of fruit and vegetables to the U.S. from Mexico. With
an estimated 4,000 - 5,000 acres of farmable land available, Contel has set
goals for rapid expansion of the farming operation, with a planned increase of
300% in 2018.
From the Office of the United States Trade Representative: U.S. imports of fresh
and processed fruit & vegetables from
Mexico totaled $12 billion in 2016, including fresh vegetables ($5.6 billion),
other fresh fruit ($4.9 billion), and processed fruit & vegetables ($1.5
billion). (source: https://ustr.gov/countries-regions/americas/mexico)
Websites: www.ProGreenUS.com
www.CieloMarBaja.com
Follow us on social media: https://www.facebook.com/ProGreenFarms/
https://www.facebook.com/cielomarbajacamx/
https://twitter.com/ProGreenUS
https://progreenus.wordpress.com/
About ProGreen US, Inc. PROGREEN US, INC., www.ProGreenUS.com, based in
Bloomfield, Michigan, is engaged primarily with investments in agricultural and
real estate projects in Baja California, Mexico, both through its joint venture
partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) as well as through its
majority-owned Mexican subsidiary Procon Baja JV (Procon). Contel is now active
in the high margin produce industry, growing crops for exporters to the US
market, with an abundance of land available for expansion under our JV
partnership. Procon has recently acquired 5,100 acres of land with 4.7 miles of
oceanfront on the Bay of El Rosario, for which a master plan is being drawn for
the development of a very large, totally green, international vacation and
retirement community called "Cielo Mar."
Independent Stock Message Forum:
http://investorshangout.com/ProGreen-US-PGUS-65470/
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.
ProGreen US, Inc. Jan Telander
President and CEO
Jan@ProGreenUS.com
Phone: 1 (248) 805-3652
www.ProGreenUS.com
Source: ProGreen US, Inc.
Cielo Mar Topography Reveals
Beneficial Features, Master Plan Underway, First Lot Reservations
BLOOMFIELD TOWNSHIP, MI -- (Marketwired) -- 05/03/17 -- ProGreen US,
Inc. (OTCQB: PGUS),
(ProGreen), www.ProGreenUS.com - @ProGreenUS,
is a US company engaged primarily with investments in agricultural and real
estate projects in Baja California, Mexico, both through its joint venture
partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its
majority-owned Mexican subsidiary Procon Baja JV (Procon),
www.CieloMarBaja.com
Procon is the developer of Cielo Mar, a 5,000 acre oceanfront residential/resort
project in Baja California.
With architects now actively working on the Cielo Mar master plan, Procon is
pleased to communicate that the first offer for reservations of residential lots
(total 30) -- opened on April 11 -- has achieved stronger than expected results
at this early stage. As of today, the company has executed reservations
agreements for 16 lots, representing a gross sales value of $1,180,000. Five
oceanfront lot reservations also include commitments for early building,
representing an additional value of $1,500,000 (assuming 3,000 sq.ft. homes).
With over half of the 30 lots now reserved, this first offer may already be
closed within the month of May.
The topographical plans of the Cielo Mar site have been completed and are now
posted on the development's website. These maps illustrate a terrain gradually
ascending to an elevation of 250 ft within a mile of the shoreline, continuing
to a high point of 900 ft. This provides for spectacular ocean views from a
large portion of the development. In addition, the topography revealed a natural
land cutout that could be suitable for building a more natural, inland marina.
Preliminary plans for the first execution phase include the marina, one of three
planned golf courses, upwards of 1,500 single family home sites, as well as
hotels, condominiums, sports facilities, bars, restaurants, shops and other
amenities.
Further details regarding the Cielo Mar development can be found at
www.CieloMarBaja.com .
Websites:
www.ProGreenUS.com
www.CieloMarBaja.com
Follow us on social media:
https://www.facebook.com/ProGreenFarms/
https://www.facebook.com/cielomarbajacamx/
https://twitter.com/ProGreenUS
https://progreenus.wordpress.com/
About ProGreen US, Inc.
PROGREEN US, INC., www.ProGreenUS.com, based in Bloomfield, Michigan, is engaged
primarily with investments in agricultural and real estate projects in Baja
California, Mexico, both through its joint venture partnership with Inmobiliaria
Contel S.R.L.C.V. (Contel) as well as through its majority-owned Mexican
subsidiary Procon Baja JV (Procon). Contel is now active in the high margin
produce industry, growing crops for exporters to the US market, with an
abundance of land available for expansion under our JV partnership. Procon has
recently acquired 5,100 acres of land with 4.7 miles of oceanfront on the Bay of
El Rosario, for which a master plan is being drawn for the development of a very
large, totally green, international vacation and retirement community called "Cielo
Mar."
Independent Stock Message Forum:
http://investorshangout.com/ProGreen-US-PGUS-65470/
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.
CONTACT INFORMATION ProGreen US, Inc. Jan Telander
President and CEO
Jan@ProGreenUS.com
Phone: 1 (248) 805-3652
www.ProGreenUS.com
Source: ProGreen US, Inc.
Cielo Mar Launches Pre-Sales
Reservation Offer
BLOOMFIELD TOWNSHIP, MI -- (Marketwired) -- 04/10/17 -- ProGreen US,
Inc. (OTCQB: PGUS),
(ProGreen), www.ProGreenUS.com - @ProGreenUS,
is a US company engaged primarily with investments in agricultural and real
estate projects in Baja California, Mexico, both through its joint venture
partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its
majority-owned Mexican subsidiary Procon Baja JV (Procon).
ProGreen is pleased to announce the release of a pre-sales reservation offer for
the company's planned 5,000 acre ocean front development, Cielo Mar, located on
the Pacific Coast of Baja California, Mexico. This first offer represents deep
discounts and other special advantages, and is limited to 30 Lots. Priority will
be given for commitment to early construction, and Reservation Requests will be
accepted on a first-come, first-served basis from when they are received.
Interested buyers may begin submitting requests for lot reservations on Tuesday,
April 11, from 12:00 noon (EST).
Full details about the Reservation process can be found on the Cielo Mar website
at www.CieloMarBaja.com .
Website:
www.ProGreenUS.com
www.CieloMarBaja.com
Follow us on social media:
https://twitter.com/ProGreenUS
https://progreenus.wordpress.com/
https://www.facebook.com/ProGreenFarms/
About ProGreen US, Inc.
PROGREEN US, INC., www.ProGreenUS.com, based in Bloomfield, Michigan, is engaged
primarily with investments in agricultural and real estate projects in Baja
California, Mexico, both through its joint venture partnership with Inmobiliaria
Contel S.R.L.C.V. (Contel) as well as through its majority-owned Mexican
subsidiary Procon Baja JV (Procon). Contel is now active in the high margin
produce industry, growing crops for exporters to the U.S. market, with an
abundance of land available for expansion under our JV partnership. Procon has
recently acquired 5,100 acres of land with 4.7 miles of oceanfront on the Bay of
El Rosario, for which a master plan is being drawn for the development of a very
large, totally green, international vacation and retirement community called "Cielo
Mar".
Independent Stock Message Forum:
http://investorshangout.com/ProGreen-US-PGUS-65470/
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.
ProGreen US, Inc.
Jan Telander
President and CEO
Jan@ProGreenUS.com
Phone: 1 (248) 805-3652
www.ProGreenUS.com
Source: ProGreen US, Inc.
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About ProGreen US, Inc.:
ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), www.ProGreenUS.com, @ProGreenUS, is
a US company engaged primarily with investments in agricultural and real estate
projects in Baja California, Mexico, both through its joint venture partnership
with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its majority-owned
Mexican subsidiary Procon Baja JV (Procon). Until 2016, the company was called
ProGreen Properties, Inc., and was engaged in the business of acquiring,
refurbishing and upgrading residential real estate into modern affordable homes,
some being aimed at the local real estate market and some sold to European
Property Investors.
The company’s name was changed effective July 22, 2016 to ProGreen US, Inc.,
“…to better reflect the expansion of the company’s business activities going
forward, investment in agriculture land in Baja California, further planning for
residential and commercial real estate developments in the area, with
integration of advanced solar technology.” The ticker symbol was also changed,
from PGEI to PGUS. Prior to ProGreen, Jan Telander, the Chief Executive Officer,
had been a property developer in Spain for nearly 40 years, had built several
developments with his brother, Ulf, having built and sold over 500 properties.
Jan was also a co-founder of the Swedish solar products manufacturer, SolTech
Energy Sweden AB (SOLT:FN Stockholm).
Agricultural – Business Unit
Joint venture (JV) agreements between ProGreen and Contel provide for Contel to
contribute the land to the joint venture, as well as handling all planning,
permits, preparation and construction, in order for the property to be worked,
leased or sold as prime farm land. ProGreen is responsible for providing the
financing. Under the JV agreement, ProGreen receives with priority the return of
the financed amount, from all revenue received, after which the profits are
split equally between the two parties.
Agricultural – Business Unit
Joint venture (JV) agreements between ProGreen and Contel provide for Contel to
contribute the land to the joint venture, as well as handling all planning,
permits, preparation and construction, in order for the property to be worked,
leased or sold as prime farm land. ProGreen is responsible for providing the
financing. Under the JV agreement, ProGreen receives with priority the return of
the financed amount, from all revenue received, after which the profits are
split equally between the two parties.
Through the JV agreements with Contel, ProGreen controls nearly 14,000 acres of
agricultural land in Baja – 2,200 acres plus a 3-year option on the remaining
11,500 acres. Of the total agricultural land, ProGreen expects between 4,000 to
5,000 acres may be suitable for farming, depending on the availability of water.
Some of the large remainder of the land – which could be 9,000 to 10,000 acres –
could potentially be used for commercial and residential real estate in direct
support of the farming operations and for the local economy and industry that
may develop over time as a result of these operations.
Four wells have been drilled on the first tract, producing an abundance of
water. Contel has begun their growing operation with a first produce purchase
agreement for $1.1 to $1.3 million (USD) for red chile peppers – from Agricola
El Consuela, an exporter/importer to the U.S. market – which is being grown on
the first 100 acres. The profit margin on this first crop is expected to be in
the range of 55-60%. ProGreen has stated goals for Contel to increase the
growing operation to 400 acres in 2018, 800 acres in 2019, and 1,200 acres in
2020.
Real Estate – Business Unit
ProGreen, through its Mexican subsidiary, Procon, has acquired a tract of land
on the Bay of El Rosario in Baja California that covers a total area of
approximately 5,000 acres with 4.5+ miles of oceanfront. A Master Plan is being
created for a very large resort-type retirement and vacation community with the
name “Cielo Mar” that will cover all of this land. Translated into English,
Cielo means “heaven” and Mar means “sea”, the Cielo Mar planned community thus
being “heaven by the sea.” The first phase of the development of the master plan
is underway.
Management Team for Cielo Mar Development
Alejandro Espinoza Arroyo will be joining Procon as General Manager for the
Cielo Mar development in April of this year. He is currently working as a
consultant to Procon, overseeing the production of the topographical plan that
is required for creating the Master Plan. Alejandro is an accomplished Civil
Engineer who has managed 750 construction projects and 500 public tenders,
covering a diverse range of development work for the Municipality of Ensenada,
which takes up the majority of the state of Baja California. He was also the
Plan Manager for Housing and Topography for all of the area within the
municipalities of Tijuana, Tecate, and Rosarito Beaches for several years. In
addition to his years of service as a large-scale Plan Manager and Project
Manager, Alejandro is a well-known chronicler and historian of El Rosario, Baja
California and the surrounding region.
Cielo Mar – The Community
Cielo Mar is planned as a totally green, all-solar gated community, and will
likely include the following; which can be confirmed only when the master plan
is completed – est. Fall of 2017
The site for the planned Cielo Mar community is situated on 5,000 acres of land
with about 4.5 miles of ocean front on the Pacific Coast of Baja California,
Mexico, at the Bahia de El Rosario (Bay of El Rosario).
Initially, a part of the land will be selected to constitute the first phase of
the development, to be completed with all infrastructure, i.e. water, sewage,
tarmacked roads, street lighting, and will also include some of the amenities.
This first phase will then serve as a reference for the rest of the development.
“Cielo Mar will be a gated, totally green, resort-style residential community on
the Pacific Ocean, located in Bahia de El Rosario, El Rosario, Baja California,
Mexico. Translated into English, Cielo Mar is ‘Heaven by the Sea’ ”
Having completed the Topographical Plan, development of the Master Plan for the
community is now underway, and is estimated for completion in the Fall of 2017.
This and other pages of the Cielo Mar website will be updated regularly for the
public to follow the progress of the plans for Cielo Mar.
About Contel
Jan Telander, President and CEO of ProGreen, has a partnership interest and
participates in the management of Contel, which was formed in early 2016. Contel
is a partnership between Jan and Flavio Contreras Espinoza, representing an
extended family of Mexican land owners. The intent with Jan’s interest in Contel
was to provide a suitable entity with which to involve ProGreen for the
development of properties in Baja. ProGreen cannot own agricultural properties
under Mexican law, though Jan’s partnership interest in Contel provides a level
of control with final signing authority, per the partnership agreement.
About Procon Baja JV
Procon is ProGreen’s joint venture subsidiary with Contel, and is owned by
ProGreen (51%) and Contel (49%) jointly. The company is managed by a board of
Managing Directors consisting of three members, two representing ProGreen and
one representing Contel. At least two Managing Directors approval is needed for
management decisions or major financial transactions, giving ProGreen full
operational control. Procon is the holding company for the real estate land
acquired for the Cielo Mar development.
Business Development Timeline
The Baja California, Mexico Map Image to the left shows the key location
references for the Business Development Timeline below. The planned community,
Cielo Mar, and the agricultural land controlled by the company are in relatively
close proximity to El Rosario, approximately 150 miles south of Ensenada. The
first ProGreen Farm, Arenoso, is on the main road called the Transpeninsular
Highway, Highway 1.
The Business Development Timeline below shows from the bottom starting in 2015
how both the Real Estate and the Agricultural business segments have developed
until now, and looking forward. The Baja projects began with early investigation
and due diligence into an opportunity presented by Mexican land owners with whom
the company made contact, regarding options for monetizing their land.
SOURCE: http://www.progreenus.com
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