Contel Completes Operational Development of First ProGreen Farm
(firmenpresse) - BLOOMFIELD HILLS, MI -- (Marketwired) -- 05/01/17 -- ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), , (at)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 that Contel has completed the operational development of the first ProGreen Farm, and we are now actively growing chili peppers destined for the US market.
Contel obtained a $1.1M+ (USD) contract with a major exporter to the U.S. for chili peppers to be grown on the first 100 acres, as announced in the press release on January 23, 2017. During the past months, Contel has been very active with development and preparation of the land for the growing operations, with the final step of installing the drip irrigation, which has now been completed.
With the planting process now well underway, we expect to have 60 of the 100 acres completed with 1.4 million chili plants in the ground by the end of the week, and we are looking forward to begin harvesting in July.
(Related photos on the agricultural project page and blog update at ProGreenUS.com.)
PROGREEN US, INC., , 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:
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.
Jan Telander
President and CEO
Phone: 1 (248) 805-3652
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Datum: 01.05.2017 - 12:00 Uhr
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