register free | resend password


Outstanding Debt Conversion Now Completed

ID: 1425099
recent pressrelease next pressrelease

(businesspress24) - BLOOMFIELD HILLS, MI -- (Marketwired) -- 03/31/16 -- ProGreen Properties, Inc. (PROGREEN) (OTC PINK: PGEI), is pleased to announce that the company''s last outstanding institutional convertible note has now been fully converted. The company is now in a much stronger financial position, as its total outstanding debt has now been reduced to the $200,000 owed to American Fastigheter AB (Amrefa), which is non-convertible, does not carry interest and will be paid off with proceeds from the sale of one of the 14 properties included in the ARG acquisition, announced earlier in the month.

"This removes the last of the earlier dilutive debt and we can now clearly see the path forward without this type of ''overhang,''" says Jan Telander, President.

PROGREEN PROPERTIES, INC. (PROGREEN) (OTC PINK: PGEI) based in Bloomfield Hills, Michigan, is engaged in the business of acquiring, refurbishing and upgrading residential real estate into modern affordable homes. The company has also recently entered into property investments in Baja California, Mexico and expects this will be a sustainable growth sector for the company for years to come.

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 & CEO
Phone: (248) 805-3652
Email:



More information:
http://www.maccoremodeling.com http://review-hoverboard-segway.com/ https://en.gamigo.com/corporate/gamigo-games/otherland-at-gamigo-and-a-massive-content-update-for-the-steam-early-access/ http://www.realwire.com/releases/Small-Cell-Forum-and-ETSI-stage-



Keywords (optional):

progreen-properties, inc,



Company information / Profile:

PressRelease by

Requests:



PressContact / Agency:



published by: Marketwired
print pressrelease  send to a friend  

Date: 03/31/2016 - 11:30
Language: English
News-ID 1425099
Character count: 3500
Kontakt-Informationen:
Firma: ProGreen Properties, Inc.
Ansprechpartner: Feedback to businesspress24.com about Pressrelease-id:
Stadt: BLOOMFIELD HILLS, MI
Telefon:

Meldungsart:
Versandart:
Freigabedatum:
Comments:



Number of hits: 153

Linking-Tips:



Direct Link to this PressRelease:






We would appreciate a link in your News-, Press- or Partner-Site.

Comments on this PressRelease






All members: 9 421
Register today: 1
Register yesterday: 1
Members online: 0
Guests online: 95


Don't have an account yet? You can create one. As registered user you have some advantages like theme manager, comments configuration and post comments with your name.