SOURCE: ProGreen Properties, Inc.

ProGreen  Properties, Inc.

February 22, 2016 07:00 ET

ProGreen Gets Important New Investments

ProGreen Gets $300,000 in Individual Capital Injection From the CEOs of EIG, Soltech and ProGreen

BLOOMFIELD HILLS, MI--(Marketwired - Feb 22, 2016) - ProGreen Properties, Inc. (PROGREEN) (OTC PINK: PGEI) is pleased to announce that the company has entered into a subscription agreement with three individuals. Frederic Telander, CEO of Soltech Energy Sweden AB, Ulf Telander, CEO of EIG Venture Capital Ltd and Jan Telander, President of the company, are each investing $100,000 in exchange for 100,000 Preferred Shares with a stated value of $1.00 per share. Amounts subscribed for will be invested by April 30, 2016, with the first $100,000 already funded.

The company is now upgrading its online image by building a new website, and is setting up its corporate communications to be disseminated through social media to be better able to inform the public about news and developments for PROGRESS.

"Management is upbeat about the direction the company has taken recently and for the confidence shown from important players, through this financial injection," says Jan Telander, CEO of PROGREEN.

About ProGreen Properties, Inc.

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, some being aimed at the local real estate market and some sold to European Property Investors. The company has also recently entered into property investments in Baja California, Mexico. The company expects this will be a sustainable and growing activity for the company for many 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 uncertainties.

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