SOURCE: ProGreen US, Inc

ProGreen US, Inc

August 16, 2016 09:00 ET

ProGreen Plans to Reduce the Number of Authorized Shares

BLOOMFIELD, MI--(Marketwired - Aug 16, 2016) - The board of directors of ProGreen US, Inc. (ProGreen) (OTC PINK: PGUS) www.ProGreenUS.com, has decided to file for a reduction in the number of authorized shares of common stock with 550M to 950 M. The Company will file an Information Statement with the SEC shortly to start this process. The Company does not expect any material future dilution from convertible debentures, and cannot foresee the need for as many shares as previously estimated.

About ProGreen Properties, Inc.

About ProGreen US, Inc.
PROGREEN US, INC. (PROGREEN) (OTC PINK: PGUS), based in Bloomfield, Michigan, is engaged in the business of acquiring, refurbishing and upgrading residential real estate into modern affordable homes, offered for sale with Land Contracts to buyers still unable to obtain conventional credit. The company has also recently entered into property investments in Baja California, Mexico and will be intensifying this activity, with the aim of creating a sustainable income stream 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 risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated.

Contact Information

  • For further Information, please contact:
    Jan Telander
    President and CEO
    jan@progreenUS.com
    Phone: 1 (248) 805-3652