SOURCE: ProGreen Properties, Inc.

ProGreen Properties, Inc.

January 23, 2013 07:00 ET

ProGreen Strengthens Management Team

BIRMINGHAM, AL--(Marketwire - Jan 23, 2013) - ProGreen Properties, Inc. (ProGreen) (OTCQB: PGEI) is pleased to announce the appointment of David Stock as Financial Controller. Mr. Stock's joining the company is a first step of the implementation of the previously announced plan of strenghening the company's management. He is a Michigan born and bred CPA with over 20 years of experience and comes highly qualified for the position. Initially he will be working part time, but it is our intention that he will transition to full time later on in the year and then as CFO.

"Getting David to join ProGreen is a great step for the company. We have now reached a point where we need a stronger management to cope with the expected rapid increase in business. David will be able to implement enhanced financial controls as we expand our business operations, as well as to provide up to date and accurate reporting to our property investors in Europe," says Jan Telander.

"I am very excited having joined ProGreen and to be able to be a part of building a company that I have great belief in and where I can see exceptional growth potential," says David Stock.

About ProGreen Properties, Inc.

ProGreen Properties, Inc. (ProGreen) (OTCQB: PGEI) based in Birmingham, Michigan is engaged in the business of acquiring, refurbishing and upgrading residential real estate into high yielding Investment Properties, that are subsequently sold to European Real Estate Investors. 

ProGreen believes that Michigan presently offers some of the best investment opportunities in the US property market.

ProGreen Realty LLC, a wholly owned subsidiary to ProGreen, is responsible for all purchasing, leasing and sale of properties.

ProGreen Property Management LLC, a wholly owned subsidiary to ProGreen, maintains management of all properties sold to investors.

This press release contains statements, 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.

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