ProGreen Properties, Inc. Business Update

^{Published on 2010-11-18 04:11:01 - Market Wire}
 

ProGreen Properties, Inc. Business Update -- BIRMINGHAM, Mich., Nov. 18, 2010 /PRNewswire/ --

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BIRMINGHAM, Mich., Nov. 18, 2010 /PRNewswire/ -- ProGreen Properties, Inc. (ProGreen) [ www.progreenproperties.com ], (OTC Bulletin Board: PGEI). ProGreen is pleased to announce that four more properties have been recently restored to very high standards, utilizing eco-friendly building materials and practices.  Additional properties will be completed in December.

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ProGreen is further pleased to report that it closed on another acquisition yesterday and several additional bids have been placed on other properties. A major marketing campaign, in line with our plan to ramp-up production, will commence this coming weekend.    

"Early inquiries and signs of interest in ProGreen Homes have been very encouraging. We have received feedback that our properties are very well presented and offer good value, as the quality of our homes exceeds the current standard for properties in the area. A unique incentive to ProGreen Home buyers is that ProGreen is offering bridge-financing on some of its properties. This enables many potential home-buyers to purchase now.  Buyers then have sufficient time to arrange other financing with better terms," Says Jan Telander, President & CEO.

ProGreen Properties, Inc. (ProGreen) (OTCBB-PGEI) is a young company (2009) based in Birmingham, Michigan. ProGreen is engaged in the business of acquiring, refurbishing and upgrading residential real estate. ProGreen believes that Michigan offers some of the best investment opportunities in the presently distressed US property market.

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. Such factors include; our ability to create, sustain, manage or forecast our growth; our ability to attract and retain key personnel; changes in our business strategy or development plans; competition; business disruptions; adverse publicity; and international, national and local general economic and market conditions

SOURCE ProGreen Properties, Inc.

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