ProGreen's Cielo Mar Project Gets Green Light From Mexican Government
SAN DIEGO, April 09, 2019 (GLOBE NEWSWIRE) -- ProGreen US, Inc. (ProGreen) (OTC:PGUS), is pleased to announce that the land use application for our Cielo Mar project in Baja California has now been approved by the Mexican government. Our subsidiary in Ensenada, Procon Baja JV, received the official notification yesterday, April 8, 2019.
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Situated in the Bahia del Rosario (Bay of El Rosario) with 4.5 miles of ocean frontage on the Pacific coast of Baja California, Cielo Mar is being planned as a totally green, resort-style vacation and retirement community. With a year-round climate very similar to San Diego, this planned development gets its name from "cielo," meaning "heaven," and "mar," which means "sea" - making Cielo Mar "Heaven By The Sea."
To learn more about Cielo Mar, visit:
"I cannot say how pleased I am with Cielo Mar achieving this major milestone," stated Jan Telander, Chairman of ProGreen. "This is a turning point for the project, and we are very fortunate to have the best people working on the project plans, including the environmental study and land use application, as well as the ongoing development of architectural designs.
"As we turn toward the first steps in plan execution, we now expect to close on the first tranche of a bridge financing as the first stage in our project funding plan, as early as a week from today."
For related notes regarding this announcement, visit the ProGreen US company blog at .
About ProGreen US, Inc.
ProGreen US, Inc. (ISIN: US74327M1027), headquartered in San Diego, California, is engaged primarily with real estate and agriculture land development projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V., as well as through its majority-owned Mexican subsidiary Procon Baja JV. For additional information about ProGreen, visit our website at . Follow us on Twitter: .
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.
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