SAN DIEGO, CA--(Marketwired - Aug 14, 2017) - ProGreenUS, Inc. (ProGreen) (
ProGreen is pleased to announce that its agricultural investment in Baja California has begun to bear fruit, with the first harvest of chili peppers at ProGreen Farms™ Arenoso now in full swing.
The beginning of the harvest represents two major milestones. Not only have we successfully developed the land and infrastructure for our first produce farm, Arenoso; with the harvest now underway, we have demonstrated the successful development of a complete, functional farming operation.
The location of the Arenoso farm on the main highway has proven to be the perfect showcase for ProGreen Farms™ from the very start. From the development work to the daily operations and now with the view of the vibrant pepper crop from the road, the farm has garnered a great deal of attention from produce buyers - who are now actually coming to the farm, regularly, requesting produce - as well as from growers and large farming operations wanting to buy the farm. Through this exposure, and in combination with the actual results, we have already achieved a new level of maturity in supply chain participation within the produce market.
"Contel has reached another important milestone, having proven the operation's capabilities, and now with the ability to be more selective in what the operation will produce and for which buyers," said Jan Telander, President & CEO of ProGreen. "This is obviously a very good confirmation of the value we have here, and of the opportunities that we have ahead with the thousands of acres of land within our control through our strategic partnership with Contel.
"Contel has negotiated a supplement to the earlier agreement with the buyer, Agricola Consuelo, originally valued at $1.M+, in order to take advantage of the current, higher market price for the peppers. As a result, some of the crop will be going to other buyers, one being a large wholesaler with both exports to the US as well as with large distribution within Mexico."
Additional areas of the Arenoso land are being prepared to varying degrees for the next year and, with revenues now flowing from the chili pepper harvest, possibilities are being considered for a winter crop on some of the land to follow after the chili pepper harvest.
"We are now also considering various options for improving efficiencies in the Arenoso operation, such that goals for growth in terms of revenue and profit may be achieved with the development of new land in combination with various methods & processes that can potentially double the produce yield, or more, and extend the growing season for a given crop," said Telander. "This would shift some of the investment required for developing new land, into improved methods and processes for the existing operation, and represents yet another significant milestone for the company's agricultural operations as we have already reached this new level of maturity in farming expertise."
Highlights of ProGreen's Agricultural Investment Project
Websites:
www.ProGreenUS.com
www.CieloMarBaja.com
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http://www.progreenus.com/blog
About ProGreenUS, Inc.
ProGreenUS, Inc., www.ProGreenUS.com, based in San Diego, California, is engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) as well as through its majority-owned Mexican subsidiary Procon Baja JV (Procon). Contel is now active in the high margin produce industry, growing crops for exporters to the US market, with an abundance of land available for expansion under our JV partnership. Procon has recently acquired 5,000 acres of land with 4.5 miles of oceanfront on the Bay of El Rosario, for which a master plan is being drawn for the development of a very large, totally green, international vacation and retirement community called "Cielo Mar."
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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:
ProGreenUS, Inc.
Jan Telander
President and CEO
Jan@ProGreenUS.com
Phone: 1 (248) 805-3652
www.ProGreenUS.com