ProGreen US Inc (OTCMKTS:PGUS) shares dipped 0.56% on Wednesday to $0.0179. The company has a market cap of $6.03 million at 349.81 million shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.03.
In a press release, ProGreen US Inc shared that it has moved its headquarters to San Diego, California. It has also opened an office for its subsidiary operations in Ensenada, BC, Mexico as part of their transformation that began with the signing of a strategic joint venture agreement with Inmobiliaria Contel 18 months ago.
“The establishment of the West Coast offices represents the sea change that ProGreen has undergone over the past 6 months,” says Jan Telander, President and CEO of ProGreen US Inc. “We are now in a totally different position, with enormous opportunities for, not only the short term, but also for the intermediate as well as the long term.”
“We now see a clear way towards a strong consolidation of the company on the financial front, and the close proximity of the two offices will enable ProGreen to efficiently manage the rapidly expanding business activities in Baja,” he added.
ProGreen US Inc is a company that owns and manages residential real estate rental property in the Oakland County, Michigan area. It is engaged in acquiring, refurbishing and upgrading residential real estate as it purchases residential real estate apartment homes, condominiums and houses in the State of Michigan.
The company is also focusing its investments and interest in agricultural land in Baja California, Mexico. Its nvestment properties are marketed by ProGreen Realty LLC, a subsidiary of ProGreen and managed by its subsidiary, Progreen Properties Management LLC. In addition, the Company’s subsidiary, ProGreen Construction LLC, performs various construction and development services for properties, which are held and under development. As of July 20, 2017, the Company owned six properties.