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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Pechala's Reports

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ProGreen Properties Inc Executes Agreement With American Residential Fastigheter Ab

Tuesday, 23 Jul 2013 07:05am EDT 

ProGreen Properties Inc announced that it has signed the definitive agreement with American Residential Fastigheter AB (ARF), which has acquired 100% of American Residential Gap ApS, a Danish company that has previously purchased investment properties from ProGreen. The agreement provides for an initial round of funding of up to $3,000,000. The funds will be used to provide 100% property acquisition and refurbishment financing. Once the properties have been reformed and updated to ProGreen standards and subsequently leased, they will be acquired by ARF as income producing investment properties, managed by ProGreen. Up to a maximum of 10% of the total investment amount, can also be allocated by ARF to the purchase of ProGreen common stock according to customary subscription terms and subject to a floor price of $0.05, as specified in the Agreement. Terms of the transaction were not disclosed. 

Company Quote

5 May 2015