September 3rd, 2010
(PGEI.OB) ProGreen Properties, Inc. Enters Into 2.5MM Equity Line Financing Deal
Posted on 30. Aug, 2010 by PublicWire
(PublicWire.com General News Release) ProGreen Properties, Inc. (”ProGreen”) (OTC Bulletin Board: PGEI), www.progreenproperties.com, yesterday entered into a $2,500,000 equity line financing deal with Leaddog Capital LLP (Leaddog), New York.
The financing is in the form of an Equity Line of Credit, extending over a period of up to 24 months. A maximum of ten million (10,000,000) shares will be registered for this financing. The financing is subject to our filing of a registration statement with the Securities and Exchange Commission for the financing, and the registration statement being declared effective by the Commission.
Full disclosure of the information relating to this Equity Line of Credit can be found in the 8K filed yesterday.
“This financing will serve a dual purpose for ProGreen, as follows:
First, it will bring cash funds into the company at a comparatively low cost and enable ProGreen to increase the ability to further ramp up the investment strategy in new acquisitions. This will give the company the ability to market a larger number of properties under the ProGreen banner at the same time, thus improving the possibilities to enhance our revenues.
Secondly, it will enable ProGreen to increase the free-float of our stock in the market place, which should gradually create more liquidity, with the company still retaining control of the number of shares to be issued, as “put” notices will be presented to Leaddog when the company finds the market demand and price level right to absorb new shares.” (Says Jan Telander, President & CEO)
(PGEI.OB) ProGreen Properties, Inc. Enters Into 2.5MM Equity Line Financing Deal
PGEI.OB, PGEI.OTCBB, OTCBB:PGEI, PGEI
Forward Looking Statements
Certain statements in this press release that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as “anticipate, “believe,” “expect,” “future,” “may,” “will,” “would,” “should,” “plan,” “projected,” “potential,” “intend,” and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the “company to be materially different from those expressed or implied by such forward-looking statements.
For all the latest in small cap news, videos, and information, visit us online at PublicWire.com, or call us, toll free, at 888-843-1412.
(PublicWire.com General News Release) ProGreen Properties, Inc. (”ProGreen”) (OTC Bulletin Board: PGEI), www.progreenproperties.com, yesterday entered into a $2,500,000 equity line financing deal with Leaddog Capital LLP (Leaddog), New York.
The financing is in the form of an Equity Line of Credit, extending over a period of up to 24 months. A maximum of ten million (10,000,000) shares will be registered for this financing. The financing is subject to our filing of a registration statement with the Securities and Exchange Commission for the financing, and the registration statement being declared effective by the Commission.
Full disclosure of the information relating to this Equity Line of Credit can be found in the 8K filed yesterday.
“This financing will serve a dual purpose for ProGreen, as follows:
First, it will bring cash funds into the company at a comparatively low cost and enable ProGreen to increase the ability to further ramp up the investment strategy in new acquisitions. This will give the company the ability to market a larger number of properties under the ProGreen banner at the same time, thus improving the possibilities to enhance our revenues.
Secondly, it will enable ProGreen to increase the free-float of our stock in the market place, which should gradually create more liquidity, with the company still retaining control of the number of shares to be issued, as “put” notices will be presented to Leaddog when the company finds the market demand and price level right to absorb new shares.” (Says Jan Telander, President & CEO)
(PGEI.OB) ProGreen Properties, Inc. Enters Into 2.5MM Equity Line Financing Deal
PGEI.OB, PGEI.OTCBB, OTCBB:PGEI, PGEI
Forward Looking Statements
Certain statements in this press release that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as “anticipate, “believe,” “expect,” “future,” “may,” “will,” “would,” “should,” “plan,” “projected,” “potential,” “intend,” and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the “company to be materially different from those expressed or implied by such forward-looking statements.
For all the latest in small cap news, videos, and information, visit us online at PublicWire.com, or call us, toll free, at 888-843-1412.
