ProGreen Properties, www.progreenproperties.com – the Birmingham, Michigan-based firm which focuses on acquiring residential properties and then retrofitting them for improved energy efficiency, lowered emissions and enhanced sustainability, reported that the Company entered into a $2.5M Equity Line of Credit financing deal yesterday with LeadDog Capital LLP, New York.

Registration of a maximum of 10M shares to secure the financing, which will cover a period of up to 24 months, will boost PGEI’s free-float in the market, according to President and CEO, Jan Telander. According to the 8K filed yesterday, the agreement depends on the Company filing a registration statement with the SEC, which must be declared effective (by the SEC) in order for the financing to move ahead.

Telander explained that this move would help to organically drive liquidity, while allowing PGEI to retain control of the number of shares to be issued, as put notices will be presented when the market demand and price are at levels deemed optimal by the Company.

Telander further illustrated that the low cost of incoming cash, which will be used to acquire real estate that can be upgraded to produce further income, was a great deal for PGEI and its shareholders, who would be able to reap the substantial rewards of the strategy.

This huge boost to overall throughput for PGEI’s business model will allow a large number of properties to be simultaneously marketed under the ProGreen Realty banner, driving brand identity and inevitably market share/revenue.

The Company sees Michigan as an ideal environment, given prevailing market conditions, with a distressed property market and a strategy for essentially “green-flipping” residential sites into fully managed investment properties with a 7.5-8% yield net after fees and taxes.