Outstanding Debt Conversion Now Completed

BLOOMFIELD HILLS, MI - (NewMediaWire) - March 31, 2016 - ProGreen Properties, Inc. (PROGREEN) (OTC PINK: PGEI), is pleased to announce that the company's last outstanding institutional convertible note has now been fully converted. The company is now in a much stronger financial position, as its total outstanding debt has now been reduced to the $200,000 owed to American Fastigheter AB (Amrefa), which is non-convertible, does not carry interest and will be paid off with proceeds from the sale of one of the 14 properties included in the ARG acquisition, announced earlier in the month.

"This removes the last of the earlier dilutive debt and we can now clearly see the path forward without this type of 'overhang,'" says Jan Telander, President.

About ProGreen Properties, Inc.

PROGREEN PROPERTIES, INC. (PROGREEN) (OTC PINK: PGEI) based in Bloomfield Hills, Michigan, is engaged in the business of acquiring, refurbishing and upgrading residential real estate into modern affordable homes. The company has also recently entered into property investments in Baja California, Mexico and expects this will be a sustainable growth sector for the company for years to come.

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