ProGreen Properties, Inc. announced that the formation of Procon Baja JV (PROCON) has been completed. PROCON is joint venture subsidiary with Inmobiliaria Contel (CONTEL) in Baja California, Mexico. PROCON is owned by PROGREEN (51%) and CONTEL (49%) jointly. The company will be managed by a board of Managing Directors consisting of three members. Two will be representing PROGREEN and one representing CONTEL. At least two Managing Directors approval will be needed for management decisions or approvals of financial transactions, giving PROGREEN full operational control. This joint venture involves approximately 1,900 acres, with some 500-800 acres suitable for farming, depending on the amount of water that could be extracted through the drilling of fresh water wells.