From an $M,\delta$ perspective, the proof is essentially correct. Let's generalize slightly:
Suppose $f$ and $g$ are two functions for which $\lim\limits_{x \to 0^+} f(x) = -\infty$, $\lim\limits_{x \to 0^+} g(x) = +\infty$. Then, $\lim\limits_{x \to 0^+} f(x)\cdot g(x) = - \infty$.
Proof: Consider $f$ and $g$ with the desired properties. We will prove $\lim\limits_{x \to 0^+} f(x)\cdot g(x) = - \infty$ by showing that for any $M$, there exists a $\delta > 0$ such that for all $x$, $0 < x < \delta$, we have that $f(x)g(x) < M$.
Consider real $M$, arbitrary. Since $\lim\limits_{x \to 0^+} f(x) = -\infty$, there exists a $\delta_1 > 0$ such that for all $x$ with $0 < x < \delta_1$, $f(x) < -1$. Also, since $\lim\limits_{x \to 0^+} g(x) = +\infty$, there exists a $\delta_M > 0$ such that for all $x$ with $0 < x < \delta_M$, $g(x) > \max\{-M, 0\}$. Now, set $\delta = \min\{\delta_1, \delta_M\}$, and consider $x$ with $0 < x < \delta$. There are two cases to consider. If $M \ge 0$, then $f(x)g(x) < 0 \le M$, as required. Alternatively, if $M < 0$, then $-M > 0$, so we have
$$f(x)\cdot g(x) < -1 \cdot g(x) < -1 \cdot -M \le M.$$