$TGRR huge LOI news out! >> Tiger Reef Signs LO
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Posted On: 07/22/2019 10:01:31 AM
$TGRR huge LOI news out! >>
Tiger Reef Signs LOI to Acquire Industrial Solar Producer to Target CBD Energy Market
https://ih.advfn.com/stock-market/USOTC/tiger...al-solar-p
MIAMI, FL -- July 22, 2019 -- InvestorsHub NewsWire -- Tiger Reef, Inc. (OTC: TGRR) ("Tiger Reef" or the "Company"
, an emerging leader in cost-efficient clean energy solutions targeting the CBD and legal Cannabis markets and producer of ultra-premium rum under the Tiger Reef® brand designation, is pleased to announce the signing of a Letter of Intent ("LOI" for the acquisition of Atlas Solar Holdings, LLC ("Atlas Solar" .
The move represents a powerful step by the Company as it aggressively pursues a dominant position as a provider of tailored energy solutions targeting the $492 million market comprised of energy demand from cannabis and CBD producers.
"In our conversations with cannabis and CBD producers, the most important factor on these guys' minds is how to compress energy costs," commented J. Scott Sitra, Tiger Reef's President and CEO. "According to our research, no one else out there is pursuing a pure-play strategy targeting tailored solutions to that rapidly growing problem. We have that solution and we are scaling up to make a run at dominating the niche."
Management notes that Atlas Solar currently owns and operates a total of 34 state-of-the-art industrial solar installations producing over 420,000 KWh of solar electricity annually. As a result of this production level, Atlas Solar earns over 420 solar renewable energy credits (SRECs) per year. In addition, Atlas is producing positive net cash flow of approximately $120,000 annually from operations directly related to solar power generation.
The LOI provides for a ninety-day period of negotiation and good faith formalization of the terms of a transaction through which Tiger Reef seeks to purchase all of the assets and operations of Atlas Solar, with this 90-day period beginning upon the declaration of an "effective" date of Tiger Reef's previously announced Regulation A offering documents by the Securities and Exchange Commission (SEC), unless both parties agree to extend these terms.
"As we have previously communicated to investors, one of most important priorities with our newly accessed funding is the rapid expansion of our primary operations as the leading solution for the cannabis and CBD energy space," continued Mr. Sitra. "Atlas Solar represents a perfect example of our sense of a strong ROI deployment of those funds because it directly augments the ammunition we have as we aggressively market our solution to companies that represent an exciting combination: they are both cash-rich and in sore need of a long-term path adjustment for energy costs, which is precisely what we have to offer."
About Tiger Reef: Tiger Reef is a developer and operator of solar and clean renewable energy projects focused on reducing overall energy costs and the carbon footprint for Cannabidiol (CBD) producers and legalized marijuana growers. Tiger Reef also has developed a line of ultra-premium rums under the Tiger Reef® brand. For more information, visit http://www.tigerreefinc.com.
Tiger Reef Investor Relations:
949.264.1475
ir@tigerreefinc.com
Press & Media Inquiries:
EHC Branding Agency
Info@EHCBrandingAgency.Com
(626) MJ-BRAND
Tiger Reef Signs LOI to Acquire Industrial Solar Producer to Target CBD Energy Market
https://ih.advfn.com/stock-market/USOTC/tiger...al-solar-p
MIAMI, FL -- July 22, 2019 -- InvestorsHub NewsWire -- Tiger Reef, Inc. (OTC: TGRR) ("Tiger Reef" or the "Company"
, an emerging leader in cost-efficient clean energy solutions targeting the CBD and legal Cannabis markets and producer of ultra-premium rum under the Tiger Reef® brand designation, is pleased to announce the signing of a Letter of Intent ("LOI" for the acquisition of Atlas Solar Holdings, LLC ("Atlas Solar" . The move represents a powerful step by the Company as it aggressively pursues a dominant position as a provider of tailored energy solutions targeting the $492 million market comprised of energy demand from cannabis and CBD producers.
"In our conversations with cannabis and CBD producers, the most important factor on these guys' minds is how to compress energy costs," commented J. Scott Sitra, Tiger Reef's President and CEO. "According to our research, no one else out there is pursuing a pure-play strategy targeting tailored solutions to that rapidly growing problem. We have that solution and we are scaling up to make a run at dominating the niche."
Management notes that Atlas Solar currently owns and operates a total of 34 state-of-the-art industrial solar installations producing over 420,000 KWh of solar electricity annually. As a result of this production level, Atlas Solar earns over 420 solar renewable energy credits (SRECs) per year. In addition, Atlas is producing positive net cash flow of approximately $120,000 annually from operations directly related to solar power generation.
The LOI provides for a ninety-day period of negotiation and good faith formalization of the terms of a transaction through which Tiger Reef seeks to purchase all of the assets and operations of Atlas Solar, with this 90-day period beginning upon the declaration of an "effective" date of Tiger Reef's previously announced Regulation A offering documents by the Securities and Exchange Commission (SEC), unless both parties agree to extend these terms.
"As we have previously communicated to investors, one of most important priorities with our newly accessed funding is the rapid expansion of our primary operations as the leading solution for the cannabis and CBD energy space," continued Mr. Sitra. "Atlas Solar represents a perfect example of our sense of a strong ROI deployment of those funds because it directly augments the ammunition we have as we aggressively market our solution to companies that represent an exciting combination: they are both cash-rich and in sore need of a long-term path adjustment for energy costs, which is precisely what we have to offer."
About Tiger Reef: Tiger Reef is a developer and operator of solar and clean renewable energy projects focused on reducing overall energy costs and the carbon footprint for Cannabidiol (CBD) producers and legalized marijuana growers. Tiger Reef also has developed a line of ultra-premium rums under the Tiger Reef® brand. For more information, visit http://www.tigerreefinc.com.
Tiger Reef Investor Relations:
949.264.1475
ir@tigerreefinc.com
Press & Media Inquiries:
EHC Branding Agency
Info@EHCBrandingAgency.Com
(626) MJ-BRAND
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