MIAMI, March 29, 2017 (GLOBE NEWSWIRE) -- Tiger Reef, Inc. (OTCQB:TGRR), a diversified producer of ultra premium rums under the Tiger Reef® brand and a developer of casual dining restaurant properties in the Caribbean, announces that it has cancelled 90,250,000 shares of its outstanding common stock, or approximately 80%, of the 113,044,500 issued and outstanding common stock. As a result of this share cancellation, Tiger Reef now has 22,794,500 shares of common stock issued and outstanding.
Management is exploring the feasibility of cancelling additional shares of Tiger Reef’s outstanding common stock in the future and remains diligent about finding new avenues to enhance overall shareholder value.
About Tiger Reef
Tiger Reef, Inc. is a diversified producer of ultra premium rums under the Tiger Reef® brand and a developer of casual dining restaurant properties in the Caribbean. For more information, visit www.tigerreefinc.com.
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Tiger Reef, Inc. (“Tiger Reef”) assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws. For a description of additional risks and uncertainties, please refer to Tiger Reef’s filings with the Securities and Exchange Commission, including “Risk Factors” in its Annual Report filed on Form 10-K.