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MIAMI, July 18, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – 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 excited to unveil the Company’s comprehensive energy solution for cannabis cultivators as part of its new direct marketing program to address core energy efficiency concerns increasingly impacting large cultivators.
“The weight of evidence is now demonstrably pointing to a squeeze for many major producers in the cannabis space,” commented J. Scott Sitra, Tiger Reef’s President and CEO. “They need a new solution. More hype means more production. More production means tighter margins. Tighter margins mean lots of folks start to get pushed out of business if they can’t find a way to reduce the impact of their highest cost input, which in all cases is Energy.”
The Company notes that the problem of tightening margins for cannabis producers is beginning to trickle into media about the space. One such example is a recent article on the current situation faced by legal cannabis cultivators that boils down to a desperate need for cheaper energy. The article states that – on an energy-cost-per-square-foot measurement basis – marijuana growers use 10 times as much energy as a typical office building. The problem is so significant, according to the piece, that many local utilities providers are scrambling to understand how they can provide enough energy to support these facilities.
Tiger Reef is an emerging leader in clean, renewable solar solutions tailored specifically for marijuana growers and CBD producers. The Company’s solution can cut energy costs for most producers by up to 40%. Management believes that the added pressure of shrinking margins presents a powerful market opportunity, and the Company is moving to take advantage of that opportunity by launching an aggressive direct marketing program targeting major cultivators.
“Tiger Reef has a viable solution to preserving marijuana growers’ profit margins and keeping them competitive moving into the future,” continued Mr. Sitra. “Eventually, we anticipate similar margin pressures will start affecting the CBD producers’ bottom lines where Tiger Reef’s clean renewable solar solutions will also be in demand. It’s really business 101: the context is evolving toward one that powerfully favors solutions to the problems faced by the largest producers from one that favored solutions to the needs of consumers. And we are very well placed to thrive as that paradigm shifts.”
About Tiger Reef: Tiger Reef, Inc. 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 www.tigerreefinc.com.
Forward Looking Statements: 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.
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