MIAMI, May 25, 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 under the Mermaid Reef Ocean Grill & Lounge™ brand, announces that its wholly-owned subsidiary, Tiger Reef Spirits, Ltd., has entered into a Letter of Intent with International Spirits & Beverage Group, Inc. (OTC:ISBG).
Key benefits include:
- ISBG will assist Tiger Reef with obtaining US regulatory approval for the entire line of Tiger Reef® ultra premium rums, including with the COLA and TTB certification and approval;
- ISBG will become the US importer of record for Tiger Reef’s entire line of rums and will handle all compliance and regulatory matters necessary for legally bringing the rums into the US; and
- ISBG will facilitate and make key introductions on behalf of Tiger Reef for distribution, marketing, warehousing, and retailing its rums within the US
The necessary definitive agreements to effect the foregoing objectives of this Letter of Intent should be finalized within the next 90 days.
J. Scott Sitra, Tiger Reef’s President and CEO stated, “This is an exciting step towards having our line of ultra premium rums sold within the United States. ISBG is going to work with our design firm, Dynamic Creatives Group, to help finalize the bottle designs and make sure that they are compliant with current US regulations pertaining to imported distilled spirits.” Mr. Sitra continued, “Once the bottle designs are finalized and verified to be compliant with all applicable regulations, we will then move onto the bottle prototyping phase of this process.”
About International Spirits & Beverage Brands, Inc.
International Spirits & Beverage Brands, Inc. (ISBG) is a Nevada-based alcoholic beverage company specializing in the development, marketing and global sales of innovative wine and spirits brands. ISBG's expertise lies in the strategic development and aggressive early growth of its brands and establishing these brands as viable and profitable. ISBG intends to build its own brands while seeking out individual acquisition candidates to continue to develop its pipeline of new brands into the ISBG portfolio. For more information visit: www.isbg.global.
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 under the Mermaid Reef Ocean Grill & Lounge™ brand. 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.