Tiderock Companies and MTAG Composites Execute Binding LOI and Agree to Extend Closing Date
BOSTON, MA / ACCESSWIRE / April 2, 2024 / Tiderock Companies, Inc. ("we", "our", or the "Company"), (OTC Pink:TDRK) announced today both parties have executed a binding letter of intent and have mutually agreed to extend the closing date of the proposed merger to April 30, 2024.
During due diligence, it was determined that based on the current growth opportunities at MTAG along with the strategic nature of its services, it would be imperative for Tiderock to also acquire the Real Estate along with all the operating business. MTAG Composites is located on 4.5 acres encompassing five (5) building providing over 61,000 sq ft of manufacturing space. With the existing sales pipeline, it will become imperative additional buildings on the property will need to be constructed supporting its short-term growth.
Both parties have agreed to work towards an April 30, 2024 closing date, but have incorporated an additional 30-day extension to support the real estate transfer, if needed.
About Tiderock Companies, Inc.: Tiderock Companies is a diversified investment and advisory services company, specializing on real estate, land development, infrastructure, and private equity. With over 20 years of real estate experience, the Company specializes in land development, mixed-use real estate development, project management and public-private partnerships. Tiderock Companies, Inc. (OTC Pink:TDRK) is headquartered in Boston, MA., and can be contacted at www.tiderockcompanies.com or by phone at (800) 791-8433.
About MTAG Composites, LTD.: Established in 2008, MTAG Composites https://mtagcomposites.co.uk/ specializes in the manufacture of high quality Phenolic, Epoxy and Polyester Glass Fiber and Carbon Fiber reinforced plastic moldings with a diverse product mix for customers within the aerospace, automotive, marine, rail and construction industries. MTAG manufacturing facilities consist of over 61,000 sq ft based at Coningsby, Lincolnshire UK and employ over 120 employees.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
For more information:
Tiderock Companies, Inc.
53 State Street, Suite 500
Boston, MA 02109
Thomas B. Fore, CEO
Email: info@tiderockcompanies.com
Phone: (800) 791-8433
SOURCE: Tiderock Companies, Inc.
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