Tiger Reef Inc (TGRR)

[Penny Gold Mine]

Based on this fact, as well as other uncertainties, Tiger Reef and Simpson Bay Resorts & Marina have mutually agreed to terminate the lease agreement for this restaurant space. Tiger Reef will make a one-time write-off in the current fiscal quarter for its lost investment in this restaurant property.

As such, Tiger Reef is temporarily suspending all efforts related to the Mermaid Reef Ocean Grill & Lounge™ brand. Tiger Reef will reevaluate its options for this brand in the coming months after the company recovers from the losses incurred as a result of this storm.