Tiderock Companies to Acquire Majority Control of Florida Certified General Contractor

Rhea-AI Summary

Tiderock Companies (OTC PINK:TDRK) has signed a Letter of Intent to acquire 51% of Charles Burgan LLC, a Florida-based Certified General Contractor known for both residential and commercial construction since 2006. The acquisition, expected to close within 30 days, will rename the subsidiary to Sora Burgan Construction. CEO Tom Fore highlighted the growth potential in Florida, where over 300,000 new residents relocated between April 2020 and April 2021, indicating a robust market demand for construction services.

Positive

• Acquisition of 51% in Charles Burgan LLC enhances Tiderock's market presence.
• Expected growth in Florida's construction market due to population influx.
• Burgan's experience and relationships may facilitate project success.

Negative

• None.

BALTIMORE, MD / ACCESSWIRE / March 15, 2022 / Tiderock Companies, Inc. ("we", "our", or the "Company"), (OTC PINK:TDRK) is pleased to announce that it has executed a Letter of Intent to acquire 51% of Charles Burgan LLC, a Florida based Certified General Contractor.

Charles Burgan LLC, a Certified General Contractor, has been serving the Florida Market since 2006. The firm provides full design and build services for both Residential and Commercial Construction. In addition, Burgan LLC specializes in Marine Construction including piers, docks, seawalls, and customized lifts.

Tiderock CEO, Tom Fore commented, "We are excited about this unique opportunity. Mr. Burgan has been a successful project designer and contractor for over three decades. He has a spotless record with the Florida Department of Business and Professional Regulation and has great working relationships with the local municipalities. Concurrent with closing the transaction, which is targeted to occur within the next 30 days, the newly acquired majority owned subsidiary will be renamed Sora Burgan Construction." Tiderock will be issuing restricted common stock for the acquisition. Mr. Burgan will stay on as qualified employee, in addition to providing project management, planning and design services.

Florida continues to be a target state for relocation, over 300,000 new residents moved to Florida between April 2020 and April 2021, according to the state's Office of Economic and Demographic Research. Data compiled by Move.org shows Florida is the No. 1 state people moved to in both 2020 and 2021. The continued growth and investment into the communities will provide abundant opportunities for Sora Burgan Construction to see accelerated growth in this hot marketplace.

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 Baltimore, MD., and can be contacted at www.tiderockcompanies.com or by phone at (800) 791-8433.

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.
Thomas B. Fore, CEO
Email: info@tiderockcompanies.com
Phone: (800) 791-8433

SOURCE: Tiderock Companies, Inc.

View source version on accesswire.com:
https://www.accesswire.com/693044/Tiderock-Companies-to-Acquire-Majority-Control-of-Florida-Certified-General-Contractor

FAQ

What is Tiderock Companies planning to acquire?

Tiderock Companies intends to acquire 51% of Charles Burgan LLC, a certified general contractor in Florida.

When is the expected closing date for the Tiderock acquisition?

The acquisition is targeted to close within the next 30 days from March 15, 2022.

What will Charles Burgan LLC be renamed after the acquisition?

After the acquisition, Charles Burgan LLC will be renamed Sora Burgan Construction.

How does the acquisition benefit Tiderock Companies?

The acquisition positions Tiderock to leverage growth opportunities in the expanding Florida construction market.

What type of services does Charles Burgan LLC provide?

Charles Burgan LLC offers full design and build services for residential and commercial construction, specializing in marine construction.