Tiger Reef, Inc. (OTCPK:TGRR) announced that it has entered into a securities purchase agreement with Blackbridge Capital Growth Fund, LLC, a fund managed by Blackbridge Capital, LLC for private placement of a convertible promissory note for gross proceeds of $75,000 on April 17, 2017. The note carries a fixed interest rate of 12% per annum and will mature on October 17, 2017. The notes may be repaid at any time during the first six months of each tranche at a rate of 135% of the unpaid principal amount during the first 90 days and 150% of the unpaid principal amount between days 91 and 180 and may not be prepaid after the 180th day. The note is convertible into common shares of the company at a price per share equal to 55% of the lowest daily closing bid with a 15 day look back immediately preceding and including the date of conversion. There is no minimum conversion price. The company will issue securities pursuant to exemption provided under Regulation D. The note will be issued at principal amount. The company will reimburse investors expenses of $1,500.