Solar Integrated Roofing Corp. Provides Corporate and Operational Update

HENDERSON, Nev., Sept. 28, 2023 (GLOBE NEWSWIRE) -- Solar Integrated Roofing Corp. (OTC: SIRC) (“SIRC” or the Company”), an integrated, single-source solutions provider of solar power, roofing and EV charging systems, provided a corporate and operational update.

“Our plan to consolidate operations while growing revenue and improving margins remains on course,” said Brad Rinehart, Chief Executive Officer of SIRC. “We just launched our new, consolidated facility in San Diego for our McKay and Milholland subsidiaries and we are finalizing the tenant improvements for the property this week.

“We continue to have a dialog with Tribeca Energy on the Letter of Commitment we have with them. We are working towards consummating that arrangement when both Tribeca Energy and SIRC are prepared to do so and at a valuation that will enable shareholders to benefit from the transaction.

“Our revenue remains strong across our roofing, solar, and EV Charging infrastructure businesses. We have continued to reduce headcount where appropriate to focus our payroll on construction projects and eliminate administrative costs where we can. We are going to start posting our current construction projects more frequently on our various social media platforms so shareholders can see the quality work and progress we are making on our installations across all divisions.

“Finally, our strategy to continue to reduce debt and improve our balance sheet also remains on course. We continue to use a third-party company to sell shares and retire debt. We are also continuing to aggressively pursue positive outcomes for previously announced pending litigation. These two initiatives were undertaken to contribute to long-term shareholder value in anticipation of the Tribeca Energy transaction which remains on track,” concluded Rinehart.

October 2023 Investor Update Podcast

SIRC will host an investor update podcast with the Company's Chief Executive Officer, Brad Rinehart in early October. The podcast will be available on the official SIRC YouTube channel at https://www.youtube.com/@SIRC_Official.

About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC: SIRC) is an integrated, single-source solutions provider of solar power, roofing and EV charging systems, specializing in commercial and residential properties throughout North America. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. For more information, please visit the Company's Investor Relations website at www.solarintegratedroofing.com, Corporate website at https://www.sirc.com/ or join us on Twitter, LinkedIn or Facebook.