Image of Newly Styled Company Logo
NEW YORK, NY, Jan. 07, 2021 (GLOBE NEWSWIRE) — by way of NewMediaWire — Tauriga Sciences, Inc. (OTCQB:TAUG) (Tauriga or the Company), a income producing, diversified life sciences firm, with a proprietary line of useful complement chewing gums (Flavors: Pomegranate, Blood Orange, Peach-Lemon, Pear Bellini, Mint, Black Currant) in addition to two ongoing Biotechnologies initiatives, at this time introduced that its Board of Directors (BOD) has unanimously voted to terminate its Equity Line of Credit (ELOC or funding Agreement) due to considerably improved fundamentals, macro-business outlook, and company stability sheet.On November 18, 2020 the Company had filed a Form 8-Okay, disclosing its determination to amend its Investment Agreement to cut back the utmost quantity of registered shares which can be salable thereunder from 76,000,000 shares to 43,000,000 shares (corresponding most ELOC greenback quantity was decreased from $5,000,000 to $3,000,000 at the moment).
However, due to the latest enhancements famous above, the Companys BOD has additional decided to terminate the Investment Agreement Entirely pursuant to which the ELOC was established.Accordingly, the Company will withdraw its S-1 Registration Statement associated to this ELOC.
Link to Form 8-Okay (Filed on 11/18/2020): https://www.sec.gov/Archives/edgar/data/1142790/000149315220022012/form8k.htm)
Once this termination is full, the 43,000,000 shares of TAUG frequent inventory (reserved for the ELOC), will likely be returned to Treasury and obtainable for future issuance or reserve, if and as wanted.
The Company believes that this company motion sends a message to the investing public, that administration is changing into more and more assured in regards to the Companys future. Management has eradicated, by way of this company motion, the potential open market strain that an ELOC could create.
ABOUT TAURIGA SCIENCES, INC.
Tauriga Sciences, Inc. (TAUG) is a income producing, diversified life sciences firm, engaged in a number of main enterprise actions and initiatives.The firm manufactures and distributes a number of proprietary retail merchandise and product strains, primarily targeted on the Cannabidiol (CBD) and Cannabigerol (CBG) Edibles market phase.The most important product line, branded as Tauri-Gum, consists of a proprietary complement chewing gum that’s Kosher licensed, Halal licensed, and Vegan Formulated (CBD Infused Tauri-Gum Flavors: Mint, Blood Orange, Pomegranate), (CBG Infused Tauri-Gum Flavors: Peach-Lemon, Black Currant) & (Vitamin C + Zinc Immune Booster Tauri-Gum Flavor: Pear Bellini).The Companys commercialization technique consists of a broad array of retail prospects, distributors, and a fast-growing E-Commerce enterprise phase (E-Commerce web site: www.taurigum.com). Please go to our company web site, for extra data, in addition to inquiries, athttps://www.tauriga.com
Complementary to the Companys retail enterprise, are its two ongoing biotechnology initiatives.The first one relates to the event of a Pharmaceutical grade model of Tauri-Gum, for nausea regulation (particularly designed to assist sufferers which can be subjected to ongoing chemotherapy therapy).On March 18, 2020, the Company introduced that it filed a provisional U.S. patent utility masking its pharmaceutical grade model of Tauri-Gum.The Patent, filed with the united statesP.T.O. is Titled MEDICATED CBD COMPOSITIONS, METHODS OF MANUFACTURING, AND METHODS OF TREATMENT.The second one relates to a collaboration settlement with Aegea Biotechnologies Inc. for the co-development of a fast, multiplexed, Novel Coronavirus (COVID-19) check with superior sensitivity and selectivity.
On October 6, 2020, the Company introduced that it has been authorised to function as a U.S. Government Vendor (CAGE CODE # 8QXV4)
On October 7, 2020 the Company disclosed a Strategic Alliance with Think BIG, LLC, Social Impact Startup Founded by CJ Wallace, Son of Christopher The Notorious B.I.G. Wallace.
The Company is headquartered in New York City and operates a regional workplace in Barcelona, Spain.In addition, the Company operates a full time E-Commerce achievement heart situated in LaGrangeville, New York.
DISCLAIMER — Forward-Looking Statements
This press launch comprises sure forward-looking statements as outlined by the Private Securities Litigation Reform Act of 1995 which symbolize managements beliefs and assumptions regarding future occasions. These forward-looking statements are sometimes indicated through the use of phrases akin to could, will, expects, anticipates, believes, hopes, believes, or plans, and could embrace statements concerning company goals in addition to the attainment of sure company targets and milestones. Forward-looking statements are based mostly on current circumstances and on managements current beliefs with respect to occasions that haven’t occurred, that won’t happen, or that will happen with completely different penalties or timing than these now assumed or anticipated. Actual outcomes could differ materially from these expressed in forward-looking statements due to recognized and unknown dangers and uncertainties, akin to usually are not ensures of normal financial and enterprise situations, the flexibility to efficiently develop and market merchandise, shopper and enterprise consumption habits, the flexibility to consummate profitable acquisition and licensing transactions, fluctuations in trade charges, and different components over which Tauriga has little or no management. Many of these dangers and uncertainties are mentioned in better element within the Risk Factors part of Taurigas Form 10-Okay and different filings comprised of time to time with the Securities and Exchange Commission. Such forward-looking statements are made solely as of the date of this launch, and Tauriga assumes no obligation to replace forward-looking statements to mirror subsequent occasions or circumstances. You shouldn’t place undue reliance on these forward-looking statements.
Tauriga Sciences, Inc.
555 Madison Avenue, fifth Floor
New York, NY 10022
Chief Executive Officer
Mr. Seth M. Shaw
Email: [email protected]
Cell # (917) 796 9926
Corp. Website: www.tauriga.com
E-Commerce Website: www.taurigum.com