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Tauriga Sciences, Inc. Fully Satisfies its Financial Obligations Pursuant to Tauri-Gum Manufacturing Agreement
Company Has Paid in Full for Entire Initial Production Run of its CBD Infused Chewing Gum; Branded as Tauri-GumTM
NEW YORK, NY, Jan. 28, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Tauriga Sciences, Inc. (OTCQB: TAUG) (“Tauriga” or the “Company”), engaged in building its business through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities and equity investments, has today announced the full satisfaction of its contractual financial obligations pursuant to its December 28, 2018 Manufacturing Agreement; for the initial production run (estimated to yield approximately 70,000 gum tablets or 8,700 Units) of its CBD infused chewing gum product line; branded as Tauri-GumTM. The Company has also paid research and development costs, most notably concerning the testing of new potential flavors. The Company continues to meet with prospective distributors and potential retail customers, and is on track to commence its commercial launch, during March of 2019.
The Company has also been focused on the construction of its previously mentioned E-Commerce site: (www.taurigum.com), which its plans to launch simultaneously with the commercial launch of Tauri-GumTM. The Company is presently taking meaningful steps towards establishing a reliable and effective order fulfillment infrastructure.
In other related news, the Company successfully obtained the Star-K “Kosher” Certification for its Tauri-GumTM product line on January 23, 2019 (for information about Star-K, see www.star-k.org; however, no information on this website is incorporated into, forms a part of this press release, our filings made with the Securities and Exchange Commission (“SEC”) or our Company’s website).
The Star-K “Kosher” Certification symbol will appear on all of the individual Tauri-GumTM packs, located on the upper left corner (Front Side).
AN IMPORTANT COMMITMENT: The Company wishes to confirm to its shareholders, that at all times, it will remain in compliance with both U.S. Federal and individual State rules and regulations & laws that govern this sector. At the same time, the Company will be constantly monitoring the legal landscape which could experience material change(s), at any point in the future.
Studies have shown that a chewing gum product may provide a superior delivery method for distributing its key active ingredients (such as CBD), in comparison to other oral dosage forms, such as: pills, capsules, beverages, and gummies. As an individual chews gum, the CBD is released from the gum quickly and is absorbed by the Oral Mucosa, rather than the Digestive System. Bypassing the Digestive Tract allows the CBD to maintain its inherent bioavailability, and it also means that the CBD gets absorbed by the body – substantially faster than other forms of Oral Ingestion. Studies have also shown that CBD that is swallowed as capsules, beverages, gummies or edibles delivers less than 10% of the CBD shown on each respective label.
ABOUT: TAURIGA SCIENCES, INC.
Tauriga Sciences, Inc. (TAUG) is engaged in building business through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities. One such opportunity on which the Company has acted during the quarter ended December 31, 2018, involves the Company having entered into the cannabidiol (or “CBD”) infused chewing gum product business, as more fully described above and in prior press releases. See also our periodic reports filed by us with the SEC for a more complete description of our business and material agreements that we have entered into. Further, the Company continues to identify and evaluate additional potential opportunities to generate revenue, as well as shareholder value, and leverage its resources and expertise to build a diversified and sustainable business model. Please visit our corporate website at www.tauriga.com.
This press release contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 which represent management’s beliefs and assumptions concerning future events. These forward-looking statements are often indicated by using words such as “may,” “will,” “expects,” “anticipates,” believes, “hopes,” “believes,” or plans, and may include statements regarding corporate objectives as well as the attainment of certain corporate goals and milestones. Forward-looking statements are based on present circumstances and on management’s present beliefs with respect to events that have not occurred, that may not occur, or that may occur with different consequences or timing than those now assumed or anticipated. Actual results may differ materially from those expressed in forward-looking statements due to known and unknown business, financial and legal risks and uncertainties, and as such as are not guarantees of general economic and business conditions, the ability to successfully develop, sell and market products, consumer, and business consumption habits, the ability to consummate successful acquisition and licensing transactions, fluctuations in exchange rates, and other factors over which Tauriga has little or no control. Many of these risks and uncertainties are discussed in greater detail in the “Risk Factors” section of Tauriga’s annual report on Form 10-K, quarterly reports on Form 10-Q and other filings made by us from time to time with the SEC. Such forward-looking statements are made only as of the date of this release, and Tauriga assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. You should not place undue reliance on these forward-looking statements.
CONTACT: Contact: Tauriga Sciences, Inc. 555 Madison Avenue, 5th Floor New York, NY 10022 Chief Executive Officer Mr. Seth M. Shaw Email: firstname.lastname@example.org Tel. # (917) 796 9926 www.tauriga.com