Tauriga Sciences Inc. Completely Free of Convertible Debt

Rhea-AI Summary

Tauriga Sciences (OTCQB: TAUG) announced the full repayment and retirement of its final convertible debenture valued at $210,000, enhancing its financial position. This milestone comes as the company celebrates the two-year anniversary of its Tauri-Gum product line, which includes CBD and CBG infused chewing gums. CEO Seth M. Shaw highlighted this achievement as an indicator of the company's progress and its commitment to building shareholder value through diverse product offerings and a focus on pharmaceutical development.

Positive

• Complete eradication of convertible debt enhances financial stability.
• Celebration of two-year anniversary of Tauri-Gum product line marks successful product launch.
• Ongoing pharmaceutical development initiative enhances growth prospects.

Negative

• None.

The Company Has Fully Repaid and Retired Its Final Outstanding Convertible Debenture

NEW YORK, NY, March 15, 2021 (GLOBE NEWSWIRE) --  via NewMediaWire -- Tauriga Sciences, Inc. (OTCQB: TAUG) (“Tauriga” or the “Company”), a revenue generating, diversified life sciences company, with a proprietary line of CBD & CBG infused Supplement chewing gums (Flavors: Pomegranate, Blood Orange, Peach-Lemon, Pear Bellini, Mint, Black Currant), additional product offerings, as well as an ongoing Pharmaceutical Development initiative, today announced that it is completely free of convertible debt. The final outstanding convertible debenture (the “Debenture”), $210,000 Face Value, was issued by the Company during December 2020.  At that time, this Debenture enabled the Company to resume its Pharmaceutical development efforts.  

Tauriga’s CEO Seth M. Shaw commented, “Our management team takes great pride in this achievement as it symbolizes both fundamental progress as well as perseverance.  Especially with today’s date being the 2-year anniversary of the commercial launch of Tauri-Gum product line.  Over that period, the Company has stayed true to its long-term vision and has built a world-class product line, a valuable brand, a diversified suite of offerings, an exciting pharmaceutical development initiative, and a strong corporate balance sheet.  The Company is focused on building shareholder value over the short, intermediate, and long terms.”

ABOUT TAURIGA SCIENCES INC.

Tauriga Sciences, Inc. (TAUG) is a revenue generating, diversified life sciences company, engaged in several major business activities and initiatives.  The company manufactures and distributes several proprietary retail products and product lines, mainly focused on the Cannabidiol (“CBD”) and Cannabigerol (“CBG”) Edibles market segment.  The main product line, branded as Tauri-Gum™, consists of a proprietary supplement chewing gum that is Kosher certified, Halal certified, 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” Flavor: Pear Bellini).  The Company’s commercialization strategy consists of a broad array of retail customers, distributors, and a fast-growing E-Commerce business segment (E-Commerce website: www.taurigum.com). Please visit our corporate website, for additional information, as well as inquiries, at http://www.tauriga.com

Complementary to the Company’s retail business, is its ongoing Pharmaceutical Development initiative.  This relates to the development of a proposed Pharmaceutical grade version of Tauri-Gum™, for nausea regulation (specifically designed for the following indication: Patients Subjected to Ongoing Chemotherapy Treatment). On March 18, 2020, the Company announced that it had filed a provisional U.S. patent application covering its pharmaceutical grade version of Tauri-Gum™.  The Patent, filed with the U.S.P.T.O. is Titled “MEDICATED CBD COMPOSITIONS, METHODS OF MANUFACTURING, AND METHODS OF TREATMENT”.  On December 18, 2020 the Company disclosed that it had entered into a Master Services Agreement with CSTI to lead the Company's clinical development efforts.

The Company is headquartered in Wappingers Falls, New York.  In addition, the Company operates two full time E-Commerce fulfillment centers: one located in Montgomery, Texas and the other in Brooklyn, New York.

DISCLAIMER -- Forward-Looking Statements

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 risks and uncertainties, such as are not guarantees of general economic and business conditions, the ability to successfully develop 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 Form 10-K and other periodic filings made from time to time with the Securities and Exchange Commission. 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:

Tauriga Sciences, Inc.

4 Nancy Court, Suite 4

Wappingers Falls, NY 12590

Chief Executive Officer

Mr. Seth M. Shaw

Email: sshaw@tauriga.com

cell # (917) 796 9926

Company Instagram: @taurigum

Personal Instagram: @sethsms47

Twitter: @SethMShaw

Corp. Website:   www.tauriga.com

E-Commerce Website:  www.taurigum.com

FAQ

What recent financial milestone did Tauriga Sciences (TAUG) achieve?

Tauriga Sciences fully repaid its final outstanding convertible debenture, improving its financial position.

When did Tauriga Sciences launch its Tauri-Gum product line?

Tauriga Sciences launched its Tauri-Gum product line two years ago from the date of the press release on March 15, 2021.

What are the product offerings of Tauriga Sciences (TAUG)?

The company offers a proprietary line of CBD and CBG infused chewing gums under the Tauri-Gum brand.

What is the significance of the recent press release for TAUG shareholders?

The elimination of convertible debt is expected to enhance shareholder value and financial stability.