Tauriga Sciences Inc. (TAUG) Elects To Purchase Key Man Insurance Policies For Both Its Chief Executive Officer and Chief Operating Officer for $6,000,000 USD And $3,000,000 USD Respectively
1/17/2014 9:13:55 AM
DANBURY, Conn., Jan. 17, 2014 (GLOBE NEWSWIRE) -- Tauriga Sciences, Inc. (OTCQB:TAUG) or ("Tauriga" or "the Company"), a diversified company focused on generating profitable revenues through license agreements and the development of a proprietary technology platform in the nanorobotics space, has today announced that it has elected to purchase two key man insurance policies for both its Chief Executive Officer ("CEO"), Mr. Seth M. Shaw, and its Chief Operating Officer ("COO"), Dr. Stella M. Sung ("Dr. Sung"). These policies will be purchased from Minnesota Life Insurance Company ("Minnesota Life"), for $6,000,000 USD and $3,000,000 USD respectively, providing the company with protection in the event of terminal illness, severe incapacitation, or untimely death afflicting either the CEO or COO. The Company expects that both policies, which carry 5 year initial terms, will be in full effect within the next 10 business days.
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