The Company Continues to Expand the Presence of its Product Lines on a National Level to an Increasingly Diverse Customer Base
The Company Continues to Expand the Presence of its Product Lines on a National Level to an Increasingly Diverse Customer Base
NEW YORK, NY, May 12, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Tauriga Sciences Inc.. (OTCQB: TAUG) (“Tauriga” or the “Company”), a revenue generating Company that operates through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities and equity investments, today announced that it has increased its product liability insurance coverage to $8,000,000 (previously it had been $5,000,000). The Company continues to expand the presence of its products and product lines on a national level. However, a number of large retail chains require the issuance of Certificate(s) of Insurance with “coverage limit(s) . . . of no less than $7,500,000.” In response, the Company has successfully increased such coverage – to a level above that $7,500,000 threshold.
In other news, the Company is planning to commence production of its 2ndflavor of Cannabigerol (“CBG”) infused Tauri-Gum™ - in the near future - the flavor: Black Currant. The Company has decided to increase the CBG concentration to 15mg (per each piece of Black Currant Tauri-Gum™). The MSRP for this Black Currant Tauri-Gum™ will be set at: $22.99 per Blister Pack.
Tauriga’s CEO Seth M. Shaw expressed, “The Company continues to broaden and diversify its products and product lines, while simultaneously achieving widespread acceptance on a national level. The Company continues to experience strong levels of growth and believes that it has built a foundation conducive to long term success. Separately, the Company is pleased with the progress it continues to make – with respect to its Pharmaceutical Product development as well as its Collaboration Agreement with Aegea Biotechnologies, Inc. (into which it has already invested more than $110,000).”
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 both Kosher certified and Vegan formulated (CBD Infused Tauri-Gum™ Flavors: Mint, Blood Orange, Pomegranate) & (CBG Infused Tauri-Gum™ Flavor: Peach-Lemon). 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 www.tauriga.com
Complementary to the Company’s retail business, are its two ongoing biotechnology initiatives. The first one relates to the development of a Pharmaceutical grade version of Tauri-Gum™, for nausea regulation (specifically designed to help patients that are subjected to ongoing chemotherapy treatment). On March 18, 2020, the Company announced that it 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”. The second one relates to a collaboration agreement with Aegea Biotechnologies Inc. for the co-development of a rapid, multiplexed, Novel Coronavirus (COVID-19) test with superior sensitivity and selectivity.
The Company is headquartered in New York City and operates a regional office in Barcelona, Spain. In addition, the Company operates a full time E-Commerce fulfillment center located in LaGrangeville, 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 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:
CONTACT INFORMATION
Tauriga Sciences, Inc.
555 Madison Avenue, 5th Floor
New York, NY 10022
Chief Executive Officer
Mr. Seth M. Shaw
Email: sshaw@tauriga.com
cell # (917) 796 9926
Instagram: @taurigum
Twitter: @SethMShaw
Corp. Website: www.tauriga.com
E-Commerce Website: www.taurigum.com
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