Tauriga Sciences Inc. Enters Into $5,000,000 Equity Line of Credit Facility to be Registered on Form S-1
January 23 2020 - 8:06AM
InvestorsHub NewsWire
Tauriga Sciences Inc. Enters Into
$5,000,000 Equity Line of Credit Facility to be Registered on Form
S-1
Financing
Agreement Supports the Company’s Ongoing Efforts to Develop
Pharmaceutical Anti-Nausea
Product
NEW YORK, NY --
January 23, 2020 -- InvestorsHub NewsWire -- 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 entered into a $5,000,000 financing agreement with the
Tangiers Global, LLC (“Tangiers”) investment fund (“Equity Line” or
“Facility”). The $5,000,000 financing is in the form of an Equity
Line of Credit over a maximum duration of 36 months (the “Term”). A
Form S-1 Registration Statement will be filed with the Securities
& Exchange Commission (“SEC”) to register the shares of common
stock that may be issued to Tangiers in connection with this this
financing. Any issuance of shares of Tauriga’s common stock will be
via a Put Notice (“Put”) at the sole discretion of the Company and
may be done in varying sized increments over the Term of the equity
line, for a total investment of up to
$5,000,000.
Tauriga’s Chief
Executive Officer, Seth M. Shaw, expressed: "This funding facility
provides the Company with a viable long-term platform to both grow
its existing operations as well as develop other business
activities under current consideration, including the potential
pharmaceutical grade version of Tauri-Gum™. The Company is always mindful of the best
interests of its shareholders and any utilization of this facility
will be directly correlated with the creation of shareholder value
or the ability to capitalize on major potential business
opportunities. The management team is excited about the
Company’s future prospects and will continue to work with the
greatest levels of passion and
dedication.”
ABOUT TAURIGA
SCIENCES, INC.
Tauriga Sciences,
Inc. is a revenue generating company that operates 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, 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. This CBD infused chewing gum product
has been branded under the following name:
Tauri-Gum™. The Company is currently in production of
three distinct flavors of Tauri-Gum™: MINT, BLOOD ORANGE, and
POMEGRANATE. On December 6, 2019, the Company announced that
it completed the initial production run (thereby expanding its
existing product lines) with the introduction of a 25mg Vegan CBD
Isolate Infused vegan gummy (“gumdrop”), branded under the name:
Tauri-Gummies™. 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.
The Company has
also announced the development of a Cannabigerol (“CBG”) Isolate
infused version of Tauri-Gum™. The flavor that has been
selected is Starfruit/Peach and each piece of gum will contain 10mg
of CBG Isolate / Each blister pack will contain 80mg of CBG
Isolate. The Company expects to commence production during
its 4th Fiscal Quarter of 2020 (January 1, 2020 – March 31,
2020).
In addition, on
March 11, 2019, the Company announced the official launch of its
E-Commerce site - as part of its Tauri-Gum™ commercialization
strategy. This site can be accessed by visiting the following
URL address: www.taurigum.com.
The Company has
established corporate offices in both New York City (USA) and
Barcelona
(Spain).
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
INFORMATION
Tauriga Sciences, Inc.
555 Madison Avenue, 5th Floor
New York, NY 10022
Chief Executive Officer
Mr. Seth M. Shaw
Email: sshaw@tauriga.com
Phone: (917) 796 9926
Corp. Website: www.tauriga.com
E-Commerce
Website: www.taurigum.com
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