Tauriga Sciences Inc. Signs Letter of Intent with Pegasus Medical Holdings, Inc. to Enter the Canadian Marketplace
May 26 2020 - 7:42AM
InvestorsHub NewsWire
The focuses are to Establish the
Tauri-Gum™ Brand in the Canadian Health, Wellness and Retail
Marketplace
NEW YORK, NY -- May 26, 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 executed a Letter of Intent (“LOI”) with Pegasus
Medical Holdings, Inc. (“Pegasus”), to enter the Canadian
marketplace with its flagship brand: Tauri-Gum™. Pegasus will
concurrently enter into an agreement with ParcelPal Technology,
Inc. (“ParcelPal”), a Vancouver, British Columbia based publicly
traded company that provides last mile logistics and delivery
services in Canada (CSE: PKG), which will provide primary logistics
and delivery services for Tauriga’s products. Pursuant to the
intention of the parties and terms set forth in the LOI, the
parties will negotiate in good faith towards a definitive
distribution and license agreement (the “Definitive Agreement”)
setting forth the final terms and conditions therein (including
Pegasus obtaining the appropriate licenses to import and/or sell
the products in Canada). With the completion of the
Definitive Agreement(s), this will enable Tauriga Sciences’
products to successfully enter the Canadian
marketplace.
Upon consummation of the Definitive Agreement, Pegasus plans to
submit a Purchase Order (“PO”) to Tauriga for a minimum of $25,000
USD (which would include inventory comprised of the entire
Tauri-Gum™ product line – both CBD & CBG infused
versions). This LOI is valid until July 20, 2020, unless
extended by mutual agreement of the parties to the LOI, and is
subject to certain conditions precedent, including obtaining the
above-referenced licenses.
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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