Tauriga Sciences Inc. Secures $135,000 in Inventory Factoring Capital to Support its Accelerating Revenue Growth
October 06 2020 - 1:51PM
InvestorsHub NewsWire
This $135,000 Was
Structured as a Non-Convertible Promissory Note, With 6-Month Grace
Period, to be Repaid in 7 Equal Monthly Installments (April 5, 2021
thru October 5,
2021)
NEW YORK, NY --
October 6, 2020 -- InvestorsHub NewsWire
-- Tauriga Sciences, Inc. (OTCQB: TAUG)
(“Tauriga” or the “Company”), a revenue generating, diversified
life sciences company, with a proprietary line of functional
“supplement” chewing gums (Flavors: Pomegranate, Blood Orange,
Peach-Lemon, Pear Bellini, Mint, Black Currant) as well as two
ongoing Biotechnology initiatives, today announced that it secured
$135,000 in Inventory Factoring Capital (“Factoring), with an
institutional investor, to support both its accelerating revenue
growth and ongoing national product launch. This
$135,000 in Factoring capital was structured as a non-convertible
promissory note (interest bearing: 10.00% per annum), with a built
in 6-month grace period. Repayment of this loan,
contractually, will occur in 7 equal monthly payments of $21,214.29
(Repayment Period: April 5, 2021 thru October 5,
2021).
The Broker Dealer,
Moody Capital, acted as the Placement Agent for this
transaction.
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 http://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:
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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