Tauriga Sciences Inc. Taking Immediate Steps to Strengthen its
Board of Directors and Corporate Governance Protocols With Aim
Towards Future Up-List to a National Stock Exchange
NEW YORK, NY -- January 15, 2021 -- InvestorsHub NewsWire
-- Tauriga Sciences, Inc. (OTCQB: TAUG)
(“Tauriga” or the “Company”), a revenue generating, diversified
life sciences company, with a proprietary line of CBD & CBG
infused Supplement chewing gums (Flavors: Pomegranate, Blood
Orange, Peach-Lemon, Pear Bellini, Mint, Black Currant) as well as
an ongoing Pharmaceutical Development initiative, today announced
that, in compliance with the Florida Business Corporations Act, and
its governing corporate documents and rules relating thereto, the
Company’s board will take immediate steps to begin increasing the
number of members serving on its Board of Directors
(“Board”) to seven, with a majority of such resulting
Board being “independent” members. Additionally, the Company
will promptly begin implementing more stringent and improved
corporate governance (“Governance”) protocols and
policies. We intend to implement and complete these
steps by March 31, 2021 or as soon as
practicable. In addition to appointing qualified
and experienced new board members, the Company has also committed
to focus on diversity in appointing one or more members to our
Board. As required under applicable SEC disclosure
rules, we will timely report any new board appointments as they
occur either via Form 8-K or such other quarterly or annual report,
as the case may be.
With respect to implementing a more comprehensive set of
Governance protocols and policies, the Company plans to establish
the following Committee(s): Audit Committee, Compensation
Committee, Nomination Committee, and to implement a Code of Conduct
policy, and a qualified equity incentive compensation plan, each of
which will be included or described in the Company’s SEC filings as
and when implemented.
We believe that executing on the above-noted items will both
strengthen our Company from a governance perspective and an
operational one as well, as we will seek board members with
appropriate experience and backgrounds that can help us sustain and
improve further growth. The Company’s long-term goal is
to execute on its business plan and corporate objectives and,
ultimately, to up-list to a national stock exchange, such as the
NASDAQ Stock Market if and when we are able to meet such listing
and maintenance requirements; however, there can be no guarantee
that any future up-listing can or will occur.
Lastly, the Company expects to appoint a 4thMember to
its Board of Directors, within the very near term. This
4thBoard Member, once formally appointed, will serve as
an Independent Director.
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 Kosher certified, Halal certified, and Vegan Formulated (CBD
Infused Tauri-Gum™ Flavors: Mint, Blood Orange, Pomegranate), (CBG
Infused Tauri-Gum™ Flavors: Peach-Lemon, Black Currant) &
(Vitamin C + Zinc “Immune Booster” Flavor: Pear
Bellini). 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, is its ongoing
Pharmaceutical Development initiative. This relates to the
development of a proposed Pharmaceutical grade version of
Tauri-Gum™, for nausea regulation (specifically designed for the
following indication: Patients Subjected to Ongoing Chemotherapy
Treatment). On March 18, 2020, the Company announced that it had
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”. On December 18,
2020 the Company disclosed that it had entered into a Master
Services Agreement with CSTI to lead the Company's clinical
development efforts.
On October 6, 2020, the Company announced that it has been
approved to operate as a U.S. Government Vendor (CAGE CODE #
8QXV4)
The Company is headquartered in Wappingers Falls, New
York. 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.
4 Nancy Court, Suite 4
Wappingers Falls, NY 12590
Chief Executive Officer
Mr. Seth M. Shaw
Email: sshaw@tauriga.com
cell # (917) 796 9926
Company Instagram: @taurigum
Personal Instagram: @sethsms47
Twitter: @SethMShaw
Corp. Website: www.tauriga.com
E-Commerce Website: www.taurigum.com
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