NEW YORK, NY, Jan. 15, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — 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.
Tauriga Sciences, Inc.
4 Nancy Court, Suite 4
Wappingers Falls, NY 12590
Chief Executive Officer
Mr. Seth M. Shaw
cell # (917) 796 9926
Company Instagram: @taurigum
Personal Instagram: @sethsms47
Corp. Website: www.tauriga.com
E-Commerce Website: www.taurigum.com