Tauriga Sciences Inc. Approved by Major Global Financial Institution to Process Credit Card Transactions on its E-Commerce Site
New York, NY, June 18, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — 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 been approved by a major global financial institution (“financial institution”) to process credit card transactions on its E-Commerce site (www.taurigum.com). Until now, the Company has been limited to PayPal and Order by Mail Forms, as the only viable options for its E-Commerce customers. Between its E-Commerce launch date of March 11, 2019 and June 16, 2019, the Company can confirm that there have been several hundred E-Commerce transactions that were unable to be completed – with an aggregate value in excess of $50,000. The Company believes that it has achieved a highly important corporate milestone and that, as a result, its business prospects are materially stronger heading into the second half of Calendar Year 2019.
Moving forward, the Company plans to implement marketing strategies that have the potential to substantially increase traffic to its E-Commerce Site. Management is confident that the Company can handle significant increases in E-Commerce transactions, as a solid fulfillment infrastructure was established to support the March 2019 official launch – there have even been some upgrades, since that time.
Tauriga’s CEO Seth M. Shaw expressed, “The Company is pleased to have earned this important approval from a major credit card processing firm. The Company is in a much stronger position now, as it can increase its ability to generate meaningful revenue from its highest margin source. Overall, the Company continues to be encouraged by the market acceptance of its products as well as the positive feedback that it has been receiving from its many customers (including the outstanding testimonials). There has also been a substantial increase in customer re-orders, which is something of great importance, as the Company plans to introduce additional products over the course of the next days, weeks, and months.”
ABOUT TAURIGA SCIENCES INC.
Tauriga Sciences, Inc. (TAUG) 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™. See also our periodic reports filed by us with the SEC for a more complete description of our business and material agreements that we have entered into. 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.
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.