Tauriga Sciences, Inc. Comments on Recent Activity Related to Unauthorized Third-Party Stock Promotion Materials Referencing the Company
New York, NY, Oct. 23, 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 is commenting on recent activity related to unauthorized third-party stock promotion materials (the “stock promotion” or “materials”) that reference the Company. Such materials were brought to the Company’s attention by the compliance department of OTC Markets (late afternoon on Tuesday October 22, 2019). The Company became aware of three such firms that released unauthorized materials: Beat Penny Stocks, OTC Rockstar, and Penny Picks, that released newsletters and email blasts in an unauthorized stock promotion which appeared to encourage readers to invest in the Company’s common stock and were misleading. The Company wishes to express in the strongest possible terms that it had no knowledge of this third-party sponsored stock promotion and such promotion materials which included our logo and excerpts of previously issued press releases are disseminated without the consent, approval, or permission from the Company.
Neither the Company nor its officers and directors were involved in any manner, with the creation, distribution or payment of these materials. While the materials contained a description about the Company’s business, the Company cannot comment on the statements made about the trading analytics of the Company’s stock. The Company has not engaged the services of any third-party providers to provide investor or public relations services and as stated, had no knowledge of these stock promotions. At this time, we can confirm that none of the Company’s officers or directors or control persons (those owners that own 10% or more of the common stock of the Company) were involved. Further, none of these persons has sold shares in the Company’s stock in the past 90 days.
The Company has entered into convertible debt arrangements with reputable third-party lenders who have converted their debt in to shares of the Company’s stock at a discount. The Company has entered into these arrangements in the past few years and has no reason at this time to believe that these arrangements have led to the unauthorized stock promotion. The Company has begun however a review of trading activity and will take any action it believes necessary to address such unauthorized third-party actions.
Please review all of our SEC filings in Forms 10-K, 10-Q and 8-K for details on these convertible debt arrangements including conversions into common stock.
The Company has been very active in presenting at various industry and microcap conferences in the past few months, and that may be a factor in these unauthorized companies targeting us.
Furthermore, the Company has notified OTC Markets that the Company’s policy is to never engage in any type of stock promotion or stock pumping activity. The Company, unfortunately, cannot control the actions of third parties with whom the Company has no relationship with and no previous knowledge of. The Company will be rigorously investigating this unauthorized third-party conduct and make every attempt to identify the stock promoters who presented this unauthorized material to the public and we will pursue any and all avenues available to us to the fullest extent of the law. The Company will issue cease and desist orders against the three companies identified herein as soon as practicable, and any additional persons or entities that undertake such conduct.
The Company asks that all of its shareholders, as well as the investing public, solely rely on information that is disseminated through either authorized company press releases or periodic SEC Filings. Any other types of disseminated information should be entirely disregarded and ignored by the investing public.
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™. The Company is currently in production of three distinct flavors of Tauri-Gum™: MINT, BLOOD ORANGE, and POMEGRANATE. 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.