Tauriga Sciences, Inc. to Diversify $25,000 of its Balance Sheet Cash into Groestlcoin and Gain Exposure to the Crypto Currency Sector
NEW YORK, NY, Dec 27, 2017 (GLOBE NEWSWIRE via COMTEX) —
Tauriga Sciences, Inc. (OTC PINK: TAUG) (“Tauriga” or the “Company”), engaged in building business through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities/equity investments, today announced that the Company has decided to purchase, in total, $25,000 of the crypto currency called Groestlcoin (Crypto Currency Code: GRS). This $25,000 aggregate purchase will be funded by the Company’s available cash and is expected to be completed over the next 90 days (this $25,000 purchase will occur in several distinct tranches on several distinct dates).
As of December 27, 2017, the Company has already transferred $10,000 to San Francisco based digital currency exchange COINBASE — to facilitate the purchase of the initial tranche of Groestlcoin. The Company anticipates that the purchase of this first Groestlcoin tranche will be completed by January 10, 2018. Once this initial tranche purchase is complete, the Company will notify shareholders on Form 8K to disclose the specifics of the completed transaction(s).
The Company has been evaluating multiple opportunities to gain a degree of exposure to the crypto currency market sector. The Company has opted to acquire $25,000 of Groestlcoin, due to the comparatively low current market capitalization of Groestlcoin and the specific features of this crypto currency that Tauriga believes differentiates it from the more than 1,000 other choices (available to the Company for gaining exposure to this sector).
Tauriga’s Chief Executive Officer, Seth M. Shaw, expressed, “The Company has decided to provide its shareholders with a degree of exposure to the crypto currency sector. The Company believes that it has accomplished this corporate aim in both a measured and responsible manner. After carefully evaluating a number of crypto currencies, which incorporate block chain technology, the Company believes that Groestlcoin has incorporated some important features that differentiates it from other crypto currencies. The Company also understands that any exposure to this sector, at this point in time, carries a high level of inherent risk. Therefore, the Company has limited its downside to $25,000 but is hopeful that this exposure to Groestlcoin will ultimately be successful for its shareholders.”
Please see the two below links for additional information on Groestlcoin:
The long term strategic plan for Tauriga Sciences Inc. remains as disclosed in the Company’s press release dated November 15, 2017; to consummate one or more significant acquisition and/or licensing transactions during the calendar year 2018 to both restore and create long term shareholder value.