Tauriga Sciences, Inc. Fully Repays $80,000 USD 5% Face Value Convertible Debenture Issued to GS Capital Partners, LLC on June 27, 2017 for One Time Cash Payment of $108,164.38 USD
NEW YORK, NY, Dec 13, 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 is has fully repaid and retired an $80,000 USD Face Value 5.00% convertible debenture held by GS Capital Partners, LLC (“GS Capital”); there remain two outstanding convertible notes still held by GS Capital. This convertible debenture, which was issued by the Company on June 27, 2017, has been fully repaid for a one-time cash payment of $108,164.38 USD. Accordingly, this debt has been removed from the Company’s balance sheet.
The two remaining notes held by GS Capital are as follows: a $48,000 USD Face Value 8.00% Convertible Debenture issued on August 31, 2017 and a $105,000 USD Face Value Convertible Debenture issued on October 17, 2017.
The Company has been focusing its efforts on both improving and strengthening its balance sheet. The Company expects that substantial improvement will be realized by the end of this current quarter (period ending December 31, 2017).
Tauriga’s Chief Executive Officer, Seth M. Shaw, expressed, “The Company will continue to protect its capital structure with great determination and is working diligently towards building a successful future for its shareholders.”