Tauriga Sciences, Inc. and Ice + Jam LLC Agree to 2-Year Extension of Existing License Agreement to Market Cupuacu Butter Lip Balm
NEW YORK, NY, Nov 27, 2017 (Marketwired via COMTEX) — NEW YORK, NY–(Marketwired – Nov 27, 2017) – Tauriga Sciences, Inc. (otc pink:TAUG) (“Tauriga” or the “Company”) today announced a 2-year extension to the existing non-exclusive License Agreement (the “License Agreement”) with Cleveland, Ohio based cosmetics products firm Ice + Jam LLC (“Ice + Jam”). Under terms of the License Agreement (which was originally disclosed via press release on December 29, 2016 and the Company’s subsequent periodic SEC filings), Tauriga will market Ice + Jam’s proprietary Cupuacu Butter lip balm, sold under the registered trademark “HerMan” and the two companies will evenly share (“50% / 50%”) any and all profits generated by Tauriga’s marketing, sales, and distribution efforts.
With the effectiveness of this 2-year extension, the License Agreement will now be valid through December 23, 2019. Based on mutual agreement, at that time, the companies reserve the option to extend for an additional 2 years (if exercised at that time, this License Agreement would be valid through December 23, 2021).
On October 12, 2017 Tauriga disclosed that the companies have selected the week of December 17, 2017 for the formal launch of “HerMan” branded product. The Company expects that an initial inventory of at least 10,000 HerMan units will be available to support the above-mentioned retail launch.
From a composition analysis, HerMan is primarily composed of the compound Theobroma Grandiflorium (“Cupuacu Butter” or “Superfruit”) to leverage the potential benefits that have been well documented historically (see paragraph directly below). The reformulation process specifically addresses the following two issues: maintaining a formula as close as possible to 100% Cupuacu Butter and preventing the drying out of the product in the packaging tube. This will be accomplished through testing the product with various natural emollients — to determine the best way to maintain the Superfruit’s natural state and texture.
Cupuacu Butter is derived from the fruit of the Cupuacu Tree, a tropical rainforest tree related to Cacao (the base of chocolate production). Common throughout the Amazon basin (South America), it is widely cultivated in the jungles of Colombia, Bolivia and Peru and in the north of Brazil, with the largest production in Pará, followed by Amazonas, Rondônia and Acre. Cupuacu Butter is a good plant alternative to lanolin, offering the capacity to attract 240% more water, allowing it to function much more effectively as a skin hydrator and moisturizer. In addition, though it’s not recognized as an SPF (Sun Protection Factor), Cupuacu Butter is well known for its ability to absorb damaging UVA / UVB rays (“Ultra Violet Rays”) for natural sun protection.
Tauriga has already paid for the first production run of HerMan and is hopeful of generating revenues during the first six months of 2018 and beyond. In addition the Company has already funded part of the marketing budget to support the anticipated upcoming retail launch.
Ice + Jam’s HERMAN product, now jointly distributed by the Company, can be found at the following website link: (http://www.iceandjam.com/shop/herman-cupuacu-butter-balm)
ABOUT TAURIGA SCIENCES, INC.
Tauriga Sciences, Inc. (otc pink:TAUG) is engaged in building businesses through the development, marketing, distribution and potential licensing of a broad array of products and technologies. The Company is presently focused on its upcoming contemplated launch of a Cupacu Butter based lip balm product branded under the name: HerMan. The Company believes that one of its most important strengths is its access to and relationships with potentially substantial distribution systems and networks. The Company intends to capitalize on distribution opportunities and will continually update shareholders on such developments. Please visit the Corporate Website at www.tauriga.com
ABOUT ICE + JAM LLC
Ice + Jam LLC is a fast growing cosmetics products firm headquartered in Cleveland, Ohio. Ice + Jam LLC fuses bold color & luxe ingredients with a dash of wit to create rule-breaking beauty products with one goal in mind: empower your lips. Founded in June 2013 by Ivy Evans & Jamie A. Murphy, Ice + Jam harnesses their industry experience, passion and creativity into a beauty brand that’s all about being crazy, clever and confident. It’s time to put your best lip forward with Ice + Jam’s unreal lip-plumper and bold, long-lasting colors. The company’s website: (www.iceandjam.com)
This press release contains information about Ice + Jam, its business, products and other information contained on Ice + Jam’s website. Tauriga is not responsible for this information, the accuracy of it or the practices of Ice + Jam or the content or the information on Ice + Jam’s website, nor is any such information deemed to be or actually incorporated into Tauriga’s website or this press release.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. Any securities offered or issued in connection with the above-referenced merger and/or investment have not been registered, and will be offered pursuant to an exemption from registration.
Forward-Looking Statements: Except for statements of historical fact, this news release contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation: expectations, expects, anticipates, believes, hopes, beliefs, plans and objectives regarding the development, use and marketability of products as well as the Company’s ability to achieve revenue from HerMan (i.e. SEC Periodic Filings, Filing of Proxies, etc.). Such forward-looking statements are based on present circumstances and on Tauriga’s predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations and other factors over which Tauriga has little or no control. 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. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in documents filed from time to time by Tauriga with the Securities and Exchange Commission.