Tauriga Sciences Inc. Increases its Research & Development Budget to Continually Enhance its CBD Infused Chewing Gum Product Line
New York, NY, March 20, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Tauriga Sciences, Inc. (OTCQB: TAUG) (“Tauriga” or the “Company”), engaged in building its business 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 increased its Research & Development (“R & D”) budget to continually improve and enhance its CBD infused chewing gum (“CBD Gum”) product line, branded as Tauri-Gum™. The Company is currently in the process of establishing two new Tauri-Gum™ flavors to complement its existing MINT flavor. The Company will modify its existing graphic design and artwork to correlate with blister packs (front and back) of the new Tauri-Gum™ flavor(s). There is also a plan to test a thin candy coating on samples of Tauri-Gum™ tablets, to determine whether it improves the taste and texture.
In other news, The Company is finalizing the terms of a comprehensive distribution agreement (the “Agreement”) with a major New York City headquartered firm (the “Distributor”). This Distributor has a major presence throughout the New York City Metropolitan area (“NYC Metro area”), as well as other regions of the United States, and generates annual revenue well in excess of $100,000,000. Should the Company be successful in consummating this Agreement, it will notify its shareholders promptly – via a press release.
ABOUT: TAURIGA SCIENCES, INC.
Tauriga Sciences, Inc. (TAUG) is engaged in building business 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
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.