Tauriga Sciences Inc. to Proceed in Development and Launch of Cannabis Infused Chewing Gum Product Line
New York, NY, Nov 29, 2018 (GLOBE NEWSWIRE via COMTEX) — New York, NY, Nov. 29, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Tauriga Sciences, Inc. (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 the Company will proceed in the development and launch of a Cannabis and/or Cannabidiol (“CBD”) infused chewing gum product line. The Company expects to proceed with a dual tiered approach at this time, with respect to this product development. The first tier of this approach would include an initial product launch of a formulation that is currently legal to sell throughout the United States. The second tier of this approach will be the development of formulation(s) for a potential second-generation product line, which will remain solely as formulation(s), for the foreseeable future); this should strategically position the Company, should the legal landscape change with respect to U.S. Federal laws and regulations.
The Company is currently in substantive discussions with qualified specialty chewing gum manufacturer(s); capable of co-developing this above-referenced product line. These prospective manufacturer(s) candidate(s) are based out of both the United States and Canada. The Company will notify its shareholders via press release and on Form 8-K, should a formal agreement be entered into with one or more of these above-referenced chewing gum manufacturers.
AN IMPORTANT COMMITMENT: The Company wishes to confirm to its shareholders, that at all times, it will remain in compliance with both U.S. Federal and individual State rules and regulations & laws that govern this sector. At the same time, the Company will be constantly monitoring the legal landscape which may experience material change(s), at any point in the future.
Studies have shown that a chewing gum product may provide a superior delivery method for distributing its key active ingredients (such as CBD), in comparison to other oral dosage forms, such as: pills, capsules, beverages, and gummies. As an individual chews gum, the CBD is released from the gum quickly and is absorbed by the Oral Mucosa, rather than the Digestive System. Bypassing the Digestive Tract allows the CBD to maintain its inherent bioavailability, and it also means that the CBD gets absorbed by the body – substantially faster than other forms of Oral Ingestion. Studies have also shown that CBD that is swallowed as capsules, beverages, gummies or edibles delivers less than 10% of the CBD shown on each respective label. With CBD Infused Chewing Gum, an individual can get relief for aches and pains in rapid time, and at a dose that is potentially strong enough to make a noticeable difference, and delivered cost effectively without wasting the majority of the CBD consumed.
Tauriga’s CEO, Seth M. Shaw, commented, “Over the past few months, the Company has been evaluating this opportunity with great enthusiasm and energy. The Company believes that if successful in executing the development and launch of this chewing gum product line, it can provide its shareholders with short, intermediate, and long-term opportunity. The Company has strategized a two-tier approach to the development of this proposed product line; that will enable a potential product launch in the short, a potential product pipeline in the long term, and full compliance with and adherence to Federal laws & regulations at all times.”
Late last year, a certain event occurred (which has been disclosed multiple times) that materially improved the Company’s balance sheet as well as access to capital markets. The Company believes that it has the financial strength and flexibility to properly develop and launch a product line – as proposed herein. At the same time, there can be no guaranty that the Company will be successful in developing and launching this proposed product line to the retail marketplace.
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/equity investments. The Company is currently evaluating potential acquisition candidates, as previously disclosed, to create lasting shareholder value. Additionally, the Company is working diligently to identify potential opportunities to generate revenue and leverage its considerable resources and expertise to build a diversified and sustainable business model. Please visit our corporate website at www.tauriga.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.