NEW YORK, NY, Dec. 13, 2017 (GLOBE NEWSWIRE) --
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.”
ABOUT TAURIGA SCIENCES, INC.
Tauriga Sciences, Inc. (OTC PINK: TAUG) is engaged in building life sciences company 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
NON SOLICITATION:
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.
DISCLAIMER:
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 attainment of certain corporate goals and milestones (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 consummate successful acquisition and licensing transactions 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.