NEW YORK, Sept. 17, 2013 (GLOBE NEWSWIRE) -- Tauriga Sciences Inc. (OTCQB:TAUG) ("Tauriga" or "the Company"), a diversified company focused on generating profitable revenues through license agreements and evaluating potentially lucrative acquisition targets in an industry agnostic manner, has today provided shareholders with a brief update on meaningful fundamental progress in implementing its business plan and future aspirations. The Company is pleased to report that Green Hygienics, Inc. (a wholly owned subsidiary of Green Innovations Ltd.), its exclusive North American licensor, announced last Friday the official launch of their 100% Tree-Free, Bamboo-Based line of Eco-Friendly products. Tauriga anticipates the receipt of Bamboo-Based product line in full retail packaging, with final pricing schedules, in the very near term. The Company has already identified several potential customers with a high level of interest in purchasing these products. The final steps for the Company to obtain initial purchase orders are: presentations of retail packaged samples, final pricing schedules, and reliable delivery schedules. The Company reaffirms to shareholders its strong commitment to generating profitable revenues during the final quarter of calendar 2013 and beyond, with the corporate goal of improving its quarterly income statements. In addition the Company has identified a potentially intriguing opportunity in the technology space and has now progressed to the due diligence phase. This proprietary technology platform addresses a very large potential market and management will inform shareholders of any formal agreements via a press release, should one be consummated.
Commenting on the recent corporate achievements, Tauriga's CEO Seth M. Shaw stated, "The Company has focused its efforts on both restoring and creating lasting shareholder value, as well as improving its long term stability and viability as an operating entity. Management is very excited about the launch of the Bamboo-Based consumer products by Green Hygienics, Inc. and the opportunity that the above-mentioned license agreement provides Tauriga with to both generate revenues and enhance its balance sheet through the potential appreciation of the marketable securities. Through hard work and a meticulous evaluation process, the Company has identified a specific cutting edge technology with many potential applications and a large overall addressable market. Management discussions between the two companies have led to meaningful progress and both companies have now entered the due diligence phase; Tauriga is hopeful that further progress will be realized that may lead to a formal agreement."
About Tauriga Sciences, Inc. (TAUG):
Tauriga Sciences, Inc. is a life sciences company that focuses on proprietary biotherapeutics and diagnostics, novel medical devices and consumer healthcare. The mission of the Company is to acquire and build a diversified portfolio of medical technology assets that is capital efficient and of significant value to the shareholders. The Company's business model includes the acquisition of licenses, equity stakes, rights on both an exclusive and non-exclusive basis, and entire businesses. Management is firmly committed to building lasting shareholder value in the short, intermediate, and long terms. The Company's new corporate website can be found at www.tauriga.com.
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, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on TAUG'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 TAUG has little or no control. Such forward-looking statements are made only as of the date of this release, and TAUG 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 TAUG with the Securities and Exchange Commission.
This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of the securities, nor shall there be any sale of the securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities have not been registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration, under the Securities Act and applicable state securities laws.