NEW YORK, Sept. 20, 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 announced that the Company has received the first product samples of 100% Tree Free Bamboo-Based printing and photo copy paper from Green Hygienics Inc. ("GHI"), Tauriga's exclusive licensor for the North American marketplace. This biodegradable product is comprised exclusively of bamboo pulp rather than wood pulp and the quality compares favorably to competitive products (tree based) in the marketplace. In addition GHI has provided the Company with both pricing and delivery schedules for the bamboo-based printing and copy paper, which are packaged in distinct reams of 250 and 500 sheets. Several potential and prospective customers will be given product samples over the next few days to test the quality of the product and to determine whether the pricing structure is satisfactory for their respective practices or businesses. These potential customers include: law practices, physician practices, hospitals, school districts, adult/nursing homes, and a multi billion dollar Louisiana based corporation. Under terms of the license agreement between Tauriga and GHI, Tauriga will realize 100% of the revenue from purchase orders (pertaining to the license agreement), with net profits being split 50%/50% between the licensor and the licensee. The Company has experienced a high level of interest from a number of potential customers and management is focused on generating profitable revenues during the remainder of calendar year 2013 and beyond. The business prospects are particularly exciting, with respect to this license agreement, because virtually all potential purchase orders represent recurring revenue opportunities, should the customers be satisfied with product performance and logistics management.
In other news, on September 19, 2013, the Company signed a non-binding Letter of Interest ("LOI") with a Cincinnati, Ohio based synthetic biology firm developing a cutting edge technology platform in the NanoRobotics space. This emerging technology field refers to the nanotechnology engineering discipline of designing and building nanorobots, with devices ranging in size from 0.1-10 micrometers and constructed of nanoscale or molecular components. The Company plans to issue a detailed press release on the specifics on this relationship and technology application within the next 20 business days.
Tauriga's CEO Seth M. Shaw commented, "The Company is very pleased to have received samples and a pricing schedule for the first bamboo-based product (printing paper) of the extensive line being offered by its exclusive licensor Green Hygienics Inc. The Company is very encouraged by the level of interest demonstrated by a number of potential customers and is confident in its ability to generate meaningful and profitable revenues from this license agreement. In addition the Company is excited about entering into an LOI with an intriguing technology company that is a pioneer in the synthetic biology space. The two parties are currently progressing through the due diligence phase and are actively negotiating potential structures and financial terms of a formal business relationship. The Company plans to issue an in depth press release on this corporate development within the next 20 business days, as there emerges additional progress and structural clarity."
About Tauriga Sciences, Inc. (TAUG):
Tauriga Sciences, Inc. is a diversified company focused on generating profitable revenues through license agreements and evaluating potentially lucrative acquisition targets in an industry agnostic manner. The mission of the Company is to acquire and build a diversified portfolio of cutting edge 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.