NEW YORK, April 23, 2014 (GLOBE NEWSWIRE) -- Tauriga Sciences Inc. (OTCQB:TAUG) or ("Tauriga" or "the "Company"), a diversified life sciences company with key assets that include active license agreements and a proprietary microbial powered fuel cell technology, has today confirmed that, in addition to the $900,000 it raised as previously disclosed in the Current Report on Form 8-K filed on April 4, 2014, the Company has raised additional capital exceeding $200,000 USD at the same terms. This private placement capital was secured at a price of 6 cents per share ("$0.06") from various institutional and accredited individual investors, which brings the total raised since March 31, 2014 to more than $1,100,00 USD all at $0.06. There were no warrants or registration rights offered in conjunction with this private placement financing and the shares issued are "restricted securities" as defined by Rule 144 of the Securities Act of 1933, as amended. This additional private placement capital has strengthened the Company's balance sheet and enabled the Company to significantly reduce its outstanding convertible debt; which as of April 23, 2014 is less than $350,000 USD.
The Company believes that it is making meaningful progress in its efforts to commercialize Pilus Energy's proprietary fuel cell technology and is continuing to work towards the completion of its pending acquisition of Honeywood LLC.
Lastly the Company stands by its commitment to repay and retire any remaining convertible debt and is hopeful that this important goal will be realized in the near term.
About Tauriga Sciences, Inc.:
Tauriga Sciences, Inc. (OTCQB:TAUG) is a diversified life sciences company focused on generating profitable revenues through license agreements and the development of a proprietary technology platform in the nano-robotics space. 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. On March 10, 2014, Tauriga signed a definitive agreement to acquire a California based topical cannabis cream company. Please visit the Company's corporate website at (www.tauriga.com).
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.
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.
CONTACT: Tauriga Sciences, Inc.: Dr. Stella M. Sung Chairman and Chief Executive Officer Tauriga Sciences, Inc. www.tauriga.com San Diego: + 1-858-353-5749 Montreal: + 1-514-840-3697 Email: firstname.lastname@example.org
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