Tauriga Sciences, Inc. Fully Repays and Retires $100,000 Face Value 8.00% Convertible Debenture Issued to Odyssey Capital, LLC on December 18, 2019
The Company Tendered One Time Cash Payment to Odyssey Capital LLC to Fully Repay This Debenture (“Note”)
There Will be No Conversions or Share Issuances in Connection With This Debt Retirement
NEW YORK, NY, June 29, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Tauriga Sciences, Inc. (OTCQB: TAUG) (“Tauriga” or the “Company”), a revenue generating, diversified life sciences company, with a proprietary line of functional “supplement” chewing gums (Flavors: Pomegranate, Blood Orange, Peach-Lemon, Pear Bellini, Mint, Black Currant) as well as two ongoing Biotechnology initiatives, today confirmed the retirement of its previously outstanding $100,000 Face Value 8.00% Convertible Debenture, issued to Odyssey Capital, LLC (“Odyssey”) on December 18, 2019. The Company repaid this Note by tendering a one-time cash payment to Odyssey. This cash payment aggregated the Note’s Principal Amount, OID, Accrued Interest, and Pre-Payment Premium(s). As a result, there will be no share conversions or share issuances in connection to the retirement of this Note.
The Company remains highly confident in its future prospects and will continue to make decisions that enhance the best interests of its shareholders.
ABOUT TAURIGA SCIENCES INC.
Tauriga Sciences, Inc. (TAUG) is a revenue generating, diversified life sciences company, engaged in several major business activities and initiatives. The company manufactures and distributes several proprietary retail products and product lines, mainly focused on the Cannabidiol (“CBD”) and Cannabigerol (“CBG”) Edibles market segment. The main product line, branded as Tauri-Gum™, consists of a proprietary supplement chewing gum that is both Kosher certified and Vegan formulated (CBD Infused Tauri-Gum™ Flavors: Mint, Blood Orange, Pomegranate) & (CBG Infused Tauri-Gum™ Flavor: Peach-Lemon). The Company’s commercialization strategy consists of a broad array of retai customers, distributors, and a fast-growing E-Commerce business segment (E-Commerce website: www.taurigum.com). Please visit our corporate website, for additional information, as well as inquiries, at www.tauriga.com
Complementary to the Company’s retail business, are its two ongoing biotechnology initiatives. The first one relates to the development of a Pharmaceutical grade version of Tauri-Gum™, for nausea regulation (specifically designed to help patients that are subjected to ongoing chemotherapy treatment). On March 18, 2020, the Company announced that it filed a provisional U.S. patent application covering its pharmaceutical grade version of Tauri-Gum™. The Patent, filed with the U.S.P.T.O. is Titled “MEDICATED CBD COMPOSITIONS, METHODS OF MANUFACTURING, AND METHODS OF TREATMENT”. The second one relates to a collaboration agreement with Aegea Biotechnologies Inc. for the co-development of a rapid, multiplexed, Novel Coronavirus (COVID-19) test with superior sensitivity and selectivity.
The Company is headquartered in New York City and operates a regional office in Barcelona, Spain. In addition, the Company operates a full time E-Commerce fulfillment center located in LaGrangeville, New York.
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