NEW YORK, NY, July 09, 2018 (GLOBE NEWSWIRE) -- Tauriga Sciences, Inc. (OTC PINK: TAUG) (OTC PINK: TAUGD) (“Tauriga” or the “Company”), engaged in building its business through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities and equity investments, has today announced that OTC MARKETS GROUP (“OTC MARKETS”) has approved its petition to expedite the up-listing of its shares to the OTCQB Exchange (“OTCQB”). The Company’s shares currently trade on the OTC Pink Sheets - Current Info Tier (the Company had previously been de-listed from the OTCQB on July 31, 2015). The Company petitioned OTC MARKETS, this past week, based upon the circumstances relating to the above-referenced July 31, 2015 de-listing.
Under normal OTCQB up-list procedural rules, shares of Tauriga would have to report a closing price for 30 consecutive trading days of $0.01 (“One Penny”) per share or higher. OTC MARKETS has agreed to reduce this 30-day period to a period of 15 trading days. Therefore, as long as Tauriga maintains a minimum price per share (“closing price”) of $0.01, commencing on Monday July 9, 2018 through July 27, 2018 (“15-day period”), shares of TAUG will be up-listed to OTCQB Exchange at open of trading on Monday July 30, 2018. The Company’s shares will continue to trade under the ticker symbol “TAUGD” until open of trading on Monday August 5, 2018.
Separate from the above mentioned 15-day period, the Company will have to meet two additional qualification requirements: the trading float must comprise at least 10% of the shares issued and outstanding & there must be at least 50 “beneficial” owners. The Company is pleased to report that it does meet the standards as required by those two additional qualification requirements.
Mentioned in the Company’s most recent press release, disseminated on July 6, 2018, as a result of the reverse stock split, Tauriga’s issued and outstanding shares of common stock will decrease from approximately 4,078,179,672 pre-split shares to approximately 54,377,316 post-split shares. The number of authorized shares of the Company’s common stock will be decreased from 7,500,000,000 to 100,000,000. Based on Friday’s closing price of $0.004, the Company expects that its share prices will be adjusted to approximately $0.03 (“3 cents”) at open of trading Monday July 9, 2018 ($0.0004 multiplied by 75 = $0.03).
About Tauriga Sciences, Inc.
Tauriga Sciences, Inc. (OTC PINK: TAUG) is engaged in building business through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities/equity investments. The Company is currently evaluating potential acquisition candidates, as previously disclosed, to create lasting shareholder value. Additionally, the Company is working diligently to identify potential opportunities to generate revenue and leverage its considerable resources and expertise to build a diversified and sustainable business model. Please visit our corporate website at www.tauriga.com
Forward-Looking Statements
This press release contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 which represent management’s beliefs and assumptions concerning future events. These forward-looking statements are often indicated by using words such as “may,” “will,” “expects,” “anticipates,” believes, “hopes,” “believes,” or plans, and may include statements regarding corporate objectives as well as the attainment of certain corporate goals and milestones. Forward-looking statements are based on present circumstances and on management’s present beliefs with respect to events that have not occurred, that may not occur, or that may occur with different consequences or timing than those now assumed or anticipated. Actual results may differ materially from those expressed in forward looking statements due to known and unknown risks and uncertainties, such as are not guarantees of 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, fluctuations in exchange rates, and other factors over which Tauriga has little or no control. Many of these risks and uncertainties are discussed in greater detail in the “Risk Factors” section of Tauriga’s Form 10-K and other filings made from time to time with the Securities and Exchange Commission. 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. You should not place undue reliance on these forward-looking statements.
CONTACT INFORMATION Tauriga Sciences, Inc. 555 Madison Avenue, 5th Floor New York, NY 10022 Chief Executive Officer Mr. Seth M. Shaw Email: sshaw@tauriga.com cell # (917) 796 9926 www.tauriga.com
