$TAUG Tauriga Sciences Inc. Taking Immediate Steps
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Posted On: 01/15/2021 12:22:18 PM
$TAUG Tauriga Sciences Inc. Taking Immediate Steps to Strengthen its Board of Directors and Corporate Governance Protocols With Aim Towards Future Up-List to a National Stock Exchange
https://www.otcmarkets.com/stock/TAUG/news/Ta...?id=286378
NEW YORK, NY, Jan. 15, 2021 (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 CBD & CBG infused Supplement chewing gums (Flavors: Pomegranate, Blood Orange, Peach-Lemon, Pear Bellini, Mint, Black Currant) as well as an ongoing Pharmaceutical Development initiative, today announced that, in compliance with the Florida Business Corporations Act, and its governing corporate documents and rules relating thereto, the Company’s board will take immediate steps to begin increasing the number of members serving on its Board of Directors (“Board”) to seven, with a majority of such resulting Board being “independent” members. Additionally, the Company will promptly begin implementing more stringent and improved corporate governance (“Governance”) protocols and policies. We intend to implement and complete these steps by March 31, 2021 or as soon as practicable. In addition to appointing qualified and experienced new board members, the Company has also committed to focus on diversity in appointing one or more members to our Board. As required under applicable SEC disclosure rules, we will timely report any new board appointments as they occur either via Form 8-K or such other quarterly or annual report, as the case may be.
With respect to implementing a more comprehensive set of Governance protocols and policies, the Company plans to establish the following Committee(s): Audit Committee, Compensation Committee, Nomination Committee, and to implement a Code of Conduct policy, and a qualified equity incentive compensation plan, each of which will be included or described in the Company’s SEC filings as and when implemented.
We believe that executing on the above-noted items will both strengthen our Company from a governance perspective and an operational one as well, as we will seek board members with appropriate experience and backgrounds that can help us sustain and improve further growth. The Company’s long-term goal is to execute on its business plan and corporate objectives and, ultimately, to up-list to a national stock exchange, such as the NASDAQ Stock Market if and when we are able to meet such listing and maintenance requirements; however, there can be no guarantee that any future up-listing can or will occur.
Lastly, the Company expects to appoint a 4thMember to its Board of Directors, within the very near term. This 4thBoard Member, once formally appointed, will serve as an Independent Director.
https://www.otcmarkets.com/stock/TAUG/news/Ta...?id=286378
NEW YORK, NY, Jan. 15, 2021 (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 CBD & CBG infused Supplement chewing gums (Flavors: Pomegranate, Blood Orange, Peach-Lemon, Pear Bellini, Mint, Black Currant) as well as an ongoing Pharmaceutical Development initiative, today announced that, in compliance with the Florida Business Corporations Act, and its governing corporate documents and rules relating thereto, the Company’s board will take immediate steps to begin increasing the number of members serving on its Board of Directors (“Board”) to seven, with a majority of such resulting Board being “independent” members. Additionally, the Company will promptly begin implementing more stringent and improved corporate governance (“Governance”) protocols and policies. We intend to implement and complete these steps by March 31, 2021 or as soon as practicable. In addition to appointing qualified and experienced new board members, the Company has also committed to focus on diversity in appointing one or more members to our Board. As required under applicable SEC disclosure rules, we will timely report any new board appointments as they occur either via Form 8-K or such other quarterly or annual report, as the case may be.
With respect to implementing a more comprehensive set of Governance protocols and policies, the Company plans to establish the following Committee(s): Audit Committee, Compensation Committee, Nomination Committee, and to implement a Code of Conduct policy, and a qualified equity incentive compensation plan, each of which will be included or described in the Company’s SEC filings as and when implemented.
We believe that executing on the above-noted items will both strengthen our Company from a governance perspective and an operational one as well, as we will seek board members with appropriate experience and backgrounds that can help us sustain and improve further growth. The Company’s long-term goal is to execute on its business plan and corporate objectives and, ultimately, to up-list to a national stock exchange, such as the NASDAQ Stock Market if and when we are able to meet such listing and maintenance requirements; however, there can be no guarantee that any future up-listing can or will occur.
Lastly, the Company expects to appoint a 4thMember to its Board of Directors, within the very near term. This 4thBoard Member, once formally appointed, will serve as an Independent Director.
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