$TAUG Tauriga Sciences, Inc. Signs Major Distribut
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Posted On: 01/25/2021 8:54:45 AM
$TAUG Tauriga Sciences, Inc. Signs Major Distribution Agreement with Online Grocer and Wholesaler, Stock Up Express
https://www.otcmarkets.com/stock/TAUG/news/Ta...?id=287263
Stock Up Express (www.stockupexpress.com) Receives More Than 1,000,000 Annual Online Visitors, Consisting of a Diverse Group of Customers
NEW YORK, NY, Jan. 25, 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 it has entered into a distribution agreement (the “Agreement”) with Stock Up Express, a division of a leading total services distributor that generates more than $3 Billion in annual sales. Stock Up Express is based in Connecticut and is a leading web-based grocer and wholesaler with over 1,000,000 online visitors annually. The Agreement will be effective February 1, 2021, and shall remain in effect for a period of two (2) years thereafter, with automatic renewal for additional successive one (1) year terms.
Under terms of the Agreement, Stock Up Express will market and resell the Company’s flagship brand, Tauri-Gum™, to its large and diverse customer base of wholesalers and retail customers. The revenue sharing ratio established between Tauriga and Stock Up Express has the potential to create significant opportunity for both parties to this Agreement (solid gross margins). Tauri-Gum™ represents the first CBD edibles product/product line to be selected as part of the Stock Up Express network.
The two Companies will jointly market Tauri-Gum™ to Stock Up Express’ customer base, with input by Tauriga on the content of such marketing information to attain consistency on message and to maximize sales. The Agreement allows for modification of product offerings, and Tauriga expects to offer additional items over the course of calendar year 2021.
Tauriga’s CEO, Seth M. Shaw, expressed, “This agreement is an important achievement for Tauriga. Due to the quality of our flagship Tauri-Gum™ product line, the strong team that we have built, and the improving macro-outlook for our industry, this Agreement became possible. Stock Up Express is an outstanding distribution partner and the Company now has access to a large, previously untapped, market segment, at margins that the Company believes is conducive to long term success. Our long-term goal is for Tauri-Gum™ to become a successful, widely distributed, consumer friendly CBD edibles brand. We have now taken an important step in that direction.”
Stock Up Express’ Vice President of E-Commerce, Steven Methvin, commented, “After much consideration and the evaluation of numerous CBD products, our Company has made the decision to enter the CBD edibles space through Tauriga Sciences Inc. and its high-quality products. Stock Up Express will provide an opportunity to present the Tauri-Gum™ brand (and possibly other product offerings to follow) to a large and engaged base of wholesalers and retail customers. Our respective teams work well together and we are all committed to working hard and strategically to build a successful distribution partnership and business model.”
Tauriga Sciences, Inc. was represented by the law firm of Rimon P.C. in the preparation of the Agreement.
https://www.otcmarkets.com/stock/TAUG/news/Ta...?id=287263
Stock Up Express (www.stockupexpress.com) Receives More Than 1,000,000 Annual Online Visitors, Consisting of a Diverse Group of Customers
NEW YORK, NY, Jan. 25, 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 it has entered into a distribution agreement (the “Agreement”) with Stock Up Express, a division of a leading total services distributor that generates more than $3 Billion in annual sales. Stock Up Express is based in Connecticut and is a leading web-based grocer and wholesaler with over 1,000,000 online visitors annually. The Agreement will be effective February 1, 2021, and shall remain in effect for a period of two (2) years thereafter, with automatic renewal for additional successive one (1) year terms.
Under terms of the Agreement, Stock Up Express will market and resell the Company’s flagship brand, Tauri-Gum™, to its large and diverse customer base of wholesalers and retail customers. The revenue sharing ratio established between Tauriga and Stock Up Express has the potential to create significant opportunity for both parties to this Agreement (solid gross margins). Tauri-Gum™ represents the first CBD edibles product/product line to be selected as part of the Stock Up Express network.
The two Companies will jointly market Tauri-Gum™ to Stock Up Express’ customer base, with input by Tauriga on the content of such marketing information to attain consistency on message and to maximize sales. The Agreement allows for modification of product offerings, and Tauriga expects to offer additional items over the course of calendar year 2021.
Tauriga’s CEO, Seth M. Shaw, expressed, “This agreement is an important achievement for Tauriga. Due to the quality of our flagship Tauri-Gum™ product line, the strong team that we have built, and the improving macro-outlook for our industry, this Agreement became possible. Stock Up Express is an outstanding distribution partner and the Company now has access to a large, previously untapped, market segment, at margins that the Company believes is conducive to long term success. Our long-term goal is for Tauri-Gum™ to become a successful, widely distributed, consumer friendly CBD edibles brand. We have now taken an important step in that direction.”
Stock Up Express’ Vice President of E-Commerce, Steven Methvin, commented, “After much consideration and the evaluation of numerous CBD products, our Company has made the decision to enter the CBD edibles space through Tauriga Sciences Inc. and its high-quality products. Stock Up Express will provide an opportunity to present the Tauri-Gum™ brand (and possibly other product offerings to follow) to a large and engaged base of wholesalers and retail customers. Our respective teams work well together and we are all committed to working hard and strategically to build a successful distribution partnership and business model.”
Tauriga Sciences, Inc. was represented by the law firm of Rimon P.C. in the preparation of the Agreement.
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