SAN FRANCISCO, June 17, 2013 (GLOBE NEWSWIRE) -- Tauriga Sciences, Inc. (OTCQB:TAUG) ("Tauriga" or "the Company"), a diversified life sciences company focused on investing in proprietary biotherapeutics and diagnostics, novel medical devices and consumer healthcare, has today announced that the Company and Green Hygienics, Inc. ("Green Hygienics"), in the coming week, will commence presentations to key distribution groups in the southeast United States who have a mission for the conversion to environmentally friendly products for the hospitals that they supply. Tauriga has been making great strides since the execution of the Licensing Agreement ("Licensing Agreement") with Green Hygienics, a wholly-owned subsidiary of Green Innovations Ltd. (OTCQB:GNIN), for the North American exclusive distribution for commercial use of its 100% tree-free, bamboo-based, biodegradable, hospital grade wipes along with other complementary green products. The Company's long-term vision, pursuant to the license agreement, is the successful marketing of 100% tree-free, bamboo-based products including, but not limited to, wipes, bath tissue, paper towels, diapers, sanitary napkins and more, to the commercial marketplace of North America. All Green Hygienics' products are available through exclusive licensing agreements between Green Hygienics and its strategic partners and their respective manufacturing facilities in mainland China.
In addition, Tauriga is pleased to report to shareholders that the Company has now paid a total of $128,750 to Green Hygienics pursuant to the Licensing Agreement, therefore the Company has now received 321,875 shares of GNIN for that paid in capital. To completely satisfy the financial terms of the previously announced 5 year exclusive North American Licensing Agreement, the Company is required to pay a total of $250,000 to Green Hygienics on or before September 1, 2013, for which the Company receives 625,000 shares of GNIN restricted stock. Both companies and their respective management teams are working diligently to generate meaningful revenues during calendar year 2013.
Commenting on the Licensing Agreement progress, Tauriga CEO Seth M. Shaw expressed, "The Company is excited to start its presentations to the commercial marketplace and has great confidence in both the quality and social benefits of the Green Hygienics' product line. Our initial strategy will be to target U.S. and Canada based hospitals, adult and nursing homes, school districts, private medical practices, and the distribution companies that service these industries. It is of great importance to establish relationships with major distributors servicing large medical establishments and educate them as to the merits of our licensed product line. The Company expects to fully satisfy the financial terms of the Licensing Agreement in the near term and will notify shareholders when this important milestone is accomplished."
According to the American Hospital Association (AHA), as of 2011, there were 5,724 registered U.S. hospitals and, according to the U.S. Census Bureau Statistical Abstract of the United States: 2012, as of 2009, there were 15,700 nursing homes in the U.S. with approximately 1.4 million residents.
About Tauriga Sciences, Inc.
Tauriga Sciences, Inc. (OTCQB:TAUG) is a life sciences company that focuses on proprietary biotherapeutics and diagnostics, novel medical devices and consumer healthcare. The mission of the Company is to acquire and build a diversified portfolio of medical 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. The Company's new corporate website can be found at www.taurigasciences.com.
About Green Innovations Ltd.
Green Innovations Ltd. (GNIN), through its wholly-owned subsidiary Green Hygienics, Inc., is the exclusive licensed North American distributor of American Hygienics Corporation's 100% tree-free bamboo-based product line, including personal care and paper-based goods. The Company provides consumers the opportunity to enjoy high-quality and performance eco-friendly goods from dedicated experts that have been producing bamboo products for over a decade, along with the cost-benefit of local raw material manufacturing, and the satisfaction of knowing that by using these products they are doing their part to reduce their carbon footprint and to continue the movement towards a more healthy and sustainable planet. The Company's website can be found at www.greeninnovationsltd.com.
DISCLAIMER
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.