NEW YORK, NY--(Marketwired - Dec 29, 2016) - Tauriga Sciences, Inc. (OTC PINK: TAUG) ("Tauriga" or "the Company"), a company engaged in building businesses in the life sciences space, has today announced the execution of a non-exclusive License Agreement (the "License Agreement") with Cleveland, Ohio based cosmetics products firm Ice + Jam LLC ("Ice + Jam") (website: www.iceandjam.com). Under terms of the License Agreement, Tauriga will market Ice + Jam's proprietary Cupuacu Butter lip balm, sold under the Trademark HERMAN and the two companies will evenly share ("50% / 50%") any and all revenue and profits generated by Tauriga's marketing, sales, and distribution efforts. Tauriga has already paid for the first production run of HERMAN and is hopeful of generating revenues during the 1st Calendar Half of 2017 and beyond. The effective duration of the License Agreement is 12 months with an option to extend for an additional 12 months based on mutual agreement. The two companies reserve the right to request amendment of the License Agreement at any point during the effective duration.
Cupuacu Butter is derived from the fruit of the Cupuacu Tree; a tropical rainforest tree related to Cacao (the base of chocolate production). Common throughout the Amazon basin (South America), it is widely cultivated in the jungles of Colombia, Bolivia and Peru and in the north of Brazil, with the largest production in Pará, followed by Amazonas, Rondônia and Acre. Cupuacu Butter is a good, plant, alternative to lanolin, offering the capacity to attract 240% more water allowing it to function much more effectively as a skin hydrator and moisturizer. In addition though it's not recognized as an SPF (Sun Protection Factor), Cupuacu Butter is well known for its ability to absorb damaging UVA / UVB rays ("Ultra Violet Rays") for natural sun protection.
Ice + Jam's HERMAN product, now distributed by Tauriga, brings to the consumer marketplace "Unscented & uncolored, raw, hand scooped Cupuacu Butter from the Amazon to your lips. Hydration and healing for everyday all day!"
Website Link: (http://www.iceandjam.com/shop/herman-cupuacu-butter-balm)
Commenting on the License Agreement, Tauriga's CEO Seth M. Shaw expressed, "The Company is pleased to have the opportunity to market this attractive and innovative product for the natural wellness space. This product is packaged similarly to successful existing lip balm products and brands and the Company has already identified several potentially interested retailers and distributors. The Company will continue to leverage its extensive relationships in both the natural wellness and distribution spaces with the corporate goal of building a base of long term revenue, growth, and product diversification."
ABOUT TAURIGA SCIENCES, INC.
Tauriga Sciences, Inc. (OTC PINK: TAUG) is a fully reporting life sciences company engaged in the development, marketing, distribution and potential licensing of a broad array of products and technologies within the that may help individuals who are affected by muscle tension. The Company is also continually evaluating products and technologies in the Natural Wellness space, separate from its core focus on muscle tension. The Company has already identified potential products and technologies of interest and is actively working towards the goal of creating an innovative product line to launch the business activities of ColluMauxil Therapeutics LLC (The Company's previously announced new planned wholly owned subsidiary). The Company believes that one of its most important strengths is its access to and relationships with potentially substantial distribution systems and networks. The Company intends to capitalize on distribution opportunities and will continually update shareholders on such developments. The Company is also prosecuting (as Plaintiff) its ongoing malpractice lawsuit against its predecessor audit firm, for which it's seeking monetary damages in excess of $4,000,000 USD.
ABOUT ICE + JAM LLC
Ice + Jam LLC is a fast growing cosmetics products firm headquartered in Cleveland, Ohio. Ice + Jam LLC fuses bold color & luxe ingredients with a dash of wit to create rule-breaking beauty products with one goal in mind: empower your lips. Founded in June 2013 by Ivy Evans & Jamie A. Murphy, Ice + Jam harnesses their industry experience, passion and creativity into a beauty brand that's all about being crazy, clever and confident. It's time to put your best lip forward with Ice + Jam's unreal lip-plumper and bold, long-lasting colors.
The company's website: (www.iceandjam.com)
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. Any securities offered or issued in connection with the above-referenced merger and/or investment have not been registered, and will be offered pursuant to an exemption from registration.
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, expects, anticipates, believes, hopes, beliefs, plans and objectives regarding the development, use and marketability of products as well as the attainment of certain corporate goals and milestones (i.e. SEC Periodic Filings, Filing of Proxies, etc.). Such forward-looking statements are based on present circumstances and on Tauriga'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 Tauriga has little or no control. 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. 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 Tauriga 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.