NEW YORK, NY--(Marketwired - Jan 27, 2017) - Tauriga Sciences, Inc. (OTC PINK: TAUG) ("Tauriga" or the "Company"), a company engaged in building businesses in the life sciences space, today announced that it has received approval from The Depository Trust & Clearing Corporation ("DTCC") and is now DTC electronic (DWAC/FAST/DRS) eligible. The Depository Trust Company ("DTC") is a subsidiary of the Depository Trust & Clearing Corporation, and manages the electronic clearing and settlement of publicly traded companies.
Securities that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible." This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors. DWAC Services ("DWAC") allow participants to instruct DTC regarding deposit and withdrawal transactions being made directly via a Fast Automated Securities Transfer Program ("FAST") transfer agent. The FAST system eliminates the movement of physical securities certificates for transfers of securities registered in the name of DTC's nominee, Cede & Co, on the transfer agent's books. DTC and its FAST transfer agents reconcile the results of participants' deposit and withdrawal activities electronically on a daily basis.
It takes approximately one week to get all Certificates ("Certs") into Fast position, which is when Tauriga will be officially coded as DWAC Eligible.
Tauriga's CEO Mr. Seth M. Shaw expressed, "The Company is very pleased to have secured this DWAC Services approval from DTCC. The Company believes that this DWAC eligibility will have a positive effect on its ability to secure capital from potential institutional investors. This application for DWAC approval was only made possible once the Company regained its status as a current SEC Filer (fully reporting public company) on December 6, 2016."
ABOUT TAURIGA SCIENCES, INC.
Tauriga Sciences, Inc. (OTC PINK: TAUG) is a current reporting, DWAC eligible, 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.
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.
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, expects, anticipates, believes, hopes, beliefs, plans and objectives regarding matters included in this press release, including but not limited to the marketing and production of its RolLeaf product(s) and the laws relating to CBD oil. 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.