Los Angeles, CA, Oct. 04, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Tauriga Sciences, Inc. TAUG ("Tauriga" or the "Company"), engaged in building its business through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities and equity investments, today announced that the Company has entered into a Memorandum of Understanding ("MOU") to acquire a California based revenue generating OMEGA-3 product and technology. This MOU, executed on October 3, 2018 (between Tauriga Sciences, Inc. and Malibu Health Technologies), is valid for a period of 45 days and closing is subject to satisfactory completion of due diligence by all parties.
Description of Product and Technology:
This OMEGA-3 Product ("the Product") is a pure potent and better tolerated fish oil. It is prepared and formulated through molecular distillation of the best fish sources (Sardines, Anchovies, and Herring caught near the waters surrounding Antarctica). The proprietary technology to refine for purity and concentrate for high levels of docosahexaenoic acid ("DHA") and eicosapentaenoic acid ("EPA") has been developed in Norway. The Product is distilled in a plant located on the coast of Chile, thereby avoiding the transportation of "fish oil" back to Scandinavia. The concentration of the health promoting long chain fatty acids vary, but are always greater than 400mg of EPA and 300mg of DHA. These levels are similar to those of the prescription Lovaza - manufactured by GlaxoSmithKline.
Should this proposed transaction successfully be completed, Tauriga expects to proceed in the filing of intellectual property ("IP" or "patents") pertaining to the above-mentioned molecular distillation technology. The Company believes that such patent(s) may be relevant to the pharmaceutical industry and therefore could be of significant importance.
General Background Info on OMEGA-3 fatty acids ("Fish Oil"):
Over past 10+ years, many Americans have turned to OMEGA-3 fish oil supplements, which have potential benefits for healthy people and also those with heart disease. OMEGA-3 fish oil contains both DHA and EPA. OMEGA-3 fatty acids are essential nutrients that are important in preventing and managing heart disease. Findings have shown that OMEGA-3 fatty acids may also help to: lower blood pressure, reduce triglycerides, slow the development of plaque in the arteries, and reduce the chance of abnormal heart rhythm. The American Heart Association ("AHA") recommends that everyone eats fish (containing OMEGA-3 fatty acids) at least twice a week.
Tauriga's CEO Mr. Seth M. Shaw expressed, "Over the past two months, the Company has been evaluating this opportunity as a potential acquisition candidate aimed at restoring and creating shareholder value. After careful consideration and due diligence, Tauriga has decided to move forward with the opportunity and progress to this MOU. In addition to the acquisition of a high-quality existing revenue generating OMEGA-3 product, there is the potential to establish Intellectual Property that may be relevant to the Pharmaceutical industry."
Lastly, Tauriga wishes to express to its shareholders that it has great confidence in its current balance sheet holdings. The Company believes that its balance sheet has the potential to help create shareholder value in a complimentary manner to potential merger & acquisition activity.
About Tauriga Sciences, Inc.
Tauriga Sciences, Inc. TAUG is engaged in building business through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities/equity investments. The Company is currently evaluating potential acquisition candidates, as previously disclosed, to create lasting shareholder value. Additionally, the Company is working diligently to identify potential opportunities to generate revenue and leverage its considerable resources and expertise to build a diversified and sustainable business model. On October 3, 2018, the Company entered into a 45 day MOU to acquire a product and technology centered around the science of OMEGA-3 fish oil. Please visit our corporate website at www.tauriga.com
Forward-Looking Statements
This press release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995 which represent management's beliefs and assumptions concerning future events. These forward-looking statements are often indicated by using words such as "may," "will," "expects," "anticipates," believes, "hopes," "believes," or plans, and may include statements regarding corporate objectives as well as the attainment of certain corporate goals and milestones. Forward-looking statements are based on present circumstances and on management's present beliefs with respect to events that have not occurred, that may not occur, or that may occur with different consequences or timing than those now assumed or anticipated. Actual results may differ materially from those expressed in forward looking statements due to known and unknown risks and uncertainties, such as are not guarantees of general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to consummate successful acquisition and licensing transactions, fluctuations in exchange rates, and other factors over which Tauriga has little or no control. Many of these risks and uncertainties are discussed in greater detail in the "Risk Factors" section of Tauriga's Form 10-K and other filings made from time to time with the Securities and Exchange Commission. 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. You should not place undue reliance on these forward-looking statements.
Contact:
CONTACT INFORMATION
Tauriga Sciences, Inc.
555 Madison Avenue, 5th Floor
New York, NY 10022
Chief Executive Officer
Mr. Seth M. Shaw
Email: sshaw@tauriga.com
cell # (917) 796 9926
www.tauriga.com
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