Tauriga Sciences signs manufacturing agreement for CBD chewing gum

US-based Tauriga Sciences has signed a manufacturing agreement with a Maryland-based gum manufacturer for the production of its Cannabis/CBD chewing gum product line (CBD Gum).

The manufacturer will produce Tauriga’s CBD Gum as per the specifications in an agreement that stood since 28 December 2018.

Tauriga has already paid a majority portion of the cost associated with the initial production run of 8,700 units. Each unit contains eight pieces of CBD gum.

The CBD gum will contain 10 mg of CBD Isolate and the initial production run will feature mint flavour.

A third party will test every batch on aspects such as CBD label content, THC content (0%) and microbiology.

Packaging intended for the retail market will consist of eight gum tablet count and a blister card labelled with the lot number and expiration date.

The outer sleeve of the product will feature Tauriga’s artwork, graphic designs and label copy.

Tauriga is required to provide the manufacturer with the graphic design artwork, logo, label design and implement Kosher certification process.

Tauriga Sciences CEO Seth Shaw said: “Tauriga Sciences Inc has evaluated a number of potential opportunities during the calendar year 2018.  The company believes that it has identified a potentially lucrative niche market to address, for its shareholders, and is moving forward with great enthusiasm to develop and market its CBD Gum product line.”

The firm expects to generate revenue from its CBD Gum during the latter part of the current operating quarter, which runs from 1 January to 31 March.

 

 

 

 

 

PR:

https://globenewswire.com/news-release/2019/01/02/1679526/0/en/Tauriga-Sciences-Inc-Enters-into-Manufacturing-Agreement-for-the-Production-of-its-Cannabis-CBD-Infused-Chewing-Gum-Product.html

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Tauriga Sciences, Inc. Enters into Manufacturing Agreement for the Production of its Cannabis/CBD Infused Chewing Gum Product

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 comprehensive manufacturing agreement (the “Agreement”) with a Maryland based Gum Manufacturer for the production of its Cannabis/CBD chewing gum product line (“CBD Gum”). The Agreement is effective as of December 28, 2018 and the Company has already paid a substantial portion of the costs pertaining to the initial production run; 8,700 units (each unit contains 8 pieces of CBD Gum).

Under terms of the Agreement, the Manufacturer has committed to produce Tauriga’s CBD Gum based on the following specifications:

•  By composition, the CBD Gum will contain 10 mg of CBD Isolate
• The initial production run will be MINT Flavor exclusively
• This proprietary CBD Gum will be manufactured under the coverage of a specific U.S. Patent
• Each Production Batch, including the initial production run, is estimated to yield 70,000 gum tablets or 8,700 Units (each Unit contains 8 gum tablets).
• Integrated Quality Control Procedures:  Each production batch will be tested by a 3^rd Party for CBD label content, THC content (0%), and clear for microbiology.
• The packaging, for retail marketplace, will consist of 8 count (gum tablet count) blister card labeled (the “Pack(s)”) with Lot # as well as Expiration Date.
• Outer sleeve in Tauriga’s artwork and graphic design(s) and label copy
• Shipping System:  Bulk packed 266 Packs per master case (“Pallatized”)

Under terms of the Agreement, Tauriga Sciences, Inc. has committed to provide the following to the Manufacturer:

• Each product order will consist of exactly 8,700 Packs (unless otherwise agreed upon by both parties).
• ½ of initial production invoice due within 3 days of execution of Manufacturing Agreement (this has already been paid by the Company).
• Provide graphic design artwork, Logo, and label design to Manufacturer.
• Trademark has been successfully filed with U.S.P.T.O.
• To implement Kosher Certification Process
• Procure appropriate Product & Liability (“P & L”) insurance policy
• Acquire Legal Opinion with respect to the confirmation of the legality to sell this CBD Gum – on the Federal Statute Level.

The Company has been meeting with a number of potential distributors over the past 2 months and is pleased with the feedback provided.  Additionally, the Company has built its CBD Gum product line, specifically implementing the advice that several of these prospective distributors have offered to management.  The Company is hopeful to generate revenue from its CBD Gum, during the latter part of this current operating Quarter (period: January 1, 2019 – March 31, 2019); Tauriga’s 4^th Fiscal Quarter of 2019.

Tauriga’s CEO, Mr. Seth M. Shaw, commented, “Tauriga Sciences, Inc. has evaluated a number of potential opportunities during calendar year 2018.  The Company believes that it has identified a potentially lucrative niche market to address, for its shareholders, and is moving forward with great enthusiasm to develop and market its CBD Gum product line.  The Company is pleased to be working with an outstanding manufacturer, with significant industry experience, in launching this product.  In order to hit the ground running, the Company has already been meeting with potential top tier distribution firms as well as providing product samples to dozens of potential retailers and end users.”

 

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.