The cannabis manufacturer has developed both an extensive line of medicinal cannabis products as well as delivery technologies. This unique product line of topical cannabis lotion (cream or lotion or topical cannabis products) delivers the pain relieving and healing power of cannabis right where its applied and is quickly absorbed through the epidermis, with nearly immediate results that last for hours without psychoactive side effects.
The above-mentioned MOU signed between Tauriga and the Cannabis Manufacturer (both parties) is valid for a period of 60 days from the date of execution (18 February 2014). Under terms of the agreement, both parties have agreed to work towards the completion of a definitive merger/acquisition agreement specifying the potential final deal terms.
Upon signing this MOU Tauriga has agreed to pay the cannabis manufacturer a non-refundable cash payment of $20,000 as well as 2,500,000 shares of TAUG common stock and in return the Cannabis Manufacturer has agreed not to actively pursue other potential acquirers during the 60 day duration in which this MOU is valid.
Tauriga’s CEO Seth M Shaw noted the company’s business model entails the constant evaluation of opportunities in the life sciences space with the goal of enhancing shareholder value and long term revenue potential.
"There is a huge emerging market in the application of marijuana and or cannabis for legitimate medicinal purposes. The above-mentioned Cannabis Manufacturer is a company truly capable of capitalizing on this vast market opportunity due to the vision and dedication of its founders over the past 5 years.
"It is at the forefront of its industry, as it already generates meaningful revenues, has a research and development team, has an extensive retail product line, already available on dispensary shelves in more than 100 California based locations.
"Tauriga’s management team will work diligently to progress to a definitive agreement for the acquisition of this exciting and dynamic company. However, the company also wishes to assure its shareholders that such ongoing negotiations will in no way affect its dedicated efforts to commercialize Pilus Energy’s microbial fuel technology platform," Shaw added.
Within the next few weeks, Tauriga expects to reveal the specifics pertaining to this cannabis manufacturer, including: the identity of this medicinal cannabis manufacturer, its proprietary formulations, as well as the already existing product lines and future pipeline.
Lastly the company will also publish the extensive list of California dispensaries (more than 100 presently) at which the cannabis manufacturer’s topical medicinal products are currently available.