Category Archives: Market News

Tauriga Sciences, Inc. (TAUG: OTCQB) | Tauriga Sciences Inc. Appoints Michael J. Brennan, M.D., Ph.D. to Its Board of Directors

LOS ANGELES, Oct. 30, 2014 (GLOBE NEWSWIRE) — Tauriga Sciences, Inc. (OTCQB:TAUG) or (“Tauriga” or “the Company”), a diversified life sciences company with interests in the natural wellness sector and in developing a proprietary synthetic biology platform technology, announced the appointment of Michael J. Brennan, M.D., Ph.D. to its Board of Directors. Dr. Michael Brennan was previously President and Chief Executive Officer of Gene Logic, a NASDAQ-listed company. During Dr. Brennan’s time at Gene Logic, he built the company from a start-up to a public company that achieved a market capitalization of over $5 billion. Dr. Brennan has previous experience in the biopharmaceutical industry, where he has served as Vice President, Business Development for Boehringer Mannheim Therapeutics. Dr. Brennan brings operating experience, technical and industry knowledge, and a thorough understanding of the NASDAQ market to the Tauriga Board of Directors.

Tauriga’s Chairman and CEO Dr. Stella M. Sung stated, “Dr. Michael Brennan is an important addition to our Board of Directors at this time, as we begin to generate revenues from our natural wellness business and grow our company to its next stage of evolution. Dr. Brennan built a raw startup into a leading genomics company during the genomics revolution. His skills and firsthand experience in building companies to seize new market opportunities are directly transferrable to the emerging medical marijuana and natural wellness sector as well as to the ‘wastewater to value’ industry.”

Dr. Michael Brennan commented, “It is an honor to work with an emerging life sciences company such as Tauriga Sciences. As a trained neurologist, I believe in the scientific and clinical rationale for Tauriga’s natural wellness line, which includes topical cannabis creams as well as natural, amino acid-based dietary supplements. I am excited about establishing and growing the customer base for Tauriga’s consumer product line. I am also enthusiastic about commercializing Tauriga’s synthetic biology platform for remediating wastewater and generating energy in the process. Tauriga has great prospects, and it will be truly rewarding to help Dr. Sung and her highly talented management team take the company to the next stage by focusing on strong fundamentals and on rapid revenue growth.”

Dr. Brennan will have an immediate impact on the Tauriga’s natural wellness business, which has recently launched and has begun to generate revenues. Tauriga’s “Cannabis Complements” is a line of non-cannabis containing dietary supplements. These dietary supplements target cannabis-related effects, such as anxiety, memory and cognitive function, and appetite control. These supplements do not contain cannabis and can be sold nationwide to further build the Tauriga brand, especially in the 23 states where medicinal marijuana is legal. Among the current products are: “Satietiva,” a natural appetite suppressant; “IndiCalm,” a natural relaxant and anxioytic; and “ClearNaze,” a natural, non-stimulant, non-drowsy decongestant.

In addition to his leadership position at GeneLogic, Dr. Brennan has served as a General Partner or Managing Director of several life science venture funds. Dr. Brennan received a B.S. in Biochemistry, a Ph.D. in neurobiology and a M.D. from the University of Witwatersrand, Johannesburg, South Africa. He has seventy six publications in medical and scientific journals and textbooks.

About Tauriga Sciences, Inc.:

Tauriga Sciences, Inc. (TAUG) is a diversified life sciences company focused on generating profitable revenues in the natural wellness sector and in developing a proprietary synthetic biology platform technology. The mission of the Company is to acquire and build a diversified portfolio of cutting edge technology assets that is capital efficient and of significant value to the shareholders. The Company’s business model includes the acquisition of licenses, equity stakes, rights on both an exclusive and non-exclusive basis, and entire businesses. Management is firmly committed to building lasting shareholder value in the short, intermediate, and long terms.  Please visit the Company’s corporate website at www.tauriga.com.

NON SOLICITATION:

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.

DISCLAIMER:

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, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on TAUG’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 TAUG has little or no control. Such forward-looking statements are made only as of the date of this release, and TAUG 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 TAUG 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.

CONTACT: Tauriga Sciences, Inc.:
         Dr. Stella M. Sung,
         Chairman and Chief Executive Officer
         Tauriga Sciences, Inc.
         www.tauriga.com
         San Diego: + 1-858-353-5749
         Montreal: + 1-514-840-3697
         Email: ssung@tauriga.com


Tauriga logo

Article source: http://www.otcmarkets.com/stock/TAUG/news?id=90476

Empire Energy Group Limited (EEGNY: OTCQX International) | Quarterly Activities Summary September 2014

Quarterly Activities Summary September 2014

Oct 30, 2014

OTC Disclosure News Service

Sydney, NSW, Australia

This release includes additional documents. Select the link(s) below to view.

14 10 30 EEG Quarterly Activities Report Sep 14.pdf

Copyright © 2014 OTC Markets. All Rights Reserved

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/EEGNY/news?id=90456

Canacol Energy Ltd. (CNNEF: OTCQX International Premier) | Canacol Energy Ltd. Announces Strategic Financing With Apollo Investment Corporation

CALGARY, ALBERTA–(Marketwired – Oct 29, 2014) – Canacol Energy Ltd. (“Canacol” or the “Corporation”) (TSX:CNE)(OTCQX:CNNEF)(BVC:CNEC) is pleased to announce that it has established a financing relationship with Apollo Investment Corporation (NASDAQ:AINV) (or “Apollo Investment”) to finance its investment in oil and gas properties in Colombia and Latin America.

As a result, the Corporation has entered into a US$ 100 million unsecured floating rate senior note indenture agreement (the “Senior Notes”), with US$ 50 million drawn and funded today, and a further US$ 50 million committed and available to be drawn at any time within 18 months at the sole discretion of Canacol, subject only to customary closing conditions.

Charle Gamba, President and CEO of Canacol commented: “Combined with our fiscal year-end current cash position of US$ 170 million, Canacol is well positioned to pursue and execute opportunities in Colombia and elsewhere in Latin America. We are excited to partner with Apollo Investment given its strong track record and look forward to pursuing additional opportunities with their support. Given our recent exploration successes for both light oil and gas, these funds also provide Canacol with a flexible option to pursue accelerated growth within our diverse portfolio.”

Ted Goldthorpe, President of Apollo Investment, commented, “We look forward to supporting Canacol and its outstanding team that combines Latin American knowledge and relationships with strong technical expertise and practices. We believe this investment will further our strategy of financing talented, experienced teams who can derive value from physical assets.”

Terms and Strategic Rationale

The Senior Notes are repayable in full on their maturity date of December 31, 2019 and carry interest at LIBOR plus 8.5% per annum (subject to a LIBOR floor of 1.0%), payable quarterly. For the immediate term the blended interest cost of the existing senior secured term loan combined with the Apollo Senior Notes is expected to average approximately 6% per annum from now through the end of fiscal 2015, which is consistent with or below interest rates for alternate debt instruments for the level of debt outstanding. Additionally, the Corporation’s current debt structure carries the advantages of strong bi-lateral relationships with supportive financial partners, including both the senior secured term loan syndicate banks and Apollo Investment, as well as lower structuring and other costs. The Senior Notes may be repaid at any time prior to maturity and are subject to customary financial, performance and legal covenants. Standby fees on the undrawn portion of the Senior Notes are calculated at 1% per annum.

There are several reasons for entering into the relationship with Apollo Investment. First, Canacol’s ongoing strategy includes the development of recent gas and light oil discoveries, along with various business development initiatives that require flexible funding structures, including potential new joint ventures. With the support of Apollo Investment, Canacol is better positioned to pursue and execute on such projects through flexible customized structures that benefit the Corporation and its shareholders.

Second, the Corporation’s current senior secured term loan began amortizing by approximately US$ 14.7 million quarterly in October 2014 and is currently scheduled to do so through its maturity in 2018. With the proceeds from the Apollo Investment Senior Notes, Canacol has obtained additional funds for current development expenditures, ensuring that the Corporation maintains a strong and liquid balance sheet. The lenders in Canacol’s senior secured term loan have approved the Apollo Investment Senior Notes and are supportive of the Corporation’s growth program. The Corporation expects to maintain this positive dialogue with its senior lending syndicate regarding its future growth needs, including additional funding. In the meantime, the Apollo Investment Senior Notes provide additional liquidity through 2015, while the Senior Notes themselves may also be amended from time to time, or repaid with minimal restrictions. The Corporation continues to maintain a strong and liquid balance sheet and remains in compliance with the terms of its debt facilities.

The Corporation plans on releasing its calendar 2015 capital program in December 2014.

About Canacol Energy Ltd.

Canacol is an exploration and production company with operations focused in Colombia and Ecuador. The Corporation’s common stock trades on the Toronto Stock Exchange, the OTCQX in the United States of America, and the Colombia Stock Exchange under ticker symbols CNE, CNNEF, and CNEC, respectively.

About Apollo Investment Corporation

Apollo Investment Corporation (NASDAQ:AINV) is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. Apollo Investment invests primarily in various forms of debt investments, including secured and unsecured loan investments, and/or equity in private middle-market companies. Apollo Investment may also invest in the securities of public companies and structured products and other investments such as collateralized loan obligations. Apollo Investment Corporation is managed by Apollo Investment Management, L.P., an affiliate of Apollo Global Management, LLC, a leading global alternative investment manager. For more information, please visit www.apolloic.com.

This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur, including without limitation statements relating to estimated production rates from the Corporation’s properties and intended work programs and associated timelines. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation cannot assure that actual results will be consistent with these forward looking statements. They are made as of the date hereof and are subject to change and the Corporation assumes no obligation to revise or update them to reflect new circumstances, except as required by law. Information and guidance provided herein supersedes and replaces any forward looking information provided in prior disclosures. Prospective investors should not place undue reliance on forward looking statements. These factors include the inherent risks involved in the exploration for and development of crude oil and natural gas properties, the uncertainties involved in interpreting drilling results and other geological and geophysical data, fluctuating energy prices, the possibility of cost overruns or unanticipated costs or delays and other uncertainties associated with the oil and gas industry. Other risk factors could include risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities, and other factors, many of which are beyond the control of the Corporation.

Article source: http://www.otcmarkets.com/stock/CNNEF/news?id=90450

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