On March 10, 2014, Tauriga Sciences, Inc., a Florida corporation (the “Company”), entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Hanover Holdings I, LLC, a New York limited liability company (the “Investor”), as described in the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on March 14, 2014 (the “March 14 8-K”). In connection with the Purchase Agreement, the Investor agreed to place $250,000 in escrow to be released upon the closing of the Merger (as defined in the March 14 8-K).
On June 27, 2014, the Investor agreed to amend the provisions of the escrow such that the $250,000 was immediately released to the Company.