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Tauriga Sciences acquires stake in Aytu BioScience through $12M placement

Tauriga Sciences Inc. acquired a minority stake in Colorado-based Aytu BioScience Inc. through a $12 million private placement with warrant coverage.

New York-based Tauriga invested $70,739.95 of its balance sheet cash and is now in possession of all corresponding registered shares and warrants.

For its investment, Tauriga received 161,111 common shares priced at 43.9 cents, as well as 111,111 five-year warrants exercisable at a strike price of 54 cents.

Tauriga, which has a market value of about $3 million, develops, distributes and licenses products and seeks potential acquisition and investment opportunities. Aytu focuses on developing and commercializing novel products in the field of urology in the U.S.