TAAT™ and H.T. Hackney are presently coordinating in-store activation strategies with an objective of converting smokers aged 21+ from purchasing tobacco cigarettes to purchasing TAAT™ Original, Smooth, or Menthol instead at Par Mar Stores. As of this writing, TAAT™ is to be on the shelves of Par Mar Stores in Ohio, West Virginia, and Pennsylvania by approximately Wednesday, December 15, 2021. Furthermore, the Company believes TAAT™ could perform especially well in Par Mar Stores located in the state of West Virginia, as this market has the highest cigarette use rate among adults in all of the United States at 23.8%4 (approximately 70% higher than the national average of 14%5).
For more information about H.T. Hackney, please visit the following web page: https://www.hthackney.com/
For more information about Par Mar Stores, please visit the following web page: https://www.parmarstores.com/
After becoming an official supplier of U.S. wholesale giant H.T. Hackney, the Company received a purchase order for more than 1,000 TAAT™ cartons for a chain-wide placement in Par Mar Stores, which has locations in Ohio, West Virginia, and Pennsylvania. With its presence predominantly located in West Virginia and the abutting southeastern Ohio region, the placement of TAAT™ in Par Mar Stores can complement the existing footprint of TAAT™ in hundreds of Ohio stores in the state’s central and western areas.
Readers using news aggregation services may be unable to view the media above. Please access SEDAR or the Investor Relations section of the Company’s website for a version of this press release containing all published media.
Setti Coscarella, Chief Executive Officer of TAAT™ commented, “We have been in discussions with H.T. Hackney for some time now, and we are most pleased to have signed a distribution contract with them after demonstrating the consistent product quality of TAAT™, impressive results from laboratory tests, and our ability to reliably fill large orders on a regular basis. From the beginning of our dialogue with H.T. Hackney, I knew that their team has world-class expertise in the tobacco category, which has been instrumental to their success in distributing established tobacco cigarette brands in nearly two dozen states. We are very happy about the first placement of TAAT™ in Par Mar Stores and the associated order of more than 1,000 cartons as an initial delivery. Through Par Mar Stores, TAAT™ will be introduced to the state of West Virginia for the first time, which we see as a key strategic market for TAAT™ as a nicotine-free and tobacco-free alternative to tobacco cigarettes. We look forward to seeing the initial performance of TAAT™ in Par Mar Stores beginning in December, as we work with H.T. Hackney to seek additional chain placement opportunities in its 20,000-store network.”
Sources
1 – https://www.forbes.com/companies/ht-hackney/?sh=58d4e4d05169
2 – https://www.hthackney.com/who-we-are
3 – https://www.parmarstores.com/
4 – https://www.cdc.gov/statesystem/cigaretteuseadult.html
5 – https://www.cdc.gov/tobacco/data_statistics/fact_sheets/adult_data/cig_smoking/index.htm
On behalf of the Board of Directors of the Company,
TAAT™ GLOBAL ALTERNATIVES INC.
“Setti Coscarella”
Setti Coscarella, CEO and Director
For further information, please contact:
TAAT™ Investor Relations
1-833-TAAT-USA (1-833-822-8872)
THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.
About TAAT™ Global Alternatives Inc.
The Company has developed TAAT™, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in “Original”, “Smooth”, and “Menthol” varieties. TAAT™’s base material is Beyond Tobacco™, a proprietary blend which undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with “Big Tobacco” pedigree, TAAT™ was launched first in the United States in Q4 2020 as the Company seeks to position itself in the $814 billion1 global tobacco industry.
For more information, please visit https://taatglobal.com.
References
1 British American Tobacco – The Global Market
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur, or be achieved. Forward-looking information in this news release includes statements regarding the anticipated performance of TAAT™ in the tobacco industry, in addition to the following: Placement of TAAT™ in Par Mar Stores (in Ohio, West Virginia, and Pennsylvania) by December 15, 2021, performance of TAAT™ at retail among smokers aged 21+. The forward-looking information reflects management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed timeframes or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes to the growth and size of the tobacco markets; and (iii) other factors beyond the control of the Company. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The statements in this news release have not been evaluated by Health Canada or the U.S. Food and Drug Administration. As each individual is different, the benefits, if any, of taking the Company’s products will vary from person to person. No claims or guarantees can be made as to the effects of the Company’s products on an individual’s health and well-being. The Company’s products are not intended to diagnose, treat, cure, or prevent any disease.
This news release may contain trademarked names of third-party entities (or their respective offerings with trademarked names) typically in reference to (i) relationships had by the Company with such third-party entities as referred to in this release and/or (ii) client/vendor/service provider parties whose relationship with the Company is/are referred to in this release. All rights to such trademarks are reserved by their respective owners or licensees.
Statement Regarding Third-Party Investor Relations Firms
Disclosures relating to investor relations firms retained by TAAT™ Global Alternatives Inc. can be found under the Company’s profile on http://sedar.com.
]]>As California is the second-largest mainland U.S. state by size and has the highest population of all U.S. states with over 39.5 million residents, the Company has determined that it must establish a robust network of distribution partners who have reach and influence in each of California’s several distinctive regions in order to build a significant market share for TAAT™ across the state. The average retail price for a pack of tobacco cigarettes in California is approximately USD $8.90, approximately 23% higher than the national average of USD $7.221. In addition to a statewide ban on flavoured tobacco products such as menthol cigarettes currently in the works2, a total of 71 localities in California have already prohibited the sale of all flavoured tobacco products3 including Los Angeles County; the largest county in the United States with over ten million residents4. Furthermore, several other California localities impose unique restrictions on tobacco product sales, such as Sonoma County which mandates a minimum sale price of USD $7.00 for a pack of cigarettes, and the city of San Francisco which caps the number of tobacco sales permits in each of the city’s 11 districts3.
The Company continues to make progress with its launch initiatives elsewhere in the United States, as well as internationally in markets such as Australia, the United Kingdom, Ireland, and Austria.
In Q4 2021, California-based wholesalers in Los Angeles, San Diego, and San Francisco have placed pallet orders of TAAT™, which they will begin distributing in their respective markets as the Company seeks to expand its existing presence across the state
Readers using news aggregation services may be unable to view the media above. Please access SEDAR or the Investor Relations section of the Company’s website for a version of this press release containing all published media.
TAAT™ Chief Executive Officer Setti Coscarella commented, “Launching TAAT™ in California is a significant milestone for us, as it is a unique market both in magnitude and in terms of the environment for tobacco category products such as ours. The sheer size of California’s population cannot be underestimated; more than 10% of the entire U.S. resides in California, and if it became part of the European Union it would be the fifth-largest member state with a population approximately equal to that of the Netherlands, Belgium, and Greece combined. Additionally, individual localities within California have taken some of the most aggressive approaches to regulating tobacco and nicotine products out of anywhere in the United States. For instance, in addition to its cap on tobacco sales licenses, in 2019 the city of San Francisco put an ordinance into effect banning the sale of e-cigarettes across the city; the first ban of its kind in the country5. This creates several opportunities for TAAT™ to gain market share among smokers aged 21+ throughout California, where we anticipate impressive initial results this quarter following the delivery of TAAT™ pallets fulfilling purchase orders made by distributors who service several of the state’s key markets.”
Sources
1 – https://www.tobaccofreekids.org/assets/factsheets/0202.pdf
3 – https://truthinitiative.org/research-resources/smoking-region/tobacco-use-california-2020
4 – https://www.census.gov/quickfacts/fact/table/losangelescountycalifornia,CA/PST045219
5 – https://www.cnn.com/2019/07/01/health/san-francisco-mayor-ecigarette-ban-bn/index.html
On behalf of the Board of Directors of the Company,
TAAT™ GLOBAL ALTERNATIVES INC.
“Setti Coscarella”
Setti Coscarella, CEO and Director
For further information, please contact:
TAAT™ Investor Relations
1-833-TAAT-USA (1-833-822-8872)
THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.
About TAAT™ Global Alternatives Inc.
The Company has developed TAAT™, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in “Original”, “Smooth”, and “Menthol” varieties. TAAT™’s base material is Beyond Tobacco™, a proprietary blend which undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with “Big Tobacco” pedigree, TAAT™ was launched first in the United States in Q4 2020 as the Company seeks to position itself in the $814 billion1 global tobacco industry.
For more information, please visit https://taatglobal.com.
References
1 British American Tobacco – The Global Market
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur, or be achieved. Forward-looking information in this news release includes statements regarding the anticipated performance of TAAT™ in the tobacco industry, in addition to the following: Outcomes from TAAT™ purchase orders made by California-based distributors. The forward-looking information reflects management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed timeframes or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes to the growth and size of the tobacco markets; and (iii) other factors beyond the control of the Company. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The statements in this news release have not been evaluated by Health Canada or the U.S. Food and Drug Administration. As each individual is different, the benefits, if any, of taking the Company’s products will vary from person to person. No claims or guarantees can be made as to the effects of the Company’s products on an individual’s health and well-being. The Company’s products are not intended to diagnose, treat, cure, or prevent any disease.
This news release may contain trademarked names of third-party entities (or their respective offerings with trademarked names) typically in reference to (i) relationships had by the Company with such third-party entities as referred to in this release and/or (ii) client/vendor/service provider parties whose relationship with the Company is/are referred to in this release. All rights to such trademarks are reserved by their respective owners or licensees.
Statement Regarding Third-Party Investor Relations Firms
Disclosures relating to investor relations firms retained by TAAT™ Global Alternatives Inc. can be found under the Company’s profile on http://sedar.com.
Readers using news aggregation services may be unable to view the media above. Please access SEDAR or the Investor Relations section of the Company’s website for a version of this press release containing all published media.
Compared to other global markets, the Company believes TAAT™ products can perform especially well in Austria based on several unique modern-era developments (listed below) which have influenced the tobacco market across the country. Austria has a total population of approximately 8.9 million, with a smoking incidence rate of approximately 25% in 2019, compared to an average of 18% in other European Union nations1.
Relatively New Privatization in Austria’s Tobacco Industry
The tobacco industry in Austria has only been privatized for approximately 24 years, following a public offering of Austria’s state-owned cigarette manufacturer (who had leading, non-monopoly market share) resulting in Japan Tobacco International (“JTI”) and Gallaher Group (ultimately acquired by JTI in 2007 for USD $15 billion2) taking over the state’s cigarette-manufacturing operations as of 19973. Accordingly, it can be concluded that smokers of legal age in Austria have not had the same opportunities to form preferences for a given tobacco cigarette brand compared to other countries. TAAT™ therefore intends to capitalize on any such weaknesses in brand loyalty as part of its initiatives to convert smokers of legal age in Austria to TAAT™ as an alternative to regular cigarettes with no nicotine or tobacco.
Rapid Decline in Austria’s Smoking Incidence Rate
In 2008 a staggering 43% of Austrian adults smoked cigarettes5, dropping dramatically to an incidence rate of approximately 25% in 20191. The Company anticipates it can capitalize on this momentum and convert Austrian smokers of legal age to TAAT™ products as a better alternative to tobacco cigarettes, particularly with the advent of measures intended to discourage nicotine consumption such as a recent smoking ban in public indoor spaces such as restaurants and bars.
Discontinuation of Menthol Cigarettes in Austria as of 2020
On May 20, 2020, a ban across the European Union was put into effect against menthol cigarettes6, a tobacco market segment that was valued at USD $11 billion across the continent that same year7. As menthol tobacco cigarettes can no longer be purchased anywhere in the European Union including Austria, TAAT™ Menthol is expected to offer smokers of legal age who once preferred menthol cigarettes a desirable alternative, which has already proven especially popular in the United States since launching in December 2020.
The Company has preemptively filed for Austrian trademarks on the terms TAAT™ and Beyond Tobacco™, which can provide crucial protection of the Company’s brand and intellectual property as sales of TAAT™ are set to begin in Austria next quarter. Through its distribution partners, the Company has arranged for TAAT™ to be sold to smokers of legal age at retail points of sale in several of Austria’s nine states (e.g., convenience stores, smoke shops), as well as online through a “geo-fenced” e-commerce portal.
TAAT™ Chief Executive Officer Setti Coscarella commented, “The global tobacco market has undergone significant changes in recent years, and with many shifts occurring rapidly in Austria where smoking rates remain relatively high (i.e., three-quarters more than the U.S. national average), I believe it is a very promising market for our next launch of TAAT™. Thirteen years ago nearly half of all Austrian adults were smokers, a number that has declined considerably due in part to factors such as the recent indoor smoking prohibition, which in combination with other events to include the EU-wide menthol ban has created attractive opportunities for better alternatives such as TAAT™ to gain market share. It would appear that incumbent players in the tobacco industry have taken note of these market circumstances; as an example, Philip Morris International only launched an IQOS boutique in Austria last spring, despite having already opened 226 outlets elsewhere in the world8. I am therefore very confident that this initial commercial order of TAAT™ will perform well in Austria, laying the groundwork for a large-scale launch as we continue to build out TAAT™’s global market footprint.”
Sources
1 – https://www.dw.com/en/austria-smoking-ban-in-effect-after-decade-long-debate/a-51080604
2 – https://www.nytimes.com/2007/04/18/business/worldbusiness/18iht-tobacco.1.5332040.html
3 – https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3225958/
4 – https://www.bbc.com/news/world-europe-55341779
5 – https://link.springer.com/article/10.1007/s00508-017-1254-3
6 – https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7549510/
8 – https://www.colliers.com/en-at/news/20201015-pa-philipmorris
On behalf of the Board of Directors of the Company,
TAAT™ GLOBAL ALTERNATIVES INC.
“Setti Coscarella”
Setti Coscarella, CEO and Director
For further information, please contact:
TAAT™ Investor Relations
1-833-TAAT-USA (1-833-822-8872)
THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.
About TAAT™ Global Alternatives Inc.
The Company has developed TAAT™, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in “Original”, “Smooth”, and “Menthol” varieties. TAAT™’s base material is Beyond Tobacco™, a proprietary blend which undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with “Big Tobacco” pedigree, TAAT™ was launched first in the United States in Q4 2020 as the Company seeks to position itself in the $814 billion1 global tobacco industry.
For more information, please visit https://taatglobal.com.
References
1 British American Tobacco – The Global Market
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur, or be achieved. Forward-looking information in this news release includes statements regarding the anticipated performance of TAAT™ in the tobacco industry, in addition to the following: Planned Q1 2022 launch of TAAT™ in Austria following the purchase order detailed in the press release. The forward-looking information reflects management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed timeframes or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes to the growth and size of the tobacco markets; and (iii) other factors beyond the control of the Company. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The statements in this news release have not been evaluated by Health Canada or the U.S. Food and Drug Administration. As each individual is different, the benefits, if any, of taking the Company’s products will vary from person to person. No claims or guarantees can be made as to the effects of the Company’s products on an individual’s health and well-being. The Company’s products are not intended to diagnose, treat, cure, or prevent any disease.
This news release may contain trademarked names of third-party entities (or their respective offerings with trademarked names) typically in reference to (i) relationships had by the Company with such third-party entities as referred to in this release and/or (ii) client/vendor/service provider parties whose relationship with the Company is/are referred to in this release. All rights to such trademarks are reserved by their respective owners or licensees.
Statement Regarding Third-Party Investor Relations Firms
Disclosures relating to investor relations firms retained by TAAT™ Global Alternatives Inc. can be found under the Company’s profile on http://sedar.com.
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