LAS VEGAS and VANCOUVER, JUNE 29, 2022 - TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce several corporate developments reflected in its Fiscal Q2 2022 financial statements (for the three-month period ended April 30, 2022). The Company’s flagship product TAAT® is currently sold in over 2,700 U.S. stores, which include locations of major national and global chains in the convenience and gas categories. As a greater quantity of TAAT® in retail circulation is now manufactured with the Version III (“V3”) formulation of its patent-pending Beyond Tobacco™ base material, the Company and its wholesale/retail partners have generally observed improvements to the conversion rates of adult smokers who choose TAAT® instead of their preferred brand of tobacco cigarettes. An overview of highlights reflected in the Company’s Fiscal Q2 2022 financial statements is provided below. All monetary figures are in Canadian dollars unless specified otherwise.
TAAT® Fiscal Q2 2022 Highlights
Please refer to the Company’s filings on SEDAR (http://sedar.com) for all disclosures made in the Company’s Fiscal Q2 2022 financial statements.
The 18,000 square foot warehouse of ADCO is pictured above (Canton, Ohio), in which a staff of 28 conduct full-service distribution of TAAT® as well as legacy tobacco products and a full range of convenience category goods. As announced during the Company’s Fiscal Q2 2022, TAAT® entered into an agreement to acquire ADCO, which was ultimately completed in May 2022.
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® Founder Joe Deighan commented, “Our Fiscal Q2 2022 was a pivotal timeframe for the Company as we made two key transitions. The first was the acquisition of ADCO, which added integrated distribution to our business model in addition to a steady revenue stream of over CAD $87 million (based on 2021 financial results) to complement our existing sales pipeline of TAAT® throughout the United States. The second was rotating TAAT® inventory with our wholesale and retail partners to ensure TAAT® made with the V3 formulation of Beyond Tobacco™ is as available as possible across our nationwide footprint. It’s tricky to articulate just how significant V3 is compared to our previous formulations. Consumer feedback from adult smokers who have tried V3 reflects validation of our mission to create an experience that is truly better than their preferred tobacco cigarette brand. This has done wonders for our conversion rates at the point of sale, which is why we elected to take the plunge to voluntarily replace existing inventory with product made using V3. With the added distribution bandwidth resulting from our acquisition of ADCO, we are excited to be carrying on as an integrated player in the USD $812 billion global tobacco category, and are thankful to our loyal base of investors for their continued support.”
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Joe Deighan”
Joe Deighan, COO 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.
TAAT® develops, manufactures, and distributes alternative products in categories to include tobacco, hemp, kratom, and other emerging segments of the CPG industry. Its flagship product is a nicotine-free, tobacco-free cigarette with a patent-pending base material formulation, sold in over 2,700 U.S. stores. With over CAD $80 million in overall net revenue in 2021, TAAT®’s facilities include a manufacturing plant in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
For more information, please visit http://taatglobal.com.
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: Potential outcomes from the Company’s acquisition of ADCO and replacing prior shipments with inventory manufactured using V3 of Beyond Tobacco™, as well as continued performance of the Company as discussed 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; (iii) changes to the regulatory landscape applicable to the Company's business; and (iv) 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.
]]>LAS VEGAS and VANCOUVER, JUNE 22, 2022 - TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) announces that it is taking proactive steps to capitalize on a rule which the Food and Drug Administration (“FDA”) in the United States announced plans to propose, which would establish a maximum level of nicotine in cigarettes and other combustible tobacco products (announced by the FDA on June 21, 20221). In the FDA’s announcement, the agency described the role of nicotine as an attribute of tobacco products that contributes to the addictiveness of cigarettes and that it is the “main driver of sustained use of these products [cigarettes]2”. In Q4 2020, TAAT® launched its nicotine-free and tobacco-free alternative to tobacco cigarettes in Ohio, and rapidly scaled its market position based on the product’s novel value proposition as an option for adult smokers to forego nicotine while continuing to enjoy a substantially similar “ritual” of lighting up and smoking a combustible product. As of this writing, TAAT® is sold in over 2,700 U.S. retailers including independent shops and chain stores under national banners.
Further analysis of this announcement is covered in an article in yesterday’s edition of the Wall Street Journal: https://www.wsj.com/articles/biden-administration-targets-removal-of-most-nicotine-from-cigarettes-11655842130
An anticipated outcome from the proposed rule for which the FDA announced its plans is that tobacco cigarettes in the United States would contain lower levels of nicotine. Because this would undoubtedly require the product formulation to be altered for U.S. versions of legacy tobacco products (e.g., Marlboro, Newport, Camel), it is possible that adult smokers in the United States may pursue alternatives to their preferred brands if the new formulation does not match their established tastes as a result of lower nicotine levels. The Beyond Tobacco™ base material of TAAT® has been widely regarded by adult smokers as being better than actual tobacco with “standard” nicotine content. Based on this similarity despite containing no nicotine, the Company expects TAAT® could prove to be even more attractive to U.S. adult smokers in light of the FDA’s recently announced rule that it plans to propose, seeking to “cap” nicotine levels on tobacco cigarettes sold in the United States.
A U.S. patent is currently pending for the nicotine-free and tobacco-free Beyond Tobacco™ formulation, which is used to make TAAT® products.
In an announcement dated June 21, 2022, the U.S. Food and Drug Administration announced its plans for a proposed rule to establish a maximum level of nicotine in tobacco cigarettes sold in the United States. The Company anticipates that such a rule could prove advantageous for its flagship product TAAT®, which is a nicotine-free and tobacco-free alternative to tobacco cigarettes.
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® Founder Joe Deighan commented, “As a former smoker of tobacco cigarettes, I know that nicotine is the enemy. It is clear that the FDA is recognizing this, based on its plans to propose a rule to cap the amount of nicotine allowed in tobacco cigarettes sold in the United States. I expect this to cause a considerable shift in the tobacco category in the U.S., which we could capitalize on with our established offering of a nicotine-free alternative that feels substantially similar to a regular cigarette with standard levels of nicotine. We are continuing to commercialize TAAT® to build upon our existing footprint of 2,700 U.S. stores, and will be taking proactive steps to take advantage of a new rule such as this if it goes into effect.”
Sources
1 - https://www.nytimes.com/2022/06/21/health/fda-nicotine-cigarettes.html
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
"Joe Deighan”
Joe Deighan, COO 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.
TAAT® develops, manufactures, and distributes alternative products in categories to include tobacco, hemp, kratom, and other emerging segments of the CPG industry. Its flagship product is a nicotine-free, tobacco-free cigarette with a patent-pending base material formulation, sold in over 2,700 U.S. stores. With over CAD $80 million in overall net revenue in 2021, TAAT®’s facilities include a manufacturing plant in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
For more information, please visit http://taatglobal.com.
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: Potential establishment of a regulation on maximum nicotine levels in cigarettes in the United States and the anticipated performance of TAAT® under such circumstances. 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; (iii) changes to the regulatory landscape applicable to the Company's business; and (iv) 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.
]]>LAS VEGAS and VANCOUVER, JUNE 20, 2022 - TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce the appointment of Michael Saxon, a 20-year global veteran of the tobacco industry, as the Company’s Chief Executive Officer (“CEO”) and member of its Board of Directors. Mr. Saxon has been on the TAAT® Advisory Board since late 2020 (as announced in a press release dated October 1, 2020). With considerable experience in attaining profitable market penetration for tobacco products in the United States and several international markets, Mr. Saxon is expected to be instrumental to the Company’s ability to scale the footprint of TAAT® at a global level. Former CEO Setti Coscarella will remain available to the Company as an Advisor.
Michael Saxon is an accomplished consumer products executive with over 25 years of experience growing Fortune 100 businesses in the United States, Europe, and Asia, having successfully influenced government policy and led business units with full P&L responsibility from USD $100 million to USD $3 billion while operating in different regulatory systems. His career reflects a demonstrated history of setting record income and market share results in a wide range of market conditions and succeeding in various go-to-market models, including wholesale, distributor, and DSD. He brings a strong, innovative mindset from his experience creating new products and brands and having been the catalyst for successful large-scale transformation initiatives to drive organic growth and executing M&A transactions to enter new markets. Mr. Saxon served in various positions for over 20 years with Altria Group and Philip Morris International (PMI). Most recently, he helped create Trolley Ventures, a Richmond, VA venture capital firm investing in early-stage start-ups.
Mr. Saxon, who is now Chief Executive Officer of TAAT®, served in various positions for over 20 years with Altria and PMI including heading Altria’s Corporate Venture Fund and leading PMI’s business activities as General Manager for Norway and Denmark. He has led business units with full profit and loss (P&L) responsibility ranging from USD $100 million to USD $3 billion while consistently delivering record business results.
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.
“I’m excited to be joining the TAAT® team,” said Michael Saxon. “This is an exhilarating time in our industry, and TAAT® is positioned to be a disruptor. With about eighteen months of actual market and consumer feedback, I believe TAAT® is in an ideal position to accelerate its commercialization efforts. This will include focusing our efforts on the large and profitable USA market, while our product development team leverages their capabilities to develop other Beyond Tobacco™ products that can further disrupt the USA and other international markets. There is a tremendous market opportunity for the company, and I am eager to launch new initiatives to accelerate adult consumer adoption of TAAT®.”
Former CEO and Director Setti Coscarella stated, “It has been my pleasure to lead TAAT® through our initial years and through the pandemic. At this point, I am satisfied the company is in an excellent position to hand direction over to Mr. Saxon, and I am pleased to be continuing my participation as an Advisor.
The Company announces that it has granted an aggregate of 1,750,000 incentive stock options (“Options”) to directors and officers. The Options have an exercise price of $0.85 per common share (each a “Share”) and are valid for a five-year period from the date of grant. 1,500,000 of the Options will vest quarterly over a period of two years from issuance, starting on the 91st day of grant. The Options were granted in accordance with the Company’s stock option plan.
In connection with Mr. Saxon’s appointment to the Board of Directors and as CEO, the Company has also granted him 1,000,000 restricted share units (“RSUs”) under the Company’s shareholder approved restricted share unit plan (the “RSU Plan”). The RSUs will vest quarterly over a period of two years from issuance, starting on the 91st day of grant and shall entitle Mr. Saxon the ability to acquire one Share of the Company underlying each such RSU by delivering a notice of acquisition to the Company in accordance with the RSU Plan. In accordance with the RSU Plan, the RSUs were priced at $0.85 based on the closing price of the Shares on the Canadian Securities Exchange (CSE) on June 17, 2022.
TAAT® hereby announces that Setti Coscarella has resigned from his positions as Chief Executive Officer and a Director of the Company, effective immediately. The Company would like to thank Mr. Coscarella for his contributions in establishing the product and brand and wishes him well in his future endeavours.
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Joe Deighan”
Joe Deighan, COO 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.
TAAT® develops, manufactures, and distributes alternative products in categories to include tobacco, hemp, kratom, and other emerging segments of the CPG industry. Its flagship product is a nicotine-free, tobacco-free cigarette with a patent-pending base material formulation, sold in over 2,700 U.S. stores. With over CAD $80 million in overall net revenue in 2021, TAAT®’s facilities include a manufacturing plant in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
For more information, please visit http://taatglobal.com.
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: Potential outcomes from the appointment of Michael Saxon as the Chief Executive Officer of the Company and the transition of Setti Coscarella from his former roles as Chief Executive Officer and director to being a member of the TAAT® Board of Advisors effective immediately. 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; (iii) changes to the regulatory landscape applicable to the Company's business; and (iv) 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.
]]>LAS VEGAS and VANCOUVER, JUNE 17, 2022 - TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that it has become the first member of E1011 Labs’ Pilot Partnership Program (“P3”), an initiative by the California-based heat-not-burn innovator to leverage the capabilities and resources of third-party firms to advance its efforts in the tobacco and tobacco-adjacent categories. In a press release dated May 17, 2022, TAAT® announced the release of its sales materials for a heat-not-burn offering made in collaboration with E1011 Labs using the Company’s proprietary and patent-pending base material Beyond Tobacco™, which contains no tobacco or nicotine. TAAT® and E1011 Labs are scheduled to host a shared booth at the InterTabac trade show in Dortmund, Germany (September 15-17, 2022). During the 2019 InterTabac event, approximately 520 exhibitors from approximately 47 countries greeted an audience of over 13,000 attendees; approximately 42% of whom were attending from abroad1.
In its June 14, 2022 press release, E1011 Labs announced the second edition of its patented elon® combustion-free device using precision heating technology with unique features including a touchless “pause” function with which a user can suspend a session by blowing into a circular sensor. E1011 Labs stated the wide range of applications for heat-not-burn technology includes use cases in the pharmaceutical, cannabis, and tobacco categories. As the very first participant in E1011 Labs’ P3 ecosystem, TAAT® will work closely with E1011 Labs to commercialize a novel heat-not-burn option with no tobacco or nicotine.
E1011 Labs’ “elon®” device is pictured with prototype packaging for the TAAT® heatable sticks alongside a USD $1.00 banknote to demonstrate scale. The Company is the first participant in E1011 Labs’ P3 program, as announced in a press release dated July 14, 2022.
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® Founder Joe Deighan commented, “E1011 Labs is proving to be a very strong partner for us, and we are honoured to be the first in their P3 program for collaboration to advance their initiatives in the heat-not-burn space. Our primary focus is on developing, manufacturing, and commercializing our flagship combustible product, which is why E1011 Labs’ reach, R&D bandwidth, and marketing capabilities are invaluable to us as an upcoming entrant to the heat-not-burn space. We are thankful to E1011 Labs’ management for their confidence in us, and we are very excited to be working together for our respective pursuits in the USD $812 billion global tobacco category.”
Sources
1 - https://www.intertabac.de/en/start/
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Joe Deighan”
Joe Deighan, COO 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.
TAAT® develops, manufactures, and distributes alternative products in categories to include tobacco, hemp, kratom, and other emerging segments of the CPG industry. Its flagship product is a nicotine-free, tobacco-free cigarette with a patent-pending base material formulation, sold in over 2,700 U.S. stores. With over CAD $80 million in overall net revenue in 2021, TAAT®’s facilities include a manufacturing plant in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
For more information, please visit http://taatglobal.com.
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: Potential outcomes from the Company’s participation in E1011 Labs’ P3 initiative, and the anticipated launch of the TAAT® heat-not-burn offering in conjunction with E1011 Labs. 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; (iii) changes to the regulatory landscape applicable to the Company's business; and (iv) 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.
]]>Over 100 Southern California franchises in a major global convenience chain are now carrying TAAT®, following the addition of more than 80 new stores after the product was sold for just eight weeks in an initial group of stores, approximately 35% of which have already placed reorders. The Company intends to focus commercialization efforts that are specific to TAAT® Menthol in the Los Angeles area of Southern California, whose City Council recently unanimously voted to ban sales of flavoured tobacco products (e.g., menthol tobacco cigarettes) starting in 2023. As TAAT® is a non-tobacco product, the Company anticipates it can capitalize on this upcoming gap in the tobacco category.
LAS VEGAS and VANCOUVER, JUNE 8, 2022 - TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that TAAT® Original, Smooth, and Menthol are now sold in over 100 franchised stores in Southern California belonging to a major global convenience chain, an increase of more than 80 stores in just eight weeks following an initial placement in 23 stores (as announced in the Company’s April 22, 2022 press release). TAAT® established dialogues with the owners of these franchises through an independent association of franchise owners in Southern California (the “FOA”), who are part of the convenience chain’s network of over 9,300 stores in the United States and more than 70,000 stores worldwide. Approximately 35% of the initial group of franchised stores carrying TAAT® have already placed reorders.
The Company is currently planning to begin initiatives in Southern California to promote TAAT® Menthol in light of an upcoming ban of flavoured tobacco products in Los Angeles (population 3.9 million, second-largest city in the United States) set to begin on January 1, 2023. On Wednesday, June 1, 2022, the Los Angeles City Council unanimously voted to ban the sale of flavoured tobacco products, such as menthol tobacco cigarettes1. Menthol tobacco cigarettes have proven to be exceptionally popular in Los Angeles, with 94.5% of tobacco retailers carrying products in this segment, and 31.2% displaying menthol cigarette price promotions2.
The Company continues to place TAAT® in additional U.S. stores, with a store count now exceeding 2,700. TAAT® Original, Smooth, and Menthol (pictured above) are now carried in over 100 Southern California locations of a major global convenience chain.
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® Founder Joe Deighan commented, “The Southern California FOA is a very strong community of franchise owners in this global convenience chain, in which word gets around very quickly about great new products that can be carried. Virtually all convenience stores sell tobacco cigarettes in the standard brand varieties, but outside of non-combustible offerings such as vaping there are very few alternatives to legacy products in this category. TAAT® initially performed well in the first 23 stores, and in eight weeks that has led to a 35% reorder rate as well as store count growth of about 400% just within the Southern California FOA alone. We are excited to be growing our footprint in this region, especially as TAAT® Menthol can soon become positioned to capture market share in Los Angeles based on the upcoming ban of flavoured tobacco sales, from which our products will be exempt as they do not contain tobacco.”
Sources
1 - https://abcnews.go.com/Health/la-city-council-votes-unanimously-ban-sale-flavored/story?id=85133858
2 - https://www.cdc.gov/pcd/issues/2021/20_0144.htm
In connection with the acquisition of ADCO Distributors, Inc., as previously announced on May 20, 2022, the Company paid a finder's fee of an aggregate total of $36,957 cash and 112,195 common shares in the capital of the Company (the "Finder's Fee Shares") at a deemed value of $1.317602 per Finder's Fee Share. The Finder's Fee Shares are subject to a 12-month hold period, with one-third (1/3) of the aggregate number of Finder's Fee Shares being released on the 4th, 8th and 12th month from the issuance date. The finder's fee reported herein was paid by the Company to an arm’s length third party.
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Joe Deighan”
Joe Deighan, COO 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.
TAAT® develops, manufactures, and distributes alternative products in categories to include tobacco, hemp, kratom, and other emerging segments of the CPG industry. Its flagship product is a nicotine-free, tobacco-free cigarette with a patent-pending base material formulation, sold in over 2,700 U.S. stores. With over CAD $80 million in overall net revenue in 2021, TAAT®’s facilities include a manufacturing plant in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
For more information, please visit http://taatglobal.com.
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: Potential outcomes from the placement of TAAT® in the Southern California franchised convenience stores as 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; (iii) changes to the regulatory landscape applicable to the Company's business; and (iv) 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.
]]>LAS VEGAS and VANCOUVER, JUNE 2, 2022 - TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that its recent acquisition of ADCO Distributors, Inc. (“ADCO”) was covered by Crain’s Cleveland Business in an article dated May 31, 2022, alluding to the transaction’s significance in the northern Ohio business landscape. The Company has previously received press coverage from mainstream outlets to include the Columbus Dispatch1 after TAAT® first launched in Ohio in Q4 2020, as well as Forbes2 on two occasions including the USD $8 million follow-on private placement the Company secured from a group of investors led by Debbie Chang, Co-Founder of Horizons Ventures (in her personal capacity). The May 31, 2022 Crain’s Cleveland Business article about the acquisition of ADCO by TAAT® was covered by Jeremy Nobile, who joined the publication in 2014 as a finance and legal affairs reporter.
The Crain’s Cleveland Business article can be accessed by clicking on the following link: https://www.crainscleveland.com/small-business/hemp-cigarette-maker-taat-buys-canton-company-bid-improve-us-sales
Crain’s Cleveland Business is one of four regional business publications under the umbrella of Crain Communications, a multinational business publishing firm based in Detroit, Michigan. Founded in 1916, Crain Communications currently delivers business news to more than 78 million readers annually3. Its other publications include AdAge, Automotive News, and the world’s leading institutional investing newspaper Pensions & Investments4. First published in March 19805, Crain’s Cleveland Business has more than 217,000 weekly readers6.
Crain’s Cleveland Business is a major business publication with a focus on developments in and relating to the northern region of Ohio in the United States. In an article dated May 31, 2022, Crain’s Cleveland Business covered the acquisition of ADCO by TAAT®, which the Company officially announced the closing of in a press release dated May 20, 2022. The Crain’s Cleveland Business article can be accessed by clicking on the thumbnail above or by clicking here.
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® Founder Joe Deighan commented, “As TAAT® becomes a more established brand in the tobacco category and starts to make bigger moves such as acquiring third-party distributors, it is a natural progression for us to start getting heightened attention from various media outlets. The concept of a nicotine-free and tobacco-free alternative to traditional cigarettes is still fairly novel, though over the past two years we have actively and organically grown awareness and understanding of TAAT® and Beyond Tobacco™ from a ‘product’ perspective, but more importantly as a mission to give current adult smokers a choice to keep the experiences they love while leaving nicotine behind. It is with this awareness and understanding that we have curated an attractive profile for media outlets who want to talk about TAAT® and what moves we’re making as a business. As such, we are very grateful for this media coverage by Crain’s Cleveland Business, putting us in the spotlight of the vibrant business scene of northern Ohio where we hope to begin doing considerably more business in the near future.”
Sources
3 - https://www.crain.com/company/
4 - https://www.crain.com/brands/pensions-investments/
5 - https://www.crain.com/company/history/
6 - https://www.crainscleveland.com/advertise
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Joe Deighan”
Joe Deighan, COO 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.
TAAT® develops, manufactures, and distributes alternative products in categories to include tobacco, hemp, kratom, and other emerging segments of the CPG industry. Its flagship product is a nicotine-free, tobacco-free cigarette with a patent-pending base material formulation, sold in over 2,700 U.S. stores. With over CAD $80 million in overall net revenue in 2021, TAAT®’s facilities include a manufacturing plant in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
For more information, please visit http://taatglobal.com.
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: Potential impact from the May 31, 2022 Crain’s Cleveland Business article about the Company’s acquisition of ADCO, potential growth of the Company’s business activities in the state of Ohio. 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; (iii) changes to the regulatory landscape applicable to the Company's business; and (iv) 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.
]]>LAS VEGAS and VANCOUVER, MAY 27, 2022 - TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that the Company will integrate ongoing consumer research with adult smokers into the three tobacco outlets operated by ADCO Distributors, Inc. (“ADCO”), a major tobacco distributor in Ohio who was acquired by TAAT® as announced in a press release dated May 20, 2022. The three north-central Ohio stores carry a standard range of tobacco products including popular brands of cigarettes (e.g., Marlboro, Newport, Camel) in addition to all three TAAT® varieties. With the direct control TAAT® now has over the management of these three stores, the Company plans to launch store-level initiatives to capture feedback from adult smokers in various situations (e.g., being offered TAAT® in addition to a requested legacy tobacco product). TAAT® believes this approach to consumer research could be far more insightful and cost-effective compared to retaining a third-party service provider.
Although the Company previously commissioned consumer research of adult smokers to evaluate their perceptions of TAAT® both in concept and as an actual product (as detailed in a press release dated April 14, 2021), the novel approach of conducting passive studies in-store on a firsthand basis is expected to capture a level of detail that is unprecedented in the tobacco or consumer packaged goods (“CPG”) categories. Given the routine nature of tobacco cigarette purchases by adult smokers who already have a specific brand preference, there are fairly limited opportunities to observe the actual transaction process as it occurs or to interject with recommendations to also purchase alternative products such as TAAT®. The Company therefore plans to leverage the unique research capabilities afforded by having in-house tobacco outlets to further optimize its retailing strategies in the tobacco category.
Following ADCO’s acquisition by TAAT®, it will continue to operate three tobacco outlets in Ohio where legacy brands of tobacco cigarettes are carried alongside TAAT® Original, Smooth, and Menthol. The Company intends to integrate store-level consumer research into the operations of these tobacco outlets and leverage the resulting insights to optimize its tactics for retail merchandising and activation. All three TAAT® varieties are pictured above in a Nevada tobacco retailer earlier in 2022.
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® Founder Joe Deighan commented, “Most brands have very little visibility into how their product performs at the point of sale, especially in relation to products from competitors. Although some insights can be obtained at a macro level through metrics such as scan records and certain quantitative data points, there is no substitute for being able to observe your target customers firsthand as they go about contemplating or making a purchase. Now that TAAT® owns three tobacco outlets in Ohio, we are able to roll out tailored in-store research initiatives to help us better understand how adult smokers react when they are offered TAAT®. By actively comprehending what factors might contribute to any potential objections or hesitation to trying TAAT®, we are able to fine-tune our retailing strategies to overcome some of those pain points with an objective of bolstering our conversion rates. We are very excited about launching these in-store research programs which I believe could be very impactful for commercializing TAAT® as a better and nicotine-free alternative to tobacco cigarettes.”
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Joe Deighan”
Joe Deighan, COO 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.
TAAT® develops, manufactures, and distributes alternative products in categories to include tobacco, hemp, kratom, and other emerging segments of the CPG industry. Its flagship product is a nicotine-free, tobacco-free cigarette with a patent-pending base material formulation, sold in over 2,700 U.S. stores. With over CAD $80 million in overall net revenue in 2021, TAAT®’s facilities include a manufacturing plant in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
For more information, please visit http://taatglobal.com.
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: Successful launch of integrated in-store consumer research in the three tobacco outlets owned by TAAT® following the Company’s acquisition of ADCO, and potential outcomes from such research. 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; (iii) changes to the regulatory landscape applicable to the Company's business; and (iv) 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.
]]>With over 50 years of combined experience in the tobacco and convenience industries, TAAT® welcomes Pat Bell and Phillip Krumlauf to its executive management team following the Company’s acquisition of ADCO; a convenience wholesaler in Ohio with over CAD $87 million in net revenues in 20211.
LAS VEGAS and VANCOUVER, MAY 25, 2022 - TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) hereby announces that as a result of its acquisition of ADCO Distributors, Inc. (“ADCO”) as announced in the Company’s May 20, 2022 press release, the TAAT® management team has been further strengthened by onboarding accomplished executives from the tobacco and convenience industries as a continuation of their respective engagements with ADCO. In 2022, TAAT® is ambitiously pursuing additional market share in the USD $812 billion global tobacco category, and believes that these enhancements to the Company’s management team with over 50 years of combined experience in the United States could prove instrumental to its ability to grow the current TAAT® footprint of over 2,700 stores nationwide.
Two key appointees to the TAAT® management team are profiled below:
Pat Bell: After becoming ADCO’s Chief Operating Officer in 2016, Mr. Bell grew ADCO’s net revenues from USD $45 million to over USD $80 million. In addition to this role, Mr. Bell is also the Chairman and President of the Ohio Wholesale Marketers Association; whose Associate Trustees include personnel from Altria Group, ITG Brands, and R.J. Reynolds2. For five years, Mr. Bell was a Territory Manager at Swisher International, maker of the world’s best-selling cigar Swisher Sweets, who currently ships over two billion cigars per year to 70 countries3. Right before joining ADCO, Mr. Bell was an Account Manager for Commonwealth-Altadis; a U.S. division of the global tobacco giant Imperial Brands4. Mr. Bell provided insights about his vision for TAAT® and ADCO after closing the acquisition in a video released by the Company on May 20, 2022.
Phillip Krumlauf: During his 34-year career at R.J. Reynolds, Mr. Krumlauf held positions in U.S. markets to include California, Maryland, and Ohio. In addition to sales roles, Mr. Krumlauf was also a Training and Development Manager for new sales representatives of R.J. Reynolds, providing ongoing evaluations and follow-up coaching to optimize performance. From 1999 to 2021, Mr. Krumlauf managed and grew a USD $100 million territory based in Akron, Ohio for R.J. Reynolds. In this capacity, Mr. Krumlauf negotiated favourable wholesale and retail contracts, while cultivating long-term business relationships.
In the Company’s May 20, 2022 press release, TAAT® announced it had successfully acquired ADCO; a tobacco and convenience distributor in Ohio. As a result of this acquisition, TAAT® is welcoming new key members to its management team to include a 34-year account manager and sales trainer for R.J. Reynolds in the United States.
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® Founder Joe Deighan commented, “The benefits of acquiring ADCO go far beyond their distribution infrastructure and wholesale network, as we are also onboarding some exceptionally talented veterans of the tobacco and convenience industries to our management team. As we continue to grow our presence in the tobacco space, this type of industry experience is invaluable to us for creating and maintaining a competitive edge. We are delighted to be welcoming individuals such as Mr. Bell and Mr. Krumlauf to the TAAT® team, and we look forward to working together in leveraging our respective strengths to drive long-term growth.”
Sources
2 - http://ohiowholesalers.org/aws/OWMA/pt/sp/board
3 - https://swishersweets.com/pages/about
4 - https://www.imperialbrandsplc.com/about-us/our-companies/itg-brands.html
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Joe Deighan”
Joe Deighan, COO 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 $812 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
References
1 Statista: Consumer Markets - Tobacco Products
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: Potential outcomes and impact from the engagement of Mr. Bell and Mr. Krumlauf by TAAT® following the completion of its acquisition of ADCO. 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; (iii) changes to the regulatory landscape applicable to the Company's business; and (iv) 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.
]]>
LAS VEGAS and VANCOUVER, MAY 20, 2022 - TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that it has successfully closed its acquisition of HLND Holdings, Inc. (“HLND”), after the deal became definitive as announced in the Company’s April 21, 2022 press release. HLND is the parent entity of ADCO Distributors, Inc. (“ADCO”), a tobacco distributor based in Canton, Ohio that was established in 1960 and currently has access to a substantial network of retailers throughout the state through direct and indirect relationships. In a press release dated October 6, 2020, the Company announced that ADCO made an initial purchase order of TAAT® after becoming its first U.S. distributor. After ADCO placed TAAT® in its first stores in the state of Ohio, TAAT® products were officially “on the market” in direct competition with cigarette products that contain tobacco. As of May 2022, the TAAT® retail presence in Ohio consists of hundreds of stores, which the Company plans to aggressively build upon through ADCO’s distribution network and commercialization resources.
To provide greater detail regarding this acquisition and its significance for the Company, TAAT® has released an informational video featuring its Co-Founder Joe Deighan as well as Pat Bell and Barry Adelman of ADCO. This video can be viewed by clicking on the thumbnail below or by clicking here.
The acquisition of HLND by TAAT® can create numerous potential benefits for the Company, which are discussed by TAAT® Co-Founder Joe Deighan as well as Pat Bell and Barry Adelman of ADCO in a video recently released after the acquisition deal closed. The video can be viewed by clicking on the thumbnail above, or by clicking here.
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® Co-Founder Joe Deighan commented, “In less than two years, ADCO has generated wonderful results for us as a distributor, and has contributed to our growth from being a new competitor in the tobacco category to a brand sold nationwide as a better alternative to tobacco cigarettes. With a network of over 2,500 U.S. retailers of TAAT®, our business model has matured to the point that we can focus on creating strategic efficiencies by taking certain aspects of our operations in-house, such as distribution. The acquisition of ADCO can also fortify our financial position as ADCO will continue distributing its standard convenience product lines, which collectively generated over CAD $87 million in net revenues in calendar 2021. With this integrated distribution part of the Company now that the acquisition has closed, we are an even stronger player in the USD $812 billion global tobacco industry where we are just getting started.”
The acquisition of ADCO was completed pursuant to a securities exchange agreement dated April 20, 2022, as amended April 27, 2022 and May 13, 2022 among the Company as purchaser, ADCO, HLND, and the shareholders of HLND, as vendors. As consideration the Company paid an aggregate of CAD $6,159,500 in cash and equity (the "Purchase Price"), comprised of CAD $1,170,305 of the Purchase Price in cash and the remaining CAD $4,989,195 of the Purchase Price in common shares in the capital of the Company (the "Consideration Shares"). A total of 3,786,572 Consideration Shares were issued at a deemed price of $1.317602 per Consideration Share, representing the 45-day volume weighted average closing price of the Company's common shares. The vendors are arm's length to the Company. The Company relied on the Section 2.16 of National Instrument 45-106 (Take-Over) prospectus exemption to issue the Consideration Shares, which are subject to a contractual hold period of at least 12 months, with one-third (1/3) of the Consideration Shares being released every four (4) months from closing.
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Joe Deighan”
Joe Deighan, COO 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 $812 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
References
1 Statista: Consumer Markets - Tobacco Products
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, and ADCO's continued performance in its distribution business. 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; (iii) changes to the regulatory landscape applicable to the Company's business; and (iv) 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.
]]>LAS VEGAS and VANCOUVER, MAY 17, 2022 - TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that in anticipation of the launch of its heat-not-burn offering, the Company has released the first edition of its retail point-of-sale materials for this new product category. In a press release dated April 27, 2022, TAAT® announced that the development of its heat-not-burn offering was advancing as the Company received the first TAAT® commercial samples from its manufacturing and development partner E1011 Labs, with whom the Company will be exhibiting at the InterTabac trade show in Dortmund, Germany (September 15-17, 2022).
Major tobacco firms worldwide appear to have expressed considerable interest in smoke-free alternatives to tobacco cigarettes, which can be exemplified by Philip Morris International’s cumulative investment of USD $8.1 billion into the category since 20082. Additionally, the Canadian producer of a nicotine-free heat-not-burn product known as PODA announced in a press release issued May 13, 2022 that its intellectual property was being sold to a subsidiary of Altria Group, Inc. for USD $100.5 million (please refer to Poda Holdings, Inc.’s May 13, 2022 press release for full details). Based on this apparent sustained interest in heat-not-burn from the tobacco industry, TAAT® recognizes the importance of gaining market share as it continues to build its global brand as a leader in better alternatives to tobacco products for adult smokers globally.
TAAT® plans to launch a heat-not-burn offering in partnership with E1011 Labs which will avail a nicotine-free and tobacco-free option for adult smokers who are switching to this emerging category of alternatives to cigarettes. In May 2022, the Company issued its point-of-sale materials pictured above for countertop placements in retail stores carrying TAAT® heat-not-burn products.
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® Co-Founder Joe Deighan commented, “Building upon the success of TAAT® to date, we are confident that rolling out our heat-not-burn offering can be done fairly rapidly between our existing sales and distribution infrastructure, as well as macro-level growth of the heat-not-burn category globally. Major tobacco firms have invested heavily into developing and commercializing heat-not-burn, though the vast majority of products in this segment still contain nicotine. We have always been all about giving adult smokers the choice to go without nicotine while still enjoying the experiences they love, and as such we are thrilled to continue moving forward with launching TAAT® heat-not-burn.”
Sources
2 - https://www.pmi.com/our-transformation/pmi-aims-to-become-a-majority-smoke-free-business-by-2025
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Joe Deighan”
Joe Deighan, COO 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 $812 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
References
1 Statista: Consumer Markets - Tobacco Products
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: Successful launch and performance of TAAT® heat-not-burn in the United States, any aspects of the intellectual property sale announced by Poda Holdings, Inc. in its May 13, 2022 press release that are not yet final as of the publication of this 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.
]]>LAS VEGAS and VANCOUVER, MAY 13, 2022 - TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that it has filed an expedited patent application in the United States for a refinement process of the Beyond Tobacco™ base material for TAAT® in which a broader scope of reconstituted materials containing zero hemp can be utilized to produce a nicotine-free and tobacco-free smoking experience substantially resembling that of a traditional tobacco cigarette, without any residual cannabinoids (e.g., mullein, hops, lavender, chamomile, ginseng, sage, and peppermint). While cannabis is currently permitted in several global markets, it remains illegal in most others including the majority of Asian nations1. As TAAT® sets out to capture an even greater market share in the USD $812 billion global tobacco industry, the Company has recognized the importance of making its nicotine-free and tobacco-free product saleable in a broader range of nations around the world by developing a Beyond Tobacco™ formulation using reconstituted biomass with zero hemp.
Although the Company has had dialogues with tobacco distributors in regions with high smoking incidence rates where TAAT® is expected to enjoy significant popularity as a nicotine-free alternative to cigarettes (e.g., Asia-Pacific/APAC, Middle East and North Africa/MENA, Gulf Cooperation Council/GCC member states), it cannot be sold in several key markets due to the presence of cannabidiol (“CBD”) and negligible tetrahydrocannabinol (“THC”) content in the current Beyond Tobacco™ formulation. To overcome this obstacle, the Company has experimented with numerous non-hemp plant materials with which the Beyond Tobacco™ base material can be manufactured, and TAAT® has identified specific biomass types that can be consistently sourced at a commercial scale for potential distribution in new global markets. The Company has also identified numerous benefits that are specific to these materials, which TAAT® believes could enhance the value proposition of its zero-hemp formulations.
By offering a version of TAAT® with zero CBD or THC content whatsoever in addition to the legacy Beyond Tobacco™ formulation, the Company anticipates it can considerably expand its Total Addressable Market (“TAM”).
To expand its Total Addressable Market in the USD $812 billion global tobacco industry, the Company has developed and filed an expedited U.S. patent for a zero-hemp formulation of the Beyond Tobacco™ base material of TAAT®. A sample TAAT® stick made with the zero-hemp formulation is shown in the image above.
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® Founder Joe Deighan commented, “Although hemp and various cannabinoids are fundamental to the TAAT® and Beyond Tobacco™ vision with respect to the benefits they provide to adult tobacco smokers who are looking to leave nicotine behind, the use of hemp material inherently limits the global markets in which TAAT® can be sold. We are eager to enter regions such as Asia and the Middle East, where there is evident demand for a nicotine-free and tobacco-free alternative that is better than tobacco cigarettes. However, even in markets where legalization of hemp appears to be imminent at some point in the future, it can take a matter of years to actually happen. Instead of waiting around, we have spent the past several months developing a formulation of Beyond Tobacco™ using materials other than hemp that still provide a user experience nearly identical to that of smoking a tobacco cigarette. This can enable us to launch TAAT® virtually anywhere in the world, as we continue to pursue market share in the USD $812 billion global tobacco industry.”
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Joe Deighan”
Joe Deighan, COO 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 $812 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
References
1 Statista: Consumer Markets - Tobacco Products
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: Successful issuance of patents as described 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.
]]>
In the 2020s, tobacco advertisements are rarely seen in Western markets due to long-standing bans on advertising of tobacco products. While TAAT® currently benefits from its ability to advertise in markets such as the United States as a non-tobacco product, voters in Switzerland only recently approved legislation to ban tobacco advertising in public spaces. The Company is therefore planning to launch TAAT® in Switzerland to capitalize on this potential competitive advantage by using tactics such as displaying advertisements (provisional design shown above for illustrative purposes) in public areas that are commonly visited by adult smokers.
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.
The Company has been exploring several launch opportunities throughout Europe, particularly after finalizing the advanced formulation of Beyond Tobacco™ using reconstituted material. In a press release dated September 3, 2021, TAAT® announced that the advanced Beyond Tobacco™ formulation yielded excellent feedback from tobacco wholesalers in markets to include Germany, Poland, France, and Switzerland. Pending final regulatory approval of the TAAT® product by Swiss authorities, the Company expects Switzerland to be the first new international market to be added for TAAT® in 2022 following the pending finalization of a distribution agreement and initial purchase order. Switzerland currently has a higher adult smoking rate than the European average at 27%2; more than double the national rate of 12.5% in the United States3.
As TAAT® is a non-tobacco product, the Company benefits from an extensive range of freedoms with respect to its ability to market through public-facing media in markets where tobacco advertisements are restricted or disallowed. In the United States, TAAT® has advertised its brand as a better alternative to tobacco cigarettes through methods such as in-store displays at the point of sale, as well as sports sponsorships (e.g., a stock car racing team, the entourage of world champion boxer Floyd Mayweather). The Company intends to strategically place German-language advertisements such as the mockup shown below as part of its launch plan in Switzerland, with French-language variations for markets in western Switzerland such as Geneva, the country’s second-ranking city by population.
TAAT® Founder Joe Deighan commented, “As the tobacco industry continues to evolve, it is a major part of our playbook to jump on opportunities to do things that tobacco companies cannot do as a way for TAAT® to gain a competitive advantage. Switzerland was already a target market for a future TAAT® launch due to its relatively high adult smoking rate of 27% and its optimal location in the centre of Europe, sharing a border with five other nations. However, with Switzerland set to put an end to tobacco advertising based on a vote for new legislation last quarter, we recognized this impending change for the timely opportunity that I believe it to be. We are working closely with a Swiss tobacco distributor who is now in the final stages of obtaining government approval for TAAT® to be sold in Switzerland, and I am excited for the next steps as we continue to build out our tobacco industry footprint.”
Sources
1 - https://www.nytimes.com/2022/02/13/world/europe/switzerland-tobacco-ad-ban.html
2 - https://www.bbc.com/news/world-europe-60333336
3 - 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.
“Joe Deighan”
Joe Deighan, COO 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 $812 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
References
1 Statista: Consumer Markets - Tobacco Products
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: Approval of TAAT® and Beyond Tobacco™ by relevant authorities in Switzerland, potential launch of TAAT® in Switzerland including a potential purchase order and planned advertising campaign in public spaces, anticipated impact of tobacco advertising ban in Switzerland as voted on in February 2022. 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.
]]>LAS VEGAS and VANCOUVER, MAY 5, 2022 - TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that it has launched TAAT® Nation; a lifestyle-driven brand extension for a target audience of adult smokers who are existing users of TAAT® Original, Smooth and Menthol. After launching in the United States in December 2020, TAAT® products are now sold in over 2,500 stores nationwide and are widely recognized as a nicotine-free and tobacco-free alternative to tobacco cigarettes. Having established an initial user base of adult smokers who have partially or completely switched to TAAT® from legacy tobacco products, the Company has identified the importance of organically cultivating sustained engagement with the TAAT® brand as a movement transcending the core offering of tobacco alternatives. The Company has foreshadowed this brand-enrichment approach with lifestyle-related sponsorships to include events (e.g., the Mister Supranational 2021 pageant and the Tobacco Plus Expo after-party), athletes (e.g., Floyd Mayweather’s entourage for the Mayweather vs Paul boxing match in June 2021), and sports media (e.g., the “In the Huddle” podcast under Raider Nation, provided at no cost to TAAT®). The Company also launched a collection of TAAT® branded merchandise last quarter (announced in a press release dated February 4, 2022), which has proven beneficial as an expansion of the brand’s reach within its user base of adult smokers. By driving customer engagement through channels and initiatives that complement the TAAT® product itself, the brand continues to fortify its relationship with its growing population of loyal supporters.
The Company recently began publishing a series of original video content built around the concept of “moments” on the TAAT® Nation YouTube channel. Through scenes with characters such as automotive mechanics, hikers, and bartenders, the TAAT® experience is displayed to highlight its motions that are almost identical to those undertaken when smoking a tobacco cigarette. TAAT® plans to continue producing similar content along with “candid” user anecdotes captured in settings to include the point of sale and events where TAAT® is used (e.g., festivals, sports matches, etc.), with a central objective of conveying the “TAAT® experience” to the growing community of users becoming known as TAAT® Nation.
The TAAT® Nation YouTube channel can be accessed through the following link: TAAT® Nation YouTube Channel
As an additional component of TAAT® Nation, the Company plans to offer subscription-based home delivery to existing users of TAAT® in the United States. In addition to the convenience of recurring scheduled deliveries of TAAT® products, adult smokers who subscribe to this service will be eligible to enjoy exclusive benefits such as promotional offers, invitations to private events, and contests. More information will be made available on the TryTAAT website at a later date.
The YouTube channel pictured above will be a primary fixture of TAAT® Nation, featuring original promotional videos, user testimonials, and various footage from events and other settings in which TAAT® products are used. To access the TAAT® Nation YouTube channel and view its videos, please click here.
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® Founder Joe Deighan commented, “Many CPG brands in categories such as alcohol, energy drinks, and snacks have launched marketing initiatives to emphasize how their respective offerings align with the lifestyles of their target audiences. The general act of having a smoke is a ‘moment’ relatable to adult smokers everywhere, whether that may be a routine smoke during your lunch break at work, or a smoke because you feel like it while you’re at a music festival or in a nightclub. These moments occur billions of times per day worldwide, and I believe that what defines the TAAT® brand is the freedom to continue enjoying those moments without having to consume tobacco or nicotine. Over the past 18 months, we commercialized TAAT® all across the United States and have built a robust user base who we now refer to as TAAT® Nation. They already love TAAT® and are proud to be part of a growing community of adult smokers who are making a better choice, while continuing to enjoy their moments. With the launch of TAAT® Nation, we are excited about leveraging our existing momentum to continue growing our brand equity in the tobacco industry.”
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Joe Deighan”
Joe Deighan, COO 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 $812 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
References
1 Statista: Consumer Markets - Tobacco Products
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: Potential impact of TAAT® Nation on the performance of TAAT® products in the United States, continued publication of TAAT® Nation content, successful launch of the TAAT® Nation subscription offering as described 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.
]]>For more information about Par Mar Stores, please visit the following web page: https://www.parmarstores.com/
Additionally, in a February 11, 2022 press release the Company announced that it would be deploying an incentive program for chain retailers to enhance in-store conversion rates for the distribution of TAAT® Twos as samples leading to first-time purchases of TAAT® packs by adult smokers. In summary, the program will allow retailers to earn incentive payments by distributing free TAAT® Twos samples to adult smokers purchasing a pack of tobacco cigarettes. After using the TAAT® sample, the purchaser can choose to return to the store and claim a discount on a full pack of TAAT® Original, Smooth, or Menthol. Participating chains in this program must have between five and 5,000 U.S. stores and are required to carry a robust supply of TAAT® Original, Smooth, and Menthol alongside a standard range of leading tobacco cigarette brands such as Marlboro and Newport. The Company will negotiate an incentive plan based on a conversion yield structure with each individual chain, aligned with similar activation incentive programs currently offered by CPG vendors. This program is scheduled to launch in Par Mar Stores on May 1, 2022, and the Company expects the program to enhance the rates of first-time and repeat TAAT® pack purchases in Par Mar Stores.
Starting on May 1, 2022 in conjunction with the chain retailer incentive program set to launch on the same date, Par Mar Stores will feature TAAT® as part of campaigns on its social media channels as well as the Par Mar App; a smartphone application through which patrons of Par Mar Stores can access promotions, rewards, and information.
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® Founder Joe Deighan commented, “Adult tobacco smokers tend to be very loyal to their preferred brand of cigarettes, and this can be a major obstacle when it comes to persuading them to try switching to alternatives such as TAAT®. In most other CPG categories such as soft drinks, candy, snacks, beer, and liquor, it is standard for there to be ‘single-serving’ offerings available for purchase (e.g., one can of soda) that do not require the consumer to purchase a ‘pack’ or ‘case’ of several single servings at once, even just to try it for the first time. This type of flexibility does not currently exist for adult smokers when trying alternatives to their preferred brand of cigarettes, and by launching TAAT® Twos it is our objective to change that. We are confident that TAAT® Twos will be desirable in and of itself as a unique small-format option, but more importantly we are confident that it will be a catalyst for converting adult smokers to try TAAT® for the first time when either sold at retail or handed out as samples. Par Mar Stores is an established retailer of TAAT® in Ohio, Pennsylvania, and West Virginia, and with their participation in the chain retailer incentive program set to launch on May 1 I believe they can play a key role in continuing to grow our U.S. market share in the second year in which TAAT® is being sold at retail.”
Sources
1 - https://www.parmarstores.com/
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Joe Deighan”
Joe Deighan, COO 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 $812 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
References
1 Statista: Consumer Markets - Tobacco Products
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: Continued sales of TAAT® Twos in Par Mar Stores, launch and potential success of the chain retailer incentive program and concurrent promotional campaign (via social media and the Par Mar smartphone app) described 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.
]]>The TAAT® heat-not-burn offering will consist of a reusable device (pictured below) that is reverse-compatible with heated tobacco sticks offered by the Company’s competitors, as well as TAAT® heatable sticks in Original and Menthol flavours. The hardware and heatable sticks will be marketed and sold under the TAAT® brand name in the United States starting in either Q3 or Q4 2022. By providing an additional nicotine-free and tobacco-free alternative to popular tobacco products, the Company believes it can further expand its existing market share in the global tobacco industry.
Based on the popularity of heat-not-burn tobacco products in international markets, TAAT® has arranged to showcase its heat-not-burn offering as an exhibitor at the InterTabac trade show in Dortmund, Germany (September 15-17, 2022). During the 2019 InterTabac event, approximately 520 exhibitors from approximately 47 countries greeted an audience of over 13,000 attendees; approximately 42% of whom were attending from abroad1.
For more information about InterTabac, please visit the following web page: https://www.intertabac.de/en/portal/
By the end of 2022, TAAT® plans to launch a heat-not-burn offering in the United States. In April 2022 the Company received its first batch of commercial samples for the heatable sticks, which it has recently evaluated in-house to adjust the base material formulation in order to align the flavour of the sticks with the existing range of TAAT® combustible products. In addition to heatable sticks, the heat-not-burn device shown above will also be sold under the TAAT® brand name.
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, “Tobacco companies have invested heavily into the development of heat-not-burn solutions for the simple reason that many adult smokers worldwide are on the lookout for something different. Although combustible products such as cigarettes remain dominant, heat-not-burn seems to have a relatively high user retention rate compared to other alternatives on the market. Based on this, we are building upon our existing footprint in the tobacco industry by creating a nicotine-free and tobacco-free offering in the heat-not-burn segment, which I believe can enhance our ability to capture market share globally. We look forward to finalizing the exact product formulation as well as its commercialization plan as we prepare to launch TAAT® heat-not-burn in 2022.”
Sources
1 - https://www.intertabac.de/en/start/
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 $812 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
References
1 Statista: Consumer Markets - Tobacco Products
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: Completion of further research and development work on the TAAT® heat-not-burn offering, launch of TAAT® heat-not-burn in the United States by the end of 2022, presence and potential performance of TAAT® as an exhibitor showcasing its planned heat-not-burn offering at InterTabac trade show in Germany in September 2022. 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.
]]>These purchase orders were facilitated through the Company’s relationship with a franchise owners’ association based in Southern California (“FOA”) during a trade show held by the FOA in April 2022. The FOA could prove instrumental to the Company’s ability to place TAAT® products throughout Southern California, and potentially to other franchisees in the convenience chain in other geographies. Resulting from positive reception of TAAT® at the April 2022 trade show held by the FOA, the Company has been invited to exhibit at additional franchise owner association events scheduled to be held in Northern California and Chicago. The “Chicagoland” metropolitan area is a key market for the Company, as unique combinations of city, county, and state taxes on tobacco cigarettes result in the highest combined cigarette taxes in the United States amounting to USD $7.16 per pack in Chicago, representing taxes alone in addition to the actual retail price and the federal per-pack excise tax1.
Although the Company initially sought to place TAAT® in independent retail stores (e.g., convenience, gas stations, tobacconists) to build an early-stage market position, it has started to pursue independently-owned franchises of chain stores as TAAT® points of sale to observe how the products perform in an inherently “corporate” environment (i.e., in comparison to non-chain retail settings). This strategy has enabled TAAT® to overcome barriers to becoming a network-wide supplier to retail chains, which expands the Company's opportunities for building a market presence in the tobacco industry in the near-term.
The TAAT® countertop display (shown above) has proven to be a very effective method of merchandising TAAT® products in retail stores. Aside from being efficient for onboarding purposes (i.e., retailers are not required to immediately reconfigure their cigarette displays to begin carrying TAAT®), the countertop displays convey key information to adult smokers who are considering purchasing TAAT® for the first time. The Company has delivered countertop displays to 29 franchises of a global convenience chain located in Southern California, a region in which TAAT® already has an established presence.
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, “We are excited to have this opportunity to enter stores in a prestigious global convenience chain, with the help of the FOA and the support of its members who have placed initial purchase orders. The tobacco category is extraordinarily difficult to penetrate when it comes to gaining distribution; not just because of the complex nuances of aligning your availability with smokers’ shopping routines, but also because tobacco companies everywhere do everything they can to impede new entrants to the market. Given how much of a challenge it is to enter chains through their corporate headquarters based on factors such as this, we’ve taken a different approach to getting into their stores by working directly with individual franchisees, which has already landed TAAT® in several national U.S. gas station chains. Based on our performance in those stores we are now scaling things up by working with franchise owner associations, who provide us a warm introduction to the decision-makers for each store who can choose to carry TAAT® once they are introduced to the product. It’s a compelling proposition for franchise owners, because the profit margins they earn on TAAT® are much higher than what they can earn selling tobacco cigarettes at mandated pricing. We are thrilled to have landed these initial TAAT® purchase orders resulting from just five hours at an FOA trade show, and we look forward to hopefully expanding our presence within the ecosystem of franchisees in the global convenience chain, particularly as we start to attend additional events for their franchise owners.”
Sources
1 - https://www.tobaccofreekids.org/assets/factsheets/0267.pdf
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 $812 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
References
1 Statista: Consumer Markets - Tobacco Products
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: Performance of TAAT® in the 29 Southern California franchised convenience stores as described in the press release, performance of the Company at the upcoming trade shows mentioned 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.
]]>As TAAT® becomes a national-scale brand in the tobacco alternatives industry, the Company is seeking to align its practices with certain industry leaders who have converted the distribution components of their respective supply chains into in-house business units to realize benefits that can include cost efficiency and improved visibility into the movement of product to the end consumer. In addition to TAAT® and major brands of tobacco cigarettes, HLND also carries a full range of convenience store products such as candy, snacks, beverages, and paper products.
In the video clip above, various footage from HLND’s facility in Canton, Ohio is shown. The Company is acquiring HLND with an objective of optimizing the TAAT® supply chain to pursue benefits such as enhanced oversight of the movement of TAAT® at the wholesale level in the north-central region of the United States, as well as the opportunity to strengthen its operating margins by handling certain aspects of TAAT® distribution in-house.
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, “Our journey towards becoming a bigger player in the tobacco alternatives industry is rapidly accelerating, and we are thrilled to be moving forward with this acquisition deal of HLND which can provide us many advantages with respect to our operations in the United States. With experienced industry leadership on our side, we benefit from unparalleled insights when it comes to building a competitive edge in this dynamic and rapidly evolving space. We are excited to be taking the next steps as we seek to scale our business even further in 2022.”
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 $812 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
References
1 Statista: Consumer Markets - Tobacco Products
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: Closing of the transaction for TAAT® to acquire HLND as described in the press release, cooperation of HLND with respect to agreed-upon deal terms, potential benefits TAAT® could realize by acquiring HLND. 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.
]]>