LAS VEGAS and VANCOUVER, British Columbia, Sept. 12, 2022 (GLOBE NEWSWIRE) -- TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that sales of all TAAT® varieties have increased by approximately 200% month-over-month across the Speedee Mart chain, the Company’s “anchor account” for the Las Vegas market. In a press release dated March 2, 2022, TAAT® announced that it had landed a chain-wide placement with Speedee Mart, who has operated gas stations across the Las Vegas valley since 1995.
In addition to its lower price point and value proposition as a uniquely tobacco-free/nicotine-free offering, TAAT® has organically cultivated a steadily growing user base of adult smokers in the Las Vegas market through its presence at prominent local events (e.g., “First Fridays” in the Arts District) as well as its expanding portfolio of retailers throughout the city, which has a population of over 640,0001 and in 2021 welcomed over 32 million tourist visitors2.
Earlier in 2022, TAAT® was placed in all Speedee Mart locations in the Las Vegas area. Based on recent improvements to in-store activation strategies as well as localized marketing initiatives targeted towards adult smokers in Las Vegas, sales of TAAT® have tripled across the Speedee Mart chain from July 2022 to August 2022.
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TAAT® Chief Executive Officer Michael Saxon commented, “We’ve made significant changes at TAAT® since I became CEO just a couple of months ago. Although we can only share so much about our playbook for competitive reasons, something I’ve been vocal about is the role of ‘focus markets’ in our commercialization strategy. Selling new products, especially category creators, in the CPG and tobacco categories isn’t as simple as just putting it on the shelf. There needs to be a concentrated effort between sales and marketing to make adult smokers aware that the product exists, create moments that generate trials of the product, and convert that interest into recurring purchases. Within the first weeks, we determined that Las Vegas, our home market, was to be our top priority market in 2022 and Speedee Mart has been a terrific partner. We are delighted that sales of TAAT® have tripled across Speedee Mart from July to August, and we are excited to continue working with them to sustain this growth. We look forward to deploying this same approach in other priority markets like San Diego, Texas and others into 2023.”
Sources
1 - https://www.census.gov/quickfacts/lasvegascitynevada
2 - https://www.lvcva.com/research/visitor-statistics/
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Michael Saxon”
Michael Saxon, CEO and Director
For further information, please contact:
TAAT® Investor Relations
1-833-TAAT-USA (1-833-822-8872)
investor@taatglobal.com
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 such as tobacco, hemp, kratom, and other emerging CPG segments. Its flagship product is a nicotine-free/tobacco-free combustible with a patent-pending base material formulation, sold in several thousand U.S. stores. With over CAD $80 million in overall gross revenue annually, TAAT®’s facilities include an operations centre 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 based on increased sales of TAAT® in Las Vegas Speedee Mart locations. 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.
