With the largest U.K. shipment of TAAT® to date now set to arrive this quarter, the Company’s U.K. TAAT® distributor plans to expand the brand’s footprint into other markets in the southeastern region of the country.
LAS VEGAS and VANCOUVER, British Columbia, Sept. 16, 2022 (GLOBE NEWSWIRE) -- TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that it has dispatched a “full-container” shipment of TAAT® to the United Kingdom, marking the Company’s largest U.K. shipment to date at approximately three times the amount of product sent previously. This shipment will be used to further expand distribution of TAAT® outside of the Greater London area into additional markets in the southeastern region of the United Kingdom, which the Company is presently coordinating with Green Global Earth (“GGE”), its U.K. wholesale partner.
TAAT® Chief Executive Officer Michael Saxon commented, “So far, 2022 has been an adventure as we expanded internationally into the United Kingdom. Certain challenges we have faced in the supply chain are customary, especially for a new product like TAAT®. We believe we are at the end of those early-stage hurdles and we can begin to ship more regularly to the U.K., as our first international market. I was in London earlier this week working directly with our partners at GGE to plan how exactly we will carry out our upcoming expansion within the United Kingdom, and I will be returning later this year to discuss our plans for 2023.”
TAAT® Chief Executive Officer Michael Saxon (left) is pictured with GGE Chief Executive Officer John Hilton (right) at the InterTabac trade show in Dortmund, Germany. Mr. Saxon and Mr. Hilton are currently aligning the resources of TAAT® and GGE to optimize growth-stage commercialization of TAAT® products in the United Kingdom as GGE prepares to receive its largest shipment to date from the Company.
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.
In a press release dated July 22, 2022, TAAT® announced that it had received a third reorder from GGE, who was particularly enthusiastic about receiving TAAT® made with Beyond Tobacco™ “V3”. Adult smokers in the United States and the United Kingdom have indicated that the experience of smoking V3 is enjoyable and bears a greater resemblance to the experience of smoking regular tobacco, despite containing no nicotine. As of this writing TAAT® is primarily sold in South London; a presence that the Company and GGE intend to leverage to organically establish an expanded footprint in new markets in nearby regions.
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: Final delivery of the full-container shipment of TAAT® to the United Kingdom, anticipated expansion of TAAT® outside of Greater London, potential outcomes from marketing and commercialization efforts for TAAT® in the United Kingdom targeted towards adult smokers and the retailers from which they would ordinarily purchase tobacco products. 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2ae91b47-69c4-45c8-8187-168ea8c5668e
