LAS VEGAS and VANCOUVER, British Columbia, April 29, 2022 (GLOBE NEWSWIRE) -- TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that in addition to carrying the standard 20-stick packs of TAAT® Original, Smooth, and Menthol, Par Mar Stores in Ohio, Pennsylvania, and West Virginia are the first TAAT® points of sale in the United States to carry the unique small-format SKU known as TAAT® Twos. Containing two sticks of a given TAAT® flavour, TAAT® Twos provide an approachable option for adult smokers to sample the Beyond Nicotine™ experience without the need to purchase a full pack. Similar to full-sized TAAT® packs, TAAT® Twos can also be sold at a relatively desirable profit margin compared to legacy tobacco products. In a press release dated November 26, 2021, the Company announced that all three flavours of TAAT® would be placed in all the points of sale operated by Par Mar Stores to include gas stations under national banners such as Amoco, British Petroleum (BP), Shell, and Sunoco1.
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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5b3cea3a-42eb-4490-8552-1952bce3cff5
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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)
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.
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.
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Disclosures relating to investor relations firms retained by TAAT® Global Alternatives Inc. can be found under the Company's profile on http://sedar.com.
