LAS VEGAS and VANCOUVER, British Columbia, Sept. 03, 2021 (GLOBE NEWSWIRE) -- TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT), (OTCQX: TOBAF), (FRANKFURT: 2TP), (the “Company” or “TAAT™”) is pleased to announce that it has started to operate out of its new facilities in the Las Vegas, Nevada area, providing significant additional operational space and production resources in combination with its original facility on West Post Road. In a press release dated July 16, 2021, the Company announced that its preparation tasks for the new facilities were still on schedule for a launch in the following month, in line with the Company’s business objectives for domestic and international activities already underway. Since then, TAAT™ has announced new purchase orders for distribution in the United Kingdom, Ireland, and Australia amounting to more than CAD $1,600,000 in total value (in press releases dated August 20, 2021 and August 27, 2021), in addition to distribution of TAAT™ in seven new U.S. states in just a two-month period (in an August 17, 2021 press release). Still in just its third full calendar quarter of retail availability, global demand for TAAT™ has grown steadily over the course of 2021 as the Company has diligently coordinated strategic launches in a wide range of markets.
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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.
Additionally, samples of TAAT™ with an advanced formulation of Beyond Tobacco™ using reconstituted material were recently sent to tobacco wholesalers in the United States, the United Kingdom, Ireland, Germany, Poland, France, and Switzerland. The general consensus among the tobacco wholesalers who received these samples was overwhelmingly positive with regard to the similarity of the product’s user experience compared to that of a tobacco cigarette. Based on anecdotal feedback from smokers aged 21+ and TAAT™ retailers, as well as survey responses from consumer research conducted earlier this year (detailed in the Company’s April 14, 2021 press release), the Company identified several opportunities to enhance the user experience of TAAT™ by using reconstituted material in Beyond Tobacco™. The advanced formulation was developed with the objective of making improvements to include the following:
- Flavour combinations to generate a taste and smell resembling actual tobacco to a greater degree;
- Higher production velocity, thus increasing the overall efficiency of the Company’s manufacturing processes in its new facilities;
- Significantly lower weight of each TAAT™ stick, approximately matching the weight of a typical tobacco cigarette;
- Adjusted burning rate to ensure smokers aged 21+ who use TAAT™ will finish each stick with approximately the same “puff count” as a standard tobacco cigarette of the same length; and
- Cutting the base material differently to ensure each TAAT™ stick consistently burns to completion without prematurely extinguishing.
The reconstituted formulation of Beyond Tobacco™ is now ready for production, which is set to begin this quarter.
TAAT™ Chief Executive Officer Setti Coscarella commented, “With so many new international opportunities on the horizon, our facility expansion is a very important part of our growth strategy as we go into our second year of operations in which we expect TAAT™ to be launched in several new markets. With an abundance of feedback about TAAT™ from smokers aged 21+ who have sampled the product since it first launched in Ohio in Q4 2020, our advanced formulation of the Beyond Tobacco™ base material has made the user experience even closer to that of smoking a tobacco cigarette. Samples of TAAT™ with this advanced formulation have been sent to tobacco wholesalers across Europe, and based on their sentiments we are very confident that there will be even more TAAT™ placements in European markets in the near future.”
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)
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 $814 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
References
1 British American Tobacco - The Global Market
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur, or be achieved. Forward-looking information in this news release includes statements regarding the anticipated performance of TAAT™ in the tobacco industry, in addition to the following: Potential outcomes from the operations of the new TAAT™ facilities in Las Vegas, potential performance and reception of the advanced Beyond Tobacco™ formulation, potential outcomes relating to initial feedback from tobacco wholesalers in Europe who recently received TAAT™ samples with the advanced Beyond Tobacco™ formulation. 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.
