LAS VEGAS and VANCOUVER, British Columbia, Oct. 22, 2021 (GLOBE NEWSWIRE) -- TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that several large-scale tobacco wholesalers in the United Kingdom have received TAAT™, and expressed a high level of enthusiasm about the product based on its several advantages compared to traditional tobacco cigarettes. In a press release dated September 29, 2021, the Company announced that more than 43,000 packs of TAAT™ arrived in London as part of over CAD $1,200,000 worth of purchase orders for the United Kingdom and Ireland issued by Green Global Earth (“GGE”). In less than one calendar year, the Company has placed TAAT™ in approximately 1,200 retail stores across the United States through strategies that it intends to employ as part of its first international launches of TAAT™ in markets to include the United Kingdom.
As a non-tobacco product, TAAT™ stands to benefit from freedoms that are not afforded to products containing tobacco or nicotine. Tobacco wholesalers in the U.K. who received TAAT™ throughout October 2021 noted that in-store promotional graphics can be displayed for TAAT™ to cultivate interest in the product among smokers of legal age, whereas such advertisements would not be permitted for tobacco cigarette brands. Furthermore, being exempt from certain taxes on tobacco and nicotine products, TAAT™ can be sold at a lower price point in the United Kingdom compared to leading brands of tobacco cigarettes; an especially important consideration in the United Kingdom where the average price for a pack of tobacco cigarettes is approximately double the average price in the United States (described in the Company’s April 30, 2021 press release). Additionally, tobacco product packaging laws in the United Kingdom require tobacco cigarettes to be sold in a uniform pack design with negligible brand-identifying elements such as colours and logos; though the Company’s distribution partners in the United Kingdom have confirmed the TAAT™ packs can be sold in a substantially similar format to the standard design currently used in the United States (bearing the respective colours of each TAAT™ variety).
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Based on outcomes from the Company’s existing dialogues with tobacco wholesalers in the United Kingdom, TAAT™ intends to dispatch a full container shipment to the United Kingdom during Q4 2021, from which TAAT™ would be placed in retail points of sale to include supermarkets and convenience stores. As part of these dialogues, the Company is also forming a collection of in-store promotional graphics to include window decals, which can enable U.K. TAAT™ retailers to capitalize on their ability to promote the product to their patrons who are smokers of legal age.
TAAT™ Chief Executive Officer Setti Coscarella commented, “It is very exciting for us to be in these stages of executing the first international expansion of TAAT™. We have extensively discussed how we can be competitive in the United Kingdom based on price, pack design, and the merits of the product itself. One thing we have not gone into detail about, however, is that it appears to be much easier to launch nationwide in the United Kingdom, in the absence of the complexities of individual state and territory laws such as those commonly found in the United States. We look forward to finalizing our first international store placements with tobacco wholesalers in the United Kingdom as part of our next steps in building tobacco industry market share globally.”
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 Company’s dialogues with tobacco wholesalers, and completion of the Company’s first container shipment of TAAT™ to the United Kingdom. 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.
