LAS VEGAS and VANCOUVER, British Columbia, Nov. 29, 2021 (GLOBE NEWSWIRE) -- TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that it has become an official supplier of the H.T. Hackney Company (“H.T. Hackney”), who is one of the largest U.S. wholesale distributors with revenues of USD $3.9 billion1 and a network of more than 20,000 retail locations in 22 states2. On Monday, November 22, 2021, H.T. Hackney issued a purchase order for 168 TAAT™ countertop displays and over 1,000 cartons of TAAT™ for the initial chain-wide placement of the product in Par Mar Stores; who operates numerous points of sale in Ohio, West Virginia, and Pennsylvania including convenience stores in gas stations under national banners such as Amoco, British Petroleum (BP), Shell, and Sunoco3.
TAAT™ and H.T. Hackney are presently coordinating in-store activation strategies with an objective of converting smokers aged 21+ from purchasing tobacco cigarettes to purchasing TAAT™ Original, Smooth, or Menthol instead at Par Mar Stores. As of this writing, TAAT™ is to be on the shelves of Par Mar Stores in Ohio, West Virginia, and Pennsylvania by approximately Wednesday, December 15, 2021. Furthermore, the Company believes TAAT™ could perform especially well in Par Mar Stores located in the state of West Virginia, as this market has the highest cigarette use rate among adults in all of the United States at 23.8%4 (approximately 70% higher than the national average of 14%5).
For more information about H.T. Hackney, please visit the following web page: https://www.hthackney.com/
For more information about Par Mar Stores, please visit the following web page: https://www.parmarstores.com/
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/f7811c83-235c-4b4d-b24c-3293e09737c0
https://www.globenewswire.com/NewsRoom/AttachmentNg/80953e8a-58b3-4a06-9bda-7d32c3fc140c
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Setti Coscarella, Chief Executive Officer of TAAT™ commented, “We have been in discussions with H.T. Hackney for some time now, and we are most pleased to have signed a distribution contract with them after demonstrating the consistent product quality of TAAT™, impressive results from laboratory tests, and our ability to reliably fill large orders on a regular basis. From the beginning of our dialogue with H.T. Hackney, I knew that their team has world-class expertise in the tobacco category, which has been instrumental to their success in distributing established tobacco cigarette brands in nearly two dozen states. We are very happy about the first placement of TAAT™ in Par Mar Stores and the associated order of more than 1,000 cartons as an initial delivery. Through Par Mar Stores, TAAT™ will be introduced to the state of West Virginia for the first time, which we see as a key strategic market for TAAT™ as a nicotine-free and tobacco-free alternative to tobacco cigarettes. We look forward to seeing the initial performance of TAAT™ in Par Mar Stores beginning in December, as we work with H.T. Hackney to seek additional chain placement opportunities in its 20,000-store network.”
Sources
1 - https://www.forbes.com/companies/ht-hackney/?sh=58d4e4d05169
2 - https://www.hthackney.com/who-we-are
3 - https://www.parmarstores.com/
4 - https://www.cdc.gov/statesystem/cigaretteuseadult.html
5 - https://www.cdc.gov/tobacco/data_statistics/fact_sheets/adult_data/cig_smoking/index.htm
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: Placement of TAAT™ in Par Mar Stores (in Ohio, West Virginia, and Pennsylvania) by December 15, 2021, performance of TAAT™ at retail among smokers aged 21+. 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.
