LAS VEGAS and VANCOUVER, British Columbia, Dec. 01, 2021 (GLOBE NEWSWIRE) -- TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that it has recorded its best-ever month in November 2021 with respect to sales of TAAT™ in the United States since its first retail launch in December 2020. The Company has realized gross revenues of approximately USD $460,000 (approximately CAD $585,000) in the calendar month of November 2021 from sales of TAAT™ consisting of multiple pallets sold each week, while achieving a gross margin of approximately 60%. In the same period, the Company added five new U.S. distributors and manufactured over 27.7% more cartons of TAAT™ compared to its production volume in October 2021. Furthermore, as a proactive measure to ensure there is an ample supply of base material based on current demand levels, so far in calendar Q4 2021 the Company has produced a quantity of the advanced Beyond Tobacco™ formulation (using reconstituted biomass) that is sufficient to produce more than 820,000 packs of TAAT™. As the Company has only recently started to commercialize TAAT™ in international markets, the comparative results provided are based on performance in the United States only.
TAAT™ Original, Smooth, and Menthol are now sold at retail across the United States, in addition to being sold online through the Company’s e-commerce portal which avails TAAT™ to the majority of smokers aged 21+ in the United States. In a press release dated October 22, 2021, the Company announced that the first commercial shipment of TAAT™ arrived in the United Kingdom, which along with Austria, Ireland, and Australia is one of the first international markets where the Company is undertaking launch initiatives for TAAT™. In total, the Company has added ten new U.S. distributors so far in calendar Q4 2021, reflecting the momentum TAAT™ is gaining in the tobacco category among wholesalers.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ef55bf7b-a8e8-4f19-b6a9-e40d465e33d5
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.
TAAT™ Chief Executive Officer Setti Coscarella commented, “As we approach the close of the first year in which TAAT™ began selling at retail, it is an honour to report that last month was our very best yet in just the United States, not even factoring international markets. When I joined TAAT™ last year, one thing I emphasized was the importance of building robust and efficient infrastructure for distribution and manufacturing, as these factors can significantly influence a company’s ability to be profitable when operating at a national or global scale. To achieve this, we have strategically cultivated a network of tobacco distributors across the country through our growing sales team, and we have procured a state-of-the-art industrial facility for manufacturing and warehousing commercial quantities of the Beyond Tobacco™ base material of TAAT™. These factors, among others, have enabled us to achieve record results in the month of November 2021, and we intend to continue capitalizing on these advantages as smokers aged 21+ continue to make a better choice by switching to TAAT™.”
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 future outcomes based on the Company’s performance in the United States in November 2021. 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.
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.
