LAS VEGAS and VANCOUVER, British Columbia, Dec. 03, 2021 (GLOBE NEWSWIRE) -- TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that TAAT™ Original, Smooth, and Menthol will be sold in 350 retail stores in the state of Virginia (population 8.5 million1, with a 14% cigarette use rate among adults2) in addition to its existing stores in Richmond, VA. This placement was obtained through the Company’s relationship with a national convenience distributor, who has guaranteed a countertop placement of TAAT™ displays near point-of-sale stations in each store. After initially launching TAAT™ in Ohio in December 2020, the Company has added stores in other regions of the United States including markets near Ohio in the country’s northeastern region such as Michigan, West Virginia, and Pennsylvania, in which the established presence of TAAT™ appears to be a growth catalyst.
In approximately one year, TAAT™ has scaled its footprint from a single contained “test market” area of northern Ohio to a nationwide presence in over two dozen states, as well as U.S. territories to include Puerto Rico and Guam. The Company has leveraged existing demand for TAAT™ from smokers aged 21+ by proactively forming relationships with wholesalers who service common retailers of tobacco products such as liquor and convenience stores. As distributors of TAAT™ continue to receive repeat orders from their accounts, the Company has undertaken strategic regional efforts to capitalize on growing momentum. Following the addition of these 350 new stores in Virginia, the Company is seeking to further expand its base of retailers on the east coast of the United States, complementing its strong existing presence in the state of Georgia.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6be1b6fc-57de-4779-9ba6-53871210ae4d
The Company has shipped 350 pre-filled TAAT™ displays containing all three varieties of “Original”, “Smooth”, and “Menthol” for placements in 350 new retail points of sale in the U.S. state of Virginia, where TAAT™ already has a presence in the city of Richmond
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TAAT™ Chief Executive Officer Setti Coscarella commented, “Now that we have had the opportunity to benefit from observations made during our launches of TAAT™ in several markets across the United States, we have managed to reduce our lead times with respect to coordinating and executing launches with new distributors. TAAT™ has been sold in Ohio for nearly one year, which has enabled us to passively build our footprint in nearby states through organic growth. Although TAAT™ is already sold in Virginia, one of our national wholesale partners was able to line up 350 additional retailers, with whom we are also guaranteed a ‘prime’ countertop placement of TAAT™ displays in all stores; a tactic that has already proven quite effective in capturing the attention of smokers aged 21+ at the point of sale. We look forward to seeing how TAAT™ performs in these new stores, representing our latest launch in the northeastern United States.”
Sources
1 - https://www.census.gov/quickfacts/VA
2 - https://www.cdc.gov/statesystem/cigaretteuseadult.html
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: Arrival of TAAT™ shipment to 350 new stores in Virginia. 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.
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