LAS VEGAS and VANCOUVER, British Columbia, May 06, 2022 (GLOBE NEWSWIRE) -- TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that it is working with a tobacco distributor that has a presence in Zurich and Zug to coordinate a near-term launch of TAAT® Original, Smooth, and Menthol in Switzerland with a primary objective of capitalizing on recent changes to Switzerland’s market landscape causing tobacco brands to be prohibited from advertising in public places. Although tobacco advertising has long been banned in most Western markets, Switzerland was among the last to allow tobacco product advertisements in public spaces (e.g., on billboards, in movie theatres, and at events such as music festivals). On February 13, 2022, voters in Switzerland overwhelmingly approved legislation forbidding tobacco companies from advertising in public spaces1.
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The Company has been exploring several launch opportunities throughout Europe, particularly after finalizing the advanced formulation of Beyond Tobacco™ using reconstituted material. In a press release dated September 3, 2021, TAAT® announced that the advanced Beyond Tobacco™ formulation yielded excellent feedback from tobacco wholesalers in markets to include Germany, Poland, France, and Switzerland. Pending final regulatory approval of the TAAT® product by Swiss authorities, the Company expects Switzerland to be the first new international market to be added for TAAT® in 2022 following the pending finalization of a distribution agreement and initial purchase order. Switzerland currently has a higher adult smoking rate than the European average at 27%2; more than double the national rate of 12.5% in the United States3.
As TAAT® is a non-tobacco product, the Company benefits from an extensive range of freedoms with respect to its ability to market through public-facing media in markets where tobacco advertisements are restricted or disallowed. In the United States, TAAT® has advertised its brand as a better alternative to tobacco cigarettes through methods such as in-store displays at the point of sale, as well as sports sponsorships (e.g., a stock car racing team, the entourage of world champion boxer Floyd Mayweather). The Company intends to strategically place German-language advertisements such as the mockup shown below as part of its launch plan in Switzerland, with French-language variations for markets in western Switzerland such as Geneva, the country’s second-ranking city by population.
TAAT® Founder Joe Deighan commented, “As the tobacco industry continues to evolve, it is a major part of our playbook to jump on opportunities to do things that tobacco companies cannot do as a way for TAAT® to gain a competitive advantage. Switzerland was already a target market for a future TAAT® launch due to its relatively high adult smoking rate of 27% and its optimal location in the centre of Europe, sharing a border with five other nations. However, with Switzerland set to put an end to tobacco advertising based on a vote for new legislation last quarter, we recognized this impending change for the timely opportunity that I believe it to be. We are working closely with a Swiss tobacco distributor who is now in the final stages of obtaining government approval for TAAT® to be sold in Switzerland, and I am excited for the next steps as we continue to build out our tobacco industry footprint.”
Sources
1 - https://www.nytimes.com/2022/02/13/world/europe/switzerland-tobacco-ad-ban.html
2 - https://www.bbc.com/news/world-europe-60333336
3 - 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.
“Joe Deighan”
Joe Deighan, COO 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 $812 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
References
1 Statista: Consumer Markets - Tobacco Products
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: Approval of TAAT® and Beyond Tobacco™ by relevant authorities in Switzerland, potential launch of TAAT® in Switzerland including a potential purchase order and planned advertising campaign in public spaces, anticipated impact of tobacco advertising ban in Switzerland as voted on in February 2022. 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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