As global demand for TAAT® has grown since its first U.S. launch in December 2020, the Company has engineered a variation of its Beyond Tobacco™ base material using reconstituted plant-based materials for international markets to which the current hemp-based formulation cannot be imported due to its CBD and negligible THC content. To capitalize on this global opportunity, TAAT® has filed an expedited U.S. patent covering this expanded scope of base materials in addition to proprietary integrations with smartphones and wearable technologies to assist current smokers with switching to TAAT® and observing its benefits through empirical data captured with artificial intelligence (“AI”).
LAS VEGAS and VANCOUVER, British Columbia, May 16, 2022 (GLOBE NEWSWIRE) -- TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that it has filed an expedited patent application in the United States for a refinement process of the Beyond Tobacco™ base material for TAAT® in which a broader scope of reconstituted materials containing zero hemp can be utilized to produce a nicotine-free and tobacco-free smoking experience substantially resembling that of a traditional tobacco cigarette, without any residual cannabinoids (e.g., mullein, hops, lavender, chamomile, ginseng, sage, and peppermint). While cannabis is currently permitted in several global markets, it remains illegal in most others including the majority of Asian nations1. As TAAT® sets out to capture an even greater market share in the USD $812 billion global tobacco industry, the Company has recognized the importance of making its nicotine-free and tobacco-free product saleable in a broader range of nations around the world by developing a Beyond Tobacco™ formulation using reconstituted biomass with zero hemp.
Although the Company has had dialogues with tobacco distributors in regions with high smoking incidence rates where TAAT® is expected to enjoy significant popularity as a nicotine-free alternative to cigarettes (e.g., Asia-Pacific/APAC, Middle East and North Africa/MENA, Gulf Cooperation Council/GCC member states), it cannot be sold in several key markets due to the presence of cannabidiol (“CBD”) and negligible tetrahydrocannabinol (“THC”) content in the current Beyond Tobacco™ formulation. To overcome this obstacle, the Company has experimented with numerous non-hemp plant materials with which the Beyond Tobacco™ base material can be manufactured, and TAAT® has identified specific biomass types that can be consistently sourced at a commercial scale for potential distribution in new global markets. The Company has also identified numerous benefits that are specific to these materials, which TAAT® believes could enhance the value proposition of its zero-hemp formulations.
By offering a version of TAAT® with zero CBD or THC content whatsoever in addition to the legacy Beyond Tobacco™ formulation, the Company anticipates it can considerably expand its Total Addressable Market (“TAM”).
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5f4c9f39-1d9a-4f89-b4d7-1510df74ef32
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TAAT® Founder Joe Deighan commented, “Although hemp and various cannabinoids are fundamental to the TAAT® and Beyond Tobacco™ vision with respect to the benefits they provide to adult tobacco smokers who are looking to leave nicotine behind, the use of hemp material inherently limits the global markets in which TAAT® can be sold. We are eager to enter regions such as Asia and the Middle East, where there is evident demand for a nicotine-free and tobacco-free alternative that is better than tobacco cigarettes. However, even in markets where legalization of hemp appears to be imminent at some point in the future, it can take a matter of years to actually happen. Instead of waiting around, we have spent the past several months developing a formulation of Beyond Tobacco™ using materials other than hemp that still provide a user experience nearly identical to that of smoking a tobacco cigarette. This can enable us to launch TAAT® virtually anywhere in the world, as we continue to pursue market share in the USD $812 billion global tobacco industry.”
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: Successful issuance of patents as described in the press release. 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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