LAS VEGAS and VANCOUVER, British Columbia, Sept. 24, 2021 (GLOBE NEWSWIRE) -- TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that its nicotine-free and tobacco-free flagship product TAAT™ is now carried in more than 1,000 retail points of sale across the United States (to include Puerto Rico) approximately ten months after TAAT™ first launched in the United States in December 2020 in Ohio. Additionally, cumulative sales of TAAT™ in the United States now exceed 600,000 packs, amounting to a total of more than twelve million sticks each representing a better choice for smokers of legal age.
In its August 17, 2021 press release, the Company announced that it had added distribution for TAAT™ in seven new U.S. states in just two months, shortly after announcing in an August 6, 2021 press release that its store count nationwide had reached approximately 500 points of sale. Less than two months later, this figure has approximately doubled with a confirmed total of more than 1,000 TAAT™ retailers following the addition of an entire 147-store chain in Michigan (announced in the Company’s August 25, 2021 press release) as well as several retailers in the southern and western regions of the United States as shown in the map below. The interactive store locator map can be accessed on TryTAAT at the following link (must be 21+ to access): https://trytaat.com/pages/sca-store-locator
In addition to the continued expansion of the market presence of TAAT™ in the United States, the Company has been planning launch initiatives in multiple overseas markets to include the United Kingdom, Ireland, and Australia. This week, the first TAAT™ shipment to fulfill purchase orders from the Company’s exclusive distributor for the U.K. and Ireland was dispatched from the TAAT™ contract manufacturer’s facility and is expected to arrive by the end of the month. Furthermore, the launch of TAAT™ in Puerto Rico could prove advantageous based on its excise tax being the highest in the United States at USD $5.10 per pack1, which can make TAAT™ an attractively priced alternative for smokers aged 21+ as a non-tobacco product. By comparison, the highest tobacco excise tax rate in the mainland U.S. is the District of Columbia at USD $4.50 per pack, with the lowest rate being in Missouri at USD $0.17 per pack, and an overall average of USD $1.91 per pack1.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/79f66c2e-372e-49ca-b7d0-7d9342849908
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TAAT™ Chief Executive Officer Setti Coscarella commented, “Our trade show exhibits have been a major catalyst for growth in the United States, as retail chain buyers and wholesalers who deal with tobacco products intuitively pick up on the value proposition of TAAT™ for smokers aged 21+ the second they step into our booth. We have had incredible velocity over the past couple of months in terms of gaining new U.S. store placements, and we could not be more excited for TAAT™ to begin hitting store shelves in the United Kingdom and Ireland as early as within the next couple of weeks with our first shipment to London currently en route.”
On behalf of the Board of Directors of the Company,
TAAT™ GLOBAL ALTERNATIVES INC.
Setti Coscarella, CEO and Director
For further information, please contact:
TAAT™ Investor Relations
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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.
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 outcomes from new store placements of TAAT™ in the United States, arrival of the first shipment of TAAT™ to the Company’s exclusive distributor for the United Kingdom and Ireland in September 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.
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