LAS VEGAS and VANCOUVER, British Columbia, June 25, 2021 (GLOBE NEWSWIRE) — TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that Peach State Distributor (“PSD”), a wholesaler based in Alpharetta, Georgia, has completely pre-sold its initial purchase order of 15 TAAT™ master cases as part of an initiative to test the state of Georgia (population 10.62 million) as the next potential market for a full-scale launch of TAAT™ as an alternative to tobacco cigarettes. The shipment, which arrived in Alpharetta on Thursday, June 24, 2021, will be allocated for distribution to PSD’s retailer accounts in Georgia and North Carolina, who will become the first official retailers of TAAT™ on the east coast of the United States. These retail placements will complement the existing presence of TAAT™ in more than 250 retailers in the state of Ohio, in addition to the Company’s e-commerce portal which has been selling TAAT™ since February 2021 and avails the product to the majority of smokers aged 21+ in the United States.
PSD is a division of Forte International Spirits Direct Distributing, which carries regional specialty brands of liquor and liqueur such as Jaan, Five O’Clock, Zapata, and Tennessee Crown. Operating on a direct-to-store delivery (“DSD”) basis, PSD carries a variety of convenience category products to include beverages, snacks, and specialty lifestyle goods. PSD distributes to approximately 1,200 retail stores including 800 convenience stores as well as liquor stores and independent chains of “cash-and-carry” markets, many of which already carry tobacco products. Approximately 90% of PSD’s accounts are located in the state of Georgia, though it also services retailers in North Carolina, South Carolina, and Alabama.
More than 1.2 million adults in Georgia are tobacco smokers, representing approximately 17.4% of the state’s adult population1. As of mid-June 2021, demand for TAAT™ from smokers aged 21+ in Georgia has proven strong despite there having been no targeted marketing or promotional efforts in the state. E-commerce orders and free sample pack requests to Georgia shipping addresses amounted to approximately 14% and 20% of the number of orders and sample pack requests to addresses in Ohio, indicating robust existing demand for and awareness of TAAT™ in Georgia even without regional promotion prior to its introduction to the state at retail.
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The initial shipment of TAAT™ to PSD, a distributor in Alpharetta, Georgia who services over 1,200 points of sale in GA and neighbouring states, was completely sold out even before arriving at PSD’s warehouse earlier this week. Upcoming store placements of TAAT™ throughout Georgia will stand to complement existing retail points of sale in Ohio as well as in Illinois.
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To maximize the performance of launch initiatives conducted through PSD, TAAT™ plans to deploy a dedicated in-house representative based in Georgia, who will work directly with PSD and their retail accounts at a local level to supervise the early-stage commercialization of TAAT™ Original, Smooth, and Menthol. Applications for this position are currently being considered. Candidates may inquire to [email protected] to request a detailed job description and an overview of applicant requirements.
Paul Duffy, Director of Sales for PSD commented, “Many of our existing product offerings are strategic alternative choices for consumers who are seeking to forego certain ingredients that are common in mainstream products (e.g., sugar in soda). As such, TAAT™ is a natural fit for our product portfolio as an innovative alternative to tobacco cigarettes which contain no nicotine or tobacco. It turns out our perception was correct, as the entire order of 15 master cases sold out before the shipment even arrived through pre-sales to retailer accounts in Georgia as well as a few in North Carolina. We look forward to hearing about how TAAT™ performed in their stores, and hope that such performance foreshadows sustained demand for TAAT™ in our markets on the east coast of the United States.”
Setti Coscarella, CEO of TAAT™ commented, “As we continue to build a brand in the USD $814 billion global tobacco industry, we have attracted the attention of several distributors across the country through both cold approaches and warm referrals from existing business relationships. We chose Georgia as the next market in which we will officially launch TAAT™ for several strategic reasons, one of which is PSD’s impressive ability to lead commercialization efforts for emerging alternative products similar to TAAT™. Further, in addition to the fact that Georgia and Ohio have about the same population size, both states share borders with five other states. Just as launching TAAT™ in Ohio made the product accessible to smokers aged 21+ in the bordering states of Michigan, Indiana, Kentucky, Pennsylvania, and West Virginia, launching TAAT™ in Georgia provides similar opportunities in Florida, North Carolina, South Carolina, Tennessee, and Alabama. TAAT™ has only been available for purchase at retail for about 200 days now, and retailers in our second expansion market have already bought out 100% of our first shipment to our initial distributor before it even arrived. I believe this is a very positive indicator of our potential as we seek to widen our footprint in the United States this year.”
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 PSD’s distribution of TAAT™ in Georgia, North Carolina, South Carolina, and Alabama. 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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