LAS VEGAS and VANCOUVER, British Columbia, Nov. 12, 2021 (GLOBE NEWSWIRE) — TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that it has shipped multiple pallets of TAAT™ to fill purchase orders from three California-based distributors, who each primarily serve retailers in the areas of Los Angeles (population 3.9 million), San Diego (population 1.4 million), and San Francisco (population 875,000). After successfully launching TAAT™ at retail in Ohio in Q4 2020, the Company began expanding its commercialization efforts across the United States through coordinated retail launches in new markets such as Illinois, Michigan, and Georgia, in addition to a U.S. e-commerce portal launched in February 2021 as announced in the Company’s February 12, 2021 press release. TAAT™ already has several points of sale across California (listed on the TryTAAT store locator), and the Company expects to add to this existing presence through the respective networks of its new distributors who have recently placed pallet orders for all three TAAT™ varieties.
As California is the second-largest mainland U.S. state by size and has the highest population of all U.S. states with over 39.5 million residents, the Company has determined that it must establish a robust network of distribution partners who have reach and influence in each of California’s several distinctive regions in order to build a significant market share for TAAT™ across the state. The average retail price for a pack of tobacco cigarettes in California is approximately USD $8.90, approximately 23% higher than the national average of USD $7.221. In addition to a statewide ban on flavoured tobacco products such as menthol cigarettes currently in the works2, a total of 71 localities in California have already prohibited the sale of all flavoured tobacco products3 including Los Angeles County; the largest county in the United States with over ten million residents4. Furthermore, several other California localities impose unique restrictions on tobacco product sales, such as Sonoma County which mandates a minimum sale price of USD $7.00 for a pack of cigarettes, and the city of San Francisco which caps the number of tobacco sales permits in each of the city’s 11 districts3.
The Company continues to make progress with its launch initiatives elsewhere in the United States, as well as internationally in markets such as Australia, the United Kingdom, Ireland, and Austria.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a845ca49-a396-4e63-8fff-84b8178edb20
Readers using news aggregation services may be unable to view the media above. Please access SEDAR or the Investor Relations section of the Company’s website for a version of this press release containing all published media.
TAAT™ Chief Executive Officer Setti Coscarella commented, “Launching TAAT™ in California is a significant milestone for us, as it is a unique market both in magnitude and in terms of the environment for tobacco category products such as ours. The sheer size of California’s population cannot be underestimated; more than 10% of the entire U.S. resides in California, and if it became part of the European Union it would be the fifth-largest member state with a population approximately equal to that of the Netherlands, Belgium, and Greece combined. Additionally, individual localities within California have taken some of the most aggressive approaches to regulating tobacco and nicotine products out of anywhere in the United States. For instance, in addition to its cap on tobacco sales licenses, in 2019 the city of San Francisco put an ordinance into effect banning the sale of e-cigarettes across the city; the first ban of its kind in the country5. This creates several opportunities for TAAT™ to gain market share among smokers aged 21+ throughout California, where we anticipate impressive initial results this quarter following the delivery of TAAT™ pallets fulfilling purchase orders made by distributors who service several of the state’s key markets.”
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
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.
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: Outcomes from TAAT™ purchase orders made by California-based distributors. 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.
This news release may contain trademarked names of third-party entities (or their respective offerings with trademarked names) typically in reference to (i) relationships had by the Company with such third-party entities as referred to in this release and/or (ii) client/vendor/service provider parties whose relationship with the Company is/are referred to in this release. All rights to such trademarks are reserved by their respective owners or licensees.
Statement Regarding Third-Party Investor Relations Firms
Disclosures relating to investor relations firms retained by TAAT™ Global Alternatives Inc. can be found under the Company’s profile on http://sedar.com.