After announcing its engagement with Texas-based CPG sales agency CROSSMARK on February 2, 2021, CROSSMARK began its early-stage initiatives to bring TAAT™ to new points of sale in Ohio last week, with an objective of complementing the product’s existing presence in the state. So far, more than three quarters of Ohio retail accounts approached by CROSSMARK have stated their interest in carrying TAAT™. In Q2 2021, CROSSMARK will be servicing more than 7,000 convenience stores in Ohio. To provide greater clarity with respect to CROSSMARK’s role in the launch of TAAT™, the Company’s Chief Executive Officer Setti Coscarella appeared in a video in which Mr. Coscarella uses layperson’s terms to explain CROSSMARK’s scope of duties and how they can create value for the Company.
LAS VEGAS and VANCOUVER, British Columbia, March 05, 2021 (GLOBE NEWSWIRE) — TAAT™ LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT™”) is pleased to announce that last week, national consumer packaged goods (“CPG”) sales agency CROSSMARK, Inc. (“CROSSMARK”) began its early-stage initiatives to bring TAAT™ to new points of sale, starting in Ohio to build upon the Company’s existing retail presence in that market. In a press release dated February 2, 2021, the Company announced its engagement with CROSSMARK, an omnichannel agency for products in the CPG category based in Texas with more than 25,000 employees. CROSSMARK, which directly services over 100,000 convenience stores across the United States, has proven successful in bringing a wide range of CPG products to mainstream retail channels including an e-cigarette product that achieved dominant market share in that subset of the tobacco category. This commencement of CROSSMARK’s initiatives coincides with the February 17, 2021 launch of the TAAT™ e-commerce portal, which made TAAT™ Original, Smooth, and Menthol available to the majority of current smokers aged 21+ in the United States.
Last week, CROSSMARK began introducing all three varieties of TAAT™ to its accounts in Ohio including wholesalers and distributors of CPG and tobacco products, key retail accounts, and individual stores with whom CROSSMARK representatives have established business relationships. In Q2 2021, CROSSMARK will service over 7,000 convenience stores in the state of Ohio. The key account manager for TAAT™ in Ohio, who has more than a decade of experience in sales for a major global tobacco firm, has been leading sales training with CROSSMARK representatives to ensure that TAAT™ is positioned optimally among incumbent tobacco category offerings with an objective of capturing the attention and interest of current smokers aged 21+ and potentially persuading them to choose TAAT™ at the point of sale instead of their typical tobacco cigarette product. Through a combination of rollouts led by CROSSMARK, continued in-house efforts conducted by TAAT™ personnel, and digital advertising campaigns designed to direct smokers aged 21+ to the TAAT™ online store, the Company anticipates that these initiatives could collectively contribute to achieving greater market penetration for TAAT™ in the USD $814 billion global tobacco industry.
In addition to introducing products such as TAAT™ to potential new accounts and providing strategies to efficiently sell the product at retail, the Company has also engaged CROSSMARK to oversee the Order to Cash (“O2C”) process on its behalf. At a high level, O2C typically involves processing purchase orders and conveying the orders to wholesalers or distribution centres for fulfillment. Although such functions could be carried out internally by the Company, large-scale CPG firms often outsource O2C to third-party firms such as CROSSMARK to obviate the need to perform these functions themselves, which can become complex with products sold in multiple jurisdictions through several different wholesalers with numerous shipping points.
TAAT™ Chief Executive Officer Setti Coscarella commented, “These are exciting times for the Company as we enter the final month of Q1 2021. Now that our product line has had the opportunity to be tested by smokers aged 21+ across Ohio with consistently positive reception, we can start to roll TAAT™ out more aggressively with the knowledge that we have a solid product formulation and commercialization playbook. Last week, CROSSMARK got to work with introducing TAAT™ to its impressive portfolio of accounts in Ohio, and more than three quarters of retailers have stated an interest in carrying TAAT™ in their stores. CROSSMARK’s efforts will run concurrently with our continued in-house sales efforts and promotions for the TAAT™ online store. We are excited to see the impact CROSSMARK will have on the overall performance of TAAT™ as we continue our push to capture additional market share in the USD $814 billion global tobacco industry.”
To provide clarity with regard to the role of a sales agency such as CROSSMARK as a service provider to a CPG firm such as TAAT™, the Company has produced a video in which its Chief Executive Officer Setti Coscarella describes the dynamics between the two firms. This video is shown below, and can also be accessed by clicking here.
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In the video shown above, TAAT™ Chief Executive Officer Setti Coscarella describes the relationship between a sales agency such as CROSSMARK and a CPG firm such as TAAT™. Last week, CROSSMARK began rolling out TAAT™ to new accounts in Ohio including wholesalers, distributors, key retail accounts, and individual stores. The video can be watched by clicking above or clicking here.
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™ Lifestyle & Wellness Ltd. also announces that it has engaged Bay Street Communications to provide investor relations services for the Company. In connection with the engagement, the Company has entered into an Investor Relations Services Agreement with Bay Street Communications, pursuant to which it will primarily be tasked with providing the following services:
Development of a strategic investor relations plan, creation of digital media (including a new investor relations website, updated presentations, and social media content), outreach to analysts/financial media/investors, managing inbound inquiries from investors.
The services agreement has a six-month minimum term with a per-month payment value of CAD $7,000.
On behalf of the Board of Directors of the Company,
TAAT™ LIFESTYLE & WELLNESS LTD.
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™ Lifestyle & Wellness Ltd.
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 potential launch of Beyond Tobacco™, in addition to the following: Potential outcomes from the commencement of CROSSMARK’s rollout of TAAT™ to its network of accounts in Ohio, potential outcomes from CROSSMARK’s management of the O2C process on behalf of the Company. 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™ Lifestyle & Wellness Ltd. can be found under the Company’s profile on http://sedar.com.