LAS VEGAS and VANCOUVER, British Columbia, Aug. 25, 2021 (GLOBE NEWSWIRE) — TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that an operator of a Michigan tobacco store chain, with whom the Company began a dialogue at a recent trade show, placed an initial purchase order of TAAT™ on July 22, 2021 and has confirmed a 100% placement rate of TAAT™ in its 147 points of sale across the state of Michigan. With hundreds of TAAT™ retailers in Ohio in addition to a growing footprint in the greater Chicago area of Illinois, the addition of these Michigan stores further strengthens the presence of TAAT™ in the Great Lakes region of the United States.
In a press release dated August 17, 2021, the Company announced that it added distribution of TAAT™ in seven new U.S. states in just a two-month period, demonstrating strong growth of TAAT™ in the United States while simultaneously preparing for its first international launches following a CAD $1,075,000 purchase order from its U.K. and Ireland wholesaler announced in an August 20, 2021 press release. Although TAAT™ is now sold in the convenience outlets of several gas stations under national and global banners, this is the Company’s first chain-wide placement with a retailer who has 100 or more stores. A full listing of all TAAT™ points of sale in the United States can be seen on the TryTAAT store locator: https://trytaat.com/pages/sca-store-locator
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/af392c7f-96c3-43a3-93c2-b3ada08502b1
After a Michigan tobacco retailer with 147 stores added TAAT™ to all of its locations, the Company now has several points of sale across states in the Great Lakes region to include Ohio and Illinois. TAAT™ is also being commercialized in the southeastern United States and will soon be launching in the United Kingdom and Ireland.
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.
With a population of nearly ten million, smokers aged 21+ in Michigan pay an average of USD $7.67 per pack of tobacco cigarettes, which is higher than the national average retail price per pack1. By introducing TAAT™ to Michigan through an established tobacco retailer with a statewide presence, the Company is able to benefit from greater visibility into performance metrics such as reorder rates by region. Stores carrying TAAT™ in Michigan currently include locations in the Upper Peninsula area, where the percentage of adults who smoke cigarettes has historically been higher than the overall state average2.
TAAT™ Chief Executive Officer Setti Coscarella commented, “Retail chains are an important element of distribution strategies in the tobacco category for a number of reasons. It’s not just about the number of stores your product line can get into, it’s also because a chain’s management can efficiently facilitate in-store merchandising standards and activation tactics. When a smoker aged 21+ walks into a tobacco shop, they tend to already know which brand of tobacco cigarettes they want to buy. Our objective is to prompt them to buy TAAT™ instead, though this conversion is something that occurs at the store level in a matter of seconds, and must be planned out meticulously in order to be successful. Although we have been effective in creating in-store activation protocols for independent tobacco retailers, this tends to be much easier to do with chain retailers who already have the infrastructure to institute and supervise these types of procedures in each of their stores. We are pleased to have made such a rapid entry into the state of Michigan, where we are aiming to make TAAT™ well-known as a better alternative to tobacco cigarettes.”
1 – https://www.tobaccofreekids.org/assets/factsheets/0202.pdf
2 – http://didhd.org/docs_healthstats/cigarette.htm
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.
1 British American Tobacco – The Global Market
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 TAAT™ being carried in all 147 stores of a tobacco retailer in Michigan. 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.