LAS VEGAS and VANCOUVER, British Columbia , Dec. 11, 2020 (GLOBE NEWSWIRE) — TAAT™ LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT™”) is pleased to announce that on the morning of Friday December 11, 2020, a shipment of TAAT™ arrived at the Canton, Ohio warehouse of ADCO Distributors, Inc. (“ADCO”), the Company’s first distributor in its launch market, as announced in a press release dated October 6, 2020. It is intended for ADCO to use this inventory to fill orders for TAAT™ from tobacco retailer accounts in the convenience channel who have placed pre-orders for TAAT™ as part of its launch in Ohio this quarter. On October 6, 2020, ADCO placed an order for an initial supply of each variety of TAAT™ (Original, Smooth, and Menthol), which was invoiced at over CAD $150,000 inclusive of freight to Ohio. All product from this order will be placed on ADCO’s “pick line” among other tobacco category products carried by ADCO (e.g., Marlboro, Newport, Camel). Based on standard routing schedules, beginning next week TAAT™ is to be delivered to ADCO accounts that have ordered TAAT™ alongside their order of tobacco cigarettes for the week. In addition to confirmed pre-orders from independent and chain retailers of tobacco, several of ADCO’s accounts have indicated an intent to order TAAT™ upon arrival of the first shipment to Ohio.
In October 2020 the Company announced that it would be launching TAAT™, its flagship product, in Ohio as its initial market in the United States. Initial launch activities included the rollout of a large-scale digital marketing campaign targeting legal-aged smokers in Ohio and sales efforts coordinated by a Key Accounts Manager with more than a decade of sales experience with one of the world’s largest tobacco companies. As shown in the Company’s November 20, 2020 press release, in-store promotional graphics for TAAT™ were placed in select locations of tobacco retailers who will be carrying TAAT™. Additionally, thousands of sample requests for TAAT™ have been submitted on the TryTAAT landing page (http://trytaat.com). All three varieties of TAAT™ initially sold in its launch market will feature a limited-time “Buy one, get one” or “BOGO” offer, allowing for lengthier trials of the product at no extra cost to the consumer.
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The Company is presently continuing its marketing and sales initiatives for TAAT™ in the state of Ohio, and it intends to gather feedback from early-stage users of TAAT™ to ensure it is optimally positioned to capture the interest of legal-aged smokers. As a result of additional funds availed to the Company through the voluntary exercise of 4,992,308 common share purchase warrants announced in a press release dated Friday December 11, 2020, TAAT™ will be able to enhance its marketing and sales initiatives both in Ohio and potentially in other markets to which it may expand at a later date.
TAAT™ Chief Revenue Officer Tim Corkum commented, “During my time in tobacco in which I was part of commercialization efforts for more than a dozen new products, bringing a new tobacco product to market often took approximately nine months and a team of about 50 people, even with existing corporate infrastructure and relationships with distributors. It was exactly four months ago that I joined the Company to lead commercialization efforts for TAAT™ in the United States, and I consider it an incredible accomplishment for us to have taken the product from its first iteration to being retail-ready and in a distributor’s warehouse in that short of a period without any of the advantages that an established tobacco industry firm would have. This has been a very exciting journey in which we have had an active role in building the TAAT™ brand image, coordinating distribution, and driving engagement through our ongoing digital marketing campaign. Our rapid timeline for getting TAAT™ to market is not just a reflection of our team’s exceptional capabilities, it is also a testament to the TAAT™ product itself and how eager legal-aged smokers around the world are to try this novel approach to keeping the experiences they love while leaving nicotine behind.”
Pat Bell, Chief Operating Officer of ADCO commented, “We are thrilled to be receiving the first distribution-scale batch of TAAT™ right on schedule, so that we can begin filling pre-orders from our tobacco retailer accounts across the state of Ohio. Additionally, we have received numerous requests from retailers who wish to place an order for TAAT™ upon the arrival of the first shipment to our warehouse, which we anticipate could lead to even more orders of TAAT™. For a product that is not yet sold at retail, I am very impressed with the amount of interest that TAAT™ has managed to garner over the past few months. We hope to play a role in sustaining that enthusiasm as we help to distribute TAAT™ in its launch market as an innovative alternative to tobacco cigarettes.”
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
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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™ is launching 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 arrival of TAAT™ at ADCO’s warehouse in Ohio. 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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