LAS VEGAS and VANCOUVER, British Columbia, March 23, 2021 (GLOBE NEWSWIRE) — TAAT™ LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT™”) is pleased to announce that OTC Markets Group Inc. (“OTCM”), operator of financial markets for 11,000 U.S. and global securities, has confirmed that the Company has officially been upgraded from the OTCQB® Venture Market (“OTCQB”) to the OTCQX® Best Market (“OTCQX”), the highest tier of OTCM’s markets.
The OTCQX market differs from the OTCQB market in that it is intended for established firms, as opposed to early-stage firms. Issuers on the OTCQX market are held to more stringent reporting and disclosure standards, and require a professional third-party sponsor introduction. The OTCM regulations specifically exclude penny stocks, shells, and companies in bankruptcy from the OTCQX market. The Company believes that this upgrade reflects the progress it has made to date in the USD $814 billion global tobacco industry as it has launched its flagship product at retail in Ohio, as well as through online channels across the United States.
The Company has also engaged professional advisory firms to prepare for a potential future application to list its common shares on the NASDAQ market.
A complete overview of OTCQX rules for international companies can be accessed at the following link: https://www.otcmarkets.com/files/OTCQX_Rules_for_International_Companies.pdf
This upgrade is only applicable to U.S. markets and does not represent a material change to the Company or its business activities.
TAAT™ Chief Executive Officer Setti Coscarella commented, “TAAT™ was upgraded to the OTCQB market less than six months ago, and I consider it a wonderful accomplishment for us to have ascended to the OTCQX market so promptly. Our team and valued partners have worked hard for us to build market share, maintain positive relations with our investors, and form a strong reputation in the capital markets. With greater visibility afforded to investors through the mandated disclosure requirements of the OTCQX market, we anticipate that this upgrade could strengthen existing confidence in TAAT™ had by retail and institutional investors alike. We predict that with sustained performance in our first full calendar year of operations, TAAT™ can be favourably positioned to advance from the OTCQX market to NASDAQ in the United States in the near term, and we have engaged professional advisory firms to undertake preliminary steps in advance of potentially filing an application to do so.”
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.
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 potential launch of Beyond Tobacco™, in addition to the following: Potential outcomes from the Company’s common shares being upgraded from the OTCQB market to the OTCQX market in the United States. 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.