LAS VEGAS and VANCOUVER, British Columbia, Dec. 17, 2021 (GLOBE NEWSWIRE) — TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that TAAT™ is now selling in tobacco retailers across the Greater London area of the United Kingdom, primarily in the borough of Croydon. In a May 20, 2021 press release, the Company outlined the unique competitive advantages it stood to benefit from by selling TAAT™ in the United Kingdom to include a lower price point, as well as its exemption from federal U.K. laws that mandate “plain packaging” of tobacco products (i.e., TAAT™ can be sold in colourful branded packages). Moreover, TAAT™ could later capitalize on an impending market gap in the tobacco category in the United Kingdom after cigarette giant Philip Morris International announced in July 2021 that it was planning to discontinue sales of tobacco cigarettes in the country by the end of the decade1.
In October 2021, the first commercial shipment of TAAT™ arrived in the U.K., as a partial fulfillment of more than CAD $1,200,000 worth of purchase orders from Green Global Earth (“GGE”), the Company’s exclusive distributor for TAAT™ in the United Kingdom. GGE has leveraged the unique value propositions of TAAT™ to place all three varieties in at least 17 confirmed points of sale across Greater London, pending reports of additional verified retail placements. GGE has also obtained a finalized Confirmation of Registration from the National Health Service (“NHS”) for each specific variety of TAAT™, further to the initial general Confirmation of Registration issued by Public Health England in August 2021.
London-area retailers currently carrying TAAT™ are afforded a far greater degree of flexibility with respect to how the product is positioned at the point of sale for the purpose of capturing the interest of smokers of legal age in-store, compared to products that contain tobacco. Additionally, as mentholated tobacco cigarettes were made illegal in the United Kingdom in May 20202, tobacco retailers carrying TAAT™ are now able to offer their customers who are smokers of legal age an option to enjoy a substantially similar smoking experience with a menthol taste.
TAAT™ Chief Executive Officer Setti Coscarella commented, “We have been launching TAAT™ all over the United States for the past year, and we are thrilled to be executing our first international launch in the Greater London area. Similar to what we did in Ohio last December, we are focusing on specific areas of Greater London such as Croydon where GGE believes there are strategic advantages to launching TAAT™ before expanding into other regions of the United Kingdom. Something you’ll notice in many U.K. convenience stores and other tobacco retailers is that it is very common for them to advertise various products that impart a menthol taste and scent into regular cigarettes, since menthol tobacco cigarettes cannot be sold in the United Kingdom anymore. This is one aspect of the U.K. market that we are building our commercialization strategy around, as we continue executing our first launch of TAAT™ outside of the United States.”
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: Continued performance of TAAT™ at retail in stores located in the United Kingdom. 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/06863f5a-006e-4f80-bb3e-4e29a6930c12