LAS VEGAS and VANCOUVER, British Columbia, March 22, 2022 (GLOBE NEWSWIRE) — TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that as of the third week of March 2022 more than 2,500 retail stores in the United States are carrying TAAT™ Original, Smooth, and Menthol. In its January 11, 2022 press release, the Company announced that its U.S. store count had surpassed 2,000 within approximately one year of launching TAAT™ at retail in Ohio in late December 2020. Based on this recent performance, the Company has added an average of approximately 45 new U.S. stores per week in 2022. TAAT™ continues to leverage its network of distributors to further expand its store count and cultivate a strong presence at the point of sale to encourage first-time and repeat purchases of TAAT™ products in place of tobacco cigarettes.
For clarity, the current U.S. store count of at least 2,500 TAAT™ retailers does not include establishments that have purchased TAAT™ on a wholesale basis through channels that do not supply retailer account data (e.g., select distributors who choose not to report such information, “cash-and-carry” warehouses that do not capture purchaser details). As such, the Company’s overall footprint in the United States is believed to be larger than the 2,500 stores confirmed as of this week. Furthermore, in addition to brick-and-mortar retailing, the Company also distributes TAAT™ directly to consumers through its TryTAAT e-commerce platform, allowing the majority of smokers in the U.S. to order TAAT™ for home delivery. Through parallel marketing initiatives such as TAAT™ billboards being placed in select markets, TAAT™ is seeking to fortify macro-level awareness of its brand to further establish itself in the mainstream range of tobacco product offerings.
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TAAT™ Founder Joe Deighan commented, “Now that we are a proven brand in the tobacco category, retailers are far more willing to carry TAAT™ in their stores, maintain an ample supply (i.e., more than a test inventory of a few packs), and place TAAT™ in high-visibility spots for consumers to see. Although products such as TAAT™ are fairly easy to place in independent smoke shops, there are more nuances when it comes to building a presence in the convenience category, which is where the bulk of smokable products are sold. Our commercialization strategies have therefore focused on appealing to the buyers and merchandisers in the convenience channel, who understand how TAAT™ is optimally positioned relative to legacy tobacco cigarette offerings. With consumers continuing to walk into stores across the country looking for TAAT™, retailers are recognizing that it is important for our product to be placed in a prime space on their cigarette display racks. This is not just to give the customers what they want, it’s also because our retailers make significantly better profit margins on TAAT™ than they do on packs of tobacco cigarettes such as Marlboro. That is, they have a financial incentive to convert their clientele to TAAT™ because doing so will be significantly more lucrative for them in the long run. By offering a win-win all around for wholesalers, retailers, and consumers alike, TAAT™ has enjoyed continued growth of its market share as an innovative provider of a better choice for current smokers.”
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
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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 $812 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: Sustained presence of TAAT™ in retail stores in the United States, continued growth of the Company’s retail footprint. 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.
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