LAS VEGAS and VANCOUVER, British Columbia, March 30, 2022 (GLOBE NEWSWIRE) — TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that it has accepted an invitation from multinational investment bank Jefferies Group (“Jefferies”) to present at the Jefferies Cannabis Summit on Thursday, June 2, 2022 (revised from the original date of Wednesday, March 2, 2022). Taking place at the InterContinental Barclay in New York City, the Jefferies Cannabis Summit is a one-day live event with global virtual attendance options in which cannabis industry players will deliver their respective corporate presentations and engage in one-on-one meetings. The Jefferies Cannabis Summit is an invitation-only event, attended exclusively by Jefferies clients who are mostly institutional equity investors. Although TAAT® is primarily positioned in the USD $812 billion global tobacco industry, its use of hemp in the tobacco-free and nicotine-free Beyond Tobacco™ base material qualifies the Company for attendance at this event.
In 2021, Jefferies initiated coverage of seven cannabis companies in the United States, placing a “Buy” rating on each, describing this as a potential “generational wealth opportunity” in a report to its clients. At the same time Jefferies estimated that the U.S. cannabis sector will grow at a 14 percent rate from 2020 to 2030. Jefferies stated that it believes a limiting factor on the valuation of U.S. cannabis companies is the lack of institutional support. By its estimations, Jefferies calculated institutional ownership of shares of U.S. cannabis companies at 4% compared to 15% for the Canadian cannabis space1.
For more information about Jefferies, please visit the following website: http://jefferies.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/58757a27-ddb9-4a3f-9e2f-c330c0f0d73f
On Thursday, June 2, 2022, TAAT® will be presenting at the Jefferies Cannabis Summit; an invitation-only event for clients of Jefferies (a multinational investment bank), who are mostly institutional equity investors. Following the delivery of the Company’s investor presentation, individual attendees can engage in one-on-one meetings with TAAT® to learn more about the Company and its journey towards capturing market share in the USD $812 billion global tobacco industry. The current version of the TAAT® investor presentation can be accessed by clicking here.
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.
TAAT® Founder Joe Deighan commented, “We are grateful that we were invited to the Jefferies Cannabis Summit in New York City, because it validates us as a prominent name in a space about which Jefferies is clearly very enthusiastic. The scope of the cannabis industry is immense, and our novel approach to leveraging hemp as a base material for a nicotine-free and tobacco-free alternative to tobacco cigarettes is a testament to just how versatile of a biomass it is. I consider this to be a very unique opportunity for us, as institutional investors comprise a significant portion of the shareholder base of major tobacco companies (e.g., over 75% of shares in Philip Morris International are held by more than 2,400 different institutions2), and putting TAAT® in front of an institutional investor audience could be extremely beneficial for us as we seek to grow and fortify our profile in the capital markets.”
1 – https://www.bnnbloomberg.ca/jefferies-initiates-coverage-on-u-s-pot-opertors-with-bullish-view-on-u-s-market-1.1626287
2 – https://finance.yahoo.com/quote/PM/holders?p=PM (data from Tuesday, March 29, 2022)
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 $812 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
1 Statista: Consumer Markets – Tobacco Products
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: Occurrence of the June 2, 2022 Jefferies Cannabis Summit event, TAAT®’s attendance of the event (whether virtually or live), potential outcomes from the Company’s presentation and presence at the Jefferies Cannabis Summit. 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.
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