LAS VEGAS and VANCOUVER, British Columbia, July 22, 2022 (GLOBE NEWSWIRE) — TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that it has received its third reorder for TAAT® from its distributor for the United Kingdom, Green Global Earth (“GGE”). This purchase will be the second order shipped to the U.K. containing the Version III (“V3”) advanced formulation of Beyond Tobacco™; the nicotine-free and tobacco-free base material of TAAT®. It will also be the first U.K. shipment containing the menthol-flavoured version of TAAT®, which is to be sold in the United Kingdom under the name TAAT® Green. The Company plans to dispatch this shipment in approximately September 2022. GGE will support TAAT® through its retail distribution network along with consumer engagement platforms to build awareness and trial among adult smokers.
In the United Kingdom, TAAT® will be able to leverage its distinctive packaging and capitalize on the environmental pressures faced by traditional tobacco companies as well as other alternative product companies that have come under increased regulatory pressure. Of note, TAAT® has received full authorization to commercialize its product in the U.K. from the National Health Service.
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TAAT® Chief Executive Officer Michael Saxon commented, “From my international experience in the tobacco industry, I know how complex launches in new jurisdictions can be and we are excited to build upon the initial success of TAAT®, to which this third reorder from GGE is a testament. The U.K. market is highly strategic for us because of the country’s leadership in the harm reduction conversation, and we are committed to making the U.K. a strong-hold for TAAT® in Europe. We look forward to continuing to work with GGE, with an objective of bringing TAAT® to even more adult smokers in 2022 and beyond.”
GGE Chief Executive Officer John Hilton commented, “We have seen first-hand the product improvements from the first iteration of Beyond Tobacco™ to the latest formulation, and we are excited to put our full support behind TAAT® V3. With other competitive products being removed from the market for compliance reasons, we believe reorders of TAAT® such as the one to be shipped in September will allow us to expand to new geographies and major retailers across the United Kingdom.”
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
Michael Saxon, CEO and Director
For further information, please contact:
TAAT® Investor Relations
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About TAAT® Global Alternatives Inc.
TAAT® develops, manufactures, and distributes alternative products in categories such as tobacco, hemp, kratom, and other emerging CPG segments. Its flagship product is a nicotine-free/tobacco-free combustible with a patent-pending base material formulation, sold in several thousand U.S. stores. With over CAD $80 million in overall gross revenue annually, TAAT®’s facilities include an operations centre in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
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: Successful fulfillment of the reorder of TAAT® from GGE, anticipated continued performance of TAAT® in the United Kingdom, potential launches of TAAT® in other international markets in the future. 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; (iii) changes to the regulatory landscape applicable to the Company’s business; and (iv) 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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