LAS VEGAS and VANCOUVER, British Columbia, April 16, 2021 (GLOBE NEWSWIRE) — TAAT™ LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT™”) is pleased to announce that Worldwide Vape Distribution (“WWV”) has placed a wholesale order of TAAT™ Original, Smooth, and Menthol for delivery to its warehouse facility in Dallas, Texas valued at USD $1 million (approximately CAD $1.25 million). This order, which is to be fulfilled in batches over the course of 2021, consists of equal quantities of each TAAT™ variety packaged in the industry-standard format of master cases assembled on shipping pallets for wholesale distribution. After launching TAAT™ at retail in Ohio in Q4 2020, the Company has leveraged a statewide distribution network to place the product in tobacco points of sale, which has resulted in an average of approximately ten new store placements per week. In February 2021, the Company made TAAT™ available in other U.S. markets by launching an e-commerce portal through which the majority of smokers aged 21+ in the United States can purchase individual flavours of TAAT™ by the carton for home delivery. The Company anticipates that this wholesale order from WWV can lead to growth of TAAT™’s market footprint in its second full calendar quarter of availability at retail.
In a press release dated July 7, 2020, the Company announced WWV as its first distribution partner in the United States, with access to more than 10,000 retail stores across 38 U.S. states through direct and indirect relationships. WWV has an influential position in the category of alternatives to tobacco, representing a large portfolio of firms who manufacture hardware and supplies for electronic cigarettes. In addition to its network of retailers, WWV has an online storefront through which it carries a selection of electronic cigarette hardware and related accessories, “e-liquid” cartridges, and disposable units. Because a substantial segment of electronic cigarette users are tobacco smokers aged 21+, the Company is confident that its line of tobacco-free and nicotine-free combustible products could be aligned with the interests of the customer bases of both WWV and the retailers in its network.
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Starting this month, TAAT™ will begin to fulfill a USD $1 million / CAD $1.25 million purchase order from Dallas-based WWV, who is to distribute TAAT™ Original, Smooth, and Menthol to retailers across the United States alongside its current offerings in the tobacco alternatives category
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TAAT™ will begin to fulfill WWV’s purchase order starting in late April 2021, prioritizing different varieties based on predicted demand in each market as determined by WWV. At the option of WWV, the Company may dispatch partial shipments directly to WWV’s affiliated distributors to reduce lead times for deliveries to tobacco retailers in select regions. The Company intends to collaborate with WWV to align distribution initiatives with promotional campaigns in new markets to gain awareness of TAAT™ among smokers aged 21+.
WWV Chief Executive Officer Muhammad Abbas commented, “Even before the market-ready iteration of TAAT™ had been fully developed last summer, I saw its potential as a better alternative to a product consumed by over a billion people worldwide on a regular basis. In the vaping business, it is common for smokers aged 21+ to try electronic cigarettes as a substitute for smoking tobacco. However, we are regularly told about how they miss the sensation of igniting a cigarette, tasting and smelling the tobacco as it burns, seeing the smoke as they exhale, and flicking ashes in between drags. With our nationwide reach, we could not be more proud to place an order of this size with an objective of being one of the catalysts in distributing TAAT™ to retail stores in several new U.S. markets.”
TAAT™ Chief Executive Officer Setti Coscarella commented, “After seeding interest from smokers aged 21+ for a matter of months now, we have started to notice some patterns in terms of the flow of interest from smokers asking retailers for TAAT™, who then go on to ask their respective wholesalers for the product. Although we have seen demand from all over the United States, we recognize the need to strategically identify which markets we will enter next. One prerequisite for doing so is securing distribution, and after discussions with WWV’s management team we have determined that they can get us into retailers in several of our high-priority markets. We are honoured that WWV was not only confident enough in TAAT™ for them to become our first distribution partner well in advance of the product launch, but also for them to have placed a seven-figure order of TAAT™ right at the outset of doing business. We look forward to working with WWV to grow our presence in the USD $814 billion tobacco industry as we lay the groundwork to build upon our success to date.”
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
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About Worldwide Vape Distribution
Based in Dallas, TX, Worldwide Vape Distribution (“WWV”) is a wholesaler in the electronic cigarette category with a network of over 10,000 retailers in 38 U.S. states through direct and indirect relationships. As vaping products continue to become more sophisticated, WWV continuously endeavours to curate a selection of state-of-the-art devices and accessories and vape liquid. In 2020, WWV became the first distribution partner of TAAT™ Lifestyle & Wellness Ltd., adding to its portfolio of alternatives to tobacco cigarettes.
For more information, please visit http://wwvape.com
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.
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 WWV’s distribution of TAAT™ in its network across 38 U.S. 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.
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Disclosures relating to investor relations firms retained by TAAT™ Lifestyle & Wellness Ltd. can be found under the Company’s profile on http://sedar.com.