Development of TAAT® Heat-Not-Burn Offering Advances with Completion of First Commercial Sample Batch
LAS VEGAS and VANCOUVER, British Columbia, April 27, 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 the first batch of commercial samples for the TAAT® heat-not-burn offering to be launched in the United States by the end of 2022. In a press release dated February 18, 2022, the Company announced it had commenced the development of a TAAT® heat-not-burn device and heatable sticks to complement its flagship combustible product (a tobacco-free and nicotine-free alternative to tobacco cigarettes), which is currently sold in over 2,500 U.S. stores. Following an initial assessment of the commercial samples of the heatable TAAT® sticks, the Company is making minor adjustments to the base material used for this product category to optimally align with the latest flavour profile of TAAT® combustible products.
The TAAT® heat-not-burn offering will consist of a reusable device (pictured below) that is reverse-compatible with heated tobacco sticks offered by the Company’s competitors, as well as TAAT® heatable sticks in Original and Menthol flavours. The hardware and heatable sticks will be marketed and sold under the TAAT® brand name in the United States starting in either Q3 or Q4 2022. By providing an additional nicotine-free and tobacco-free alternative to popular tobacco products, the Company believes it can further expand its existing market share in the global tobacco industry.
Based on the popularity of heat-not-burn tobacco products in international markets, TAAT® has arranged to showcase its heat-not-burn offering as an exhibitor at the InterTabac trade show in Dortmund, Germany (September 15-17, 2022). During the 2019 InterTabac event, approximately 520 exhibitors from approximately 47 countries greeted an audience of over 13,000 attendees; approximately 42% of whom were attending from abroad1.
For more information about InterTabac, please visit the following web page: https://www.intertabac.de/en/portal/
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c24f92f4-07af-46a1-b512-9bbd773b20eb
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TAAT® Chief Executive Officer Setti Coscarella commented, “Tobacco companies have invested heavily into the development of heat-not-burn solutions for the simple reason that many adult smokers worldwide are on the lookout for something different. Although combustible products such as cigarettes remain dominant, heat-not-burn seems to have a relatively high user retention rate compared to other alternatives on the market. Based on this, we are building upon our existing footprint in the tobacco industry by creating a nicotine-free and tobacco-free offering in the heat-not-burn segment, which I believe can enhance our ability to capture market share globally. We look forward to finalizing the exact product formulation as well as its commercialization plan as we prepare to launch TAAT® heat-not-burn in 2022.”
1 – https://www.intertabac.de/en/start/
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.
1Statista: 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: Completion of further research and development work on the TAAT® heat-not-burn offering, launch of TAAT® heat-not-burn in the United States by the end of 2022, presence and potential performance of TAAT® as an exhibitor showcasing its planned heat-not-burn offering at InterTabac trade show in Germany in September 2022. 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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