“One Pack of TAAT™, Please!”: TAAT™ Performs Positively in First Week of Retail Sales to Legal-Aged Smokers in Ohio
After an order for more than CAD $150,000 of TAAT™ Original, Smooth, and Menthol arrived in Ohio on Friday December 11, 2020, the Company’s distributors in Ohio have begun fulfilling pre-orders of TAAT™ from tobacco retailer accounts. As this order has been paid for in full, the Company is now “post-revenue”. In the first week of availability at retail, legal-aged smokers who have purchased TAAT™ in Ohio have provided positive feedback about the product, many highlighting the similar taste and smoking experience to a tobacco cigarette. The Company has also added a Store Locator feature to its TryTAAT landing page, which will be updated as its wholesalers place TAAT™ in additional stores on their respective distribution routes.
LAS VEGAS and VANCOUVER, British Columbia, Dec. 17, 2020 (GLOBE NEWSWIRE) — TAAT™ LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT™”) is pleased to announce that its flagship product TAAT™ is now available for purchase by legal-aged smokers in Ohio at numerous tobacco retail stores across the state. In a press release dated December 11, 2020, the Company announced that an order of TAAT™ invoiced at over CAD $150,000, which has been paid for in full, had arrived at a distributor’s warehouse in Ohio. This shipment of TAAT™, which contains master cases of the product in its Original, Smooth, and Menthol varieties, is now being delivered to tobacco retailers across Ohio through distributors’ established routing paths. Distributors continue to fill pre-orders of TAAT™ from Ohio-based tobacco retailers, in addition to engaging with other tobacco retailer accounts who could be interested in potentially carrying TAAT™. Further, the Company has sustained its sales efforts throughout the state of Ohio to procure additional points of sale for TAAT™ as it seeks to gain market share in the tobacco industry.Legal-aged smokers who used TAAT™ for the first time after purchasing the product in Ohio this week have provided positive feedback regarding the experience of smoking TAAT™, noting the similar taste to a tobacco cigarette, despite TAAT™ containing no tobacco. Operators of stores currently carrying TAAT™ in Ohio have stated that their customers are demonstrating enthusiasm towards TAAT™ as an innovative alternative to smoking tobacco cigarettes. All three varieties of TAAT™ are sold at retail in Ohio for USD $3.99 per 20-stick pack, with a limited-time “Buy one, get one” promotion allowing any legal-aged smoker who purchases a pack of TAAT™ to receive a second pack at no extra cost.As deliveries of TAAT™ continue throughout the state of Ohio, the Company intends to strengthen its in-store presence through the strategic placement of new in-store graphics and pricing displays designed to align with promotional signage used by incumbent brands of tobacco cigarettes. The Company has also added a Store Locator feature to its TryTAAT landing page (pictured below), which will be updated on a regular basis as more points of sale are added, assisting legal-aged smokers in locating tobacco retailers in Ohio that are currently carrying TAAT™.The Store Locator feature can be accessed on the TryTAAT website by clicking on this link: https://trytaat.com/store-locator/A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e6ea1a94-126a-410d-8d2d-f0a7c9a142abReaders 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.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3c8803e0-7891-4173-82cd-1f66af97645eReaders 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.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/39e368eb-0d9b-4e88-913c-760f2867e57cReaders 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.“I am very excited for TAAT™ to be a post-revenue company, now that our first six-figure order has been paid for and the product is on the shelves of stores in Ohio”, said Setti Coscarella, Chief Executive Officer of the Company. “We are thankful for all of the hard work by our management and the TAAT™ production team in Las Vegas to bring TAAT™ from a prototype in Spring 2020 to being manufactured at a commercial scale and on the shelves of tobacco retailers in Ohio just a matter of months later. I believe this is a testament to the dedication of everybody involved with a shared objective of creating a viable product that can compete against the offerings of ‘Big Tobacco’ firms, allowing legal-aged smokers to keep the experiences they enjoy while leaving nicotine behind.”TAAT™ Chief Revenue Officer Tim Corkum said, “The placement of TAAT™ on the shelves of tobacco retailers in Ohio is not only an accomplishment in and of itself, it is also a brilliant opportunity for us to gather empirical consumer data which could help to guide us in making business decisions as the launch of TAAT™ continues in the United States. Early-stage retailers of TAAT™ in Ohio have provided excellent anecdotes about the product’s positive reception among legal-aged smokers. Between our distributors, our Key Accounts Manager in Ohio, and the TAAT™ management team, we have been dedicated to planning and executing this launch in an effort to make it a success. We have achieved great momentum so far, and I believe that momentum can be carried into the new year as we work towards our objective of capturing market share in the USD $814 billion global tobacco industry.”On behalf of the Board of Directors of the Company,TAAT™ LIFESTYLE & WELLNESS LTD.“Setti Coscarella”Setti Coscarella, CEO and DirectorFor further information, please contact:TAAT™ Investor Relations
[email protected]THE CANADIAN SECURITIES EXCHANGE (CSE) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.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™ is launching 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.References1British American Tobacco – The Global MarketForward-Looking StatementsThis 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 placement and performance of TAAT™ in additional tobacco retailers in Ohio. 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 FirmsDisclosures relating to investor relations firms retained by TAAT™ Lifestyle & Wellness Ltd. can be found under the Company’s profile on http://sedar.com.