REPEAT – Columbus Area Tobacco Wholesalers add TAAT™ to their Offerings, Broadening Representation in Ohio
LAS VEGAS and VANCOUVER, British Columbia, Jan. 08, 2021 (GLOBE NEWSWIRE) — TAAT™ LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT™”) is pleased to announce that two tobacco wholesalers in the Columbus area of Ohio are now carrying TAAT™ Original, Smooth, and Menthol among their current tobacco product offerings sold to their respective accounts in the convenience channel. Through the Company’s relationship with ADCO Distributors, Inc. (“ADCO”), its first tobacco wholesaler in Ohio, the TAAT™ product lineup has been introduced to the warehouses of other tobacco distributors in ADCO’s network including Flichia Wholesale Distributing (“Flichia”) based in the city of Columbus, OH (population 892,000) as well as JES Wholesale (“JES”) located approximately 20 miles east of Columbus. As Ohio’s capital and most populous city, Columbus is a key market in which to build a presence as the Company seeks to prompt trials of TAAT™ by legal-aged smokers in all areas of Ohio. ADCO’s network of distributors across Ohio allows it to act as a “redistributor” of products such as TAAT™ and other products in the convenience channel, which the Company is leveraging to potentially expand within Ohio more rapidly.
At this time, TAAT™ is distributed primarily in northern and eastern Ohio near metropolitan centres to include Cleveland (population 383,000), Akron (population 198,000), and Canton (70,458), where ADCO is based. The placement of TAAT™ with other wholesalers in ADCO’s network, including Flichia and JES, can potentially enable TAAT™ to be distributed more widely across the state. Between redistribution through ADCO-affiliated wholesalers and in-house initiatives to solicit interest from other tobacco distributors, the Company intends to focus on placing TAAT™ in the product offerings of additional tobacco wholesalers during present and future launches.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9cb0e827-4344-4950-bce7-30fac1664d5aStore locator map from TryTAAT (http://trytaat.com) as of January 6, 2021 with annotations showing the locations of TAAT™ wholesalers. ADCO, Flichia, and JES are each denoted by icons with the letters “A”, “F”, and “J”, respectively.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.As announced in a December 28, 2020 press release, an additional shipment of TAAT™ is set to arrive in Ohio in Q1 2021 after being shipped from the Company’s contract manufacturer. It is anticipated that as the Company adds new points of sale, introduces additional TAAT™ inventory to the Ohio market, and continues its marketing initiatives targeted towards legal-aged smokers, it can establish a robust market position in its initial market in the United States.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5a906c10-fd99-446b-8725-ad4f5d2002ceMap of Ohio divided into 14 regions showing the smoking prevalence rate of adults in each region based on 2015 data (Source: Ohio Department of Health)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™ Chief Executive Officer Setti Coscarella commented, “We are thankful that ADCO has worked with us not just as a distributor to tobacco retailers in Ohio, but also by acting as a redistributor of TAAT™ to tobacco wholesalers who could bring TAAT™ to new regions of our initial market. As TAAT™ gets sold to legal-aged smokers in more areas of Ohio, we anticipate we will be able to gather insightful data regarding how the product performs in different markets. The smoking incidence rate in the Columbus region is the second-highest in the entire state, which is why I believe it is important for other tobacco wholesalers in ADCO’s network who operate in that region to carry TAAT™. We look forward to seeing how TAAT™ performs through these wholesalers as we continue our launch efforts in the state of Ohio.”TAAT™ Chief Revenue Officer Tim Corkum commented, “Having TAAT™ carried by additional distributors is not just a positive development because it expands our representation in Ohio, it is also a vote of confidence from these tobacco wholesalers who stock leading brand-name tobacco cigarettes such as Marlboro, Camel, and Newport. Columbus itself is the 14th most populous city in the United States, with a larger population than the city of San Francisco or even the entire state of North Dakota. We have aligned our expansion initiatives in both production and distribution to enable TAAT™ to be sold in more points of sale to meet anticipated demand from legal-aged smokers.”The Company also announces that effective January 1, 2021, Mr. Kevin Ma has resigned from its Board of Directors. The Company would like to thank Mr. Ma for his time, services, and for the valuable contributions he has made during his tenure as a director.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, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.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 outcomes from TAAT™ being carried by wholesalers in ADCO’s network. 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.