Two-Week Update: Retail Placements of TAAT™ Continue in Ohio, Production Underway for an Additional TAAT™ Shipment
LAS VEGAS and VANCOUVER, British Columbia, Dec. 28, 2020 (GLOBE NEWSWIRE) — TAAT™ LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT™”) is pleased to announce that dozens of new store placements have been confirmed as TAAT™ enters its third week of distribution in its initial market. TAAT™ has rapidly built a presence across the state of Ohio in just two weeks, primarily in the central and eastern regions. On the Company’s TryTAAT landing page (http://trytaat.com), a directory of TAAT™ retailers can be accessed, which is updated at regular intervals as store placements are reported to the Company by its wholesale partners. Legal-aged smokers who have purchased TAAT™ in Ohio have given favourable reviews of the product, highlighting the similarity of the user experience to smoking a tobacco cigarette, as well as the competitive price point of USD $3.99 per pack. The Company is also currently undertaking production of a multi-pallet shipment of TAAT™ Original, Smooth, and Menthol which is destined to arrive in Ohio early in Q1 2021.
In a press release dated December 17, 2020, the Company announced positive initial performance following the first availability of all three varieties of TAAT™ for purchase by legal-aged smokers in Ohio. After a CAD $150,000 order of TAAT™ arrived at the warehouse of an Ohio tobacco distributor in the previous week, the distributor began fulfilling pre-orders of TAAT™ placed by retail accounts in the convenience channel, which were delivered among products of incumbent cigarette brands on established routing paths.Over the past two weeks, the Company has diligently interfaced with existing TAAT™ retailers and wholesalers to provide sales support, collect feedback, and gather insights regarding the performance of TAAT™ at both the store and territory levels. As a result of these efforts, the Company anticipates steady growth of product availability in Ohio driven by tobacco wholesalers who are introducing TAAT™ to their respective customer bases of tobacco retailers. Furthermore, the Company has continued its digital and in-store promotional campaigns targeted towards legal-aged smokers in Ohio to create new awareness of the TAAT™ brand, as well as to strengthen existing awareness. The Company has individually coordinated with the management of several TAAT™ retailers to strategize optimal placements of TAAT™ promotional materials and product displays to capture the attention of legal-aged smokers. Select examples of such placements are shown in the images below.Photos accompanying this announcement are available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/13649cbf-a575-479a-93f0-296459127597https://www.globenewswire.com/NewsRoom/AttachmentNg/e11319d2-f2bc-4267-94ae-2e250286aeb7https://www.globenewswire.com/NewsRoom/AttachmentNg/025b2a97-c921-423d-90e4-c26d9b383573https://www.globenewswire.com/NewsRoom/AttachmentNg/9ee35b0b-3ac4-43c3-adf9-34f115ed0fa4Readers 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 of this writing, the Company’s contract manufacturer continues to produce all three varieties of TAAT™ using Beyond Tobacco™ base material refined by the Company in its Las Vegas, NV facility. In early Q1 2021, a second large-scale shipment of TAAT™ is set to arrive in Ohio for distribution to retailers. Inventory from current production of TAAT™ is also intended to be used to fulfill product sample requests placed by legal-aged smokers with addresses in the United States on the TryTAAT landing page (http://trytaat.com).
Setti Coscarella, Chief Executive Officer of TAAT™ commented, “I am very proud of the progress we have made so far in launching TAAT™ in the United States, starting in Ohio. Commercializing any product in the tobacco category is an iterative process with nuances that go far beyond simply placing the product on shelves. Now that the product has been sold in stores for two weeks and we are rapidly adding more points of sale across the state of Ohio, I believe we are well-positioned to keep scaling upward in terms of expanding our retail footprint and our manufacturing pipeline. As we keep working towards building market share in Ohio, I am confident that the learnings we accumulate along the way can be instrumental in developing strategies for potential launches of TAAT™ in other markets.”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
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 placement of TAAT™ in new stores in Ohio, potential distribution of new TAAT™ inventory at retail or by mail to legal-aged smokers in the United States who requested samples on the TryTAAT landing page. 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.