LAS VEGAS and VANCOUVER, British Columbia, Aug. 17, 2021 (GLOBE NEWSWIRE) -- TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that its flagship product TAAT™ has gained distribution in seven new U.S. states over the past two months. With the recent addition of Alabama, California, Florida, Michigan, and Mississippi, TAAT™ has been introduced to seven states over the past two months to include Georgia (where TAAT™ was placed in over 70 stores within weeks of launching as announced in an August 3, 2021 press release) as well as Illinois. The distribution of TAAT™ in these new markets complements the Company’s existing presence in Ohio, as well as its e-commerce operations allowing for TAAT™ to be purchased by the majority of smokers aged 21+ in the United States. Furthermore, TAAT™ is preparing for its first international launches in the United Kingdom and Ireland, pursuant to a CAD $149,000 purchase order from a wholesaler in London announced in a press release dated April 30, 2021.
The Company has been commercializing TAAT™ aggressively between its existing sales channels (both wholesale and B2C to smokers aged 21+) as well as contacts made at events such as trade shows to build distribution. In a press release dated August 6, 2021, the Company announced it had closed 68 new initial purchase orders from the trade shows at which TAAT™ was an exhibitor in late July 2021. Based on this success, TAAT™ will be exhibiting at additional trade shows in 2021 including the Andalusia Distributing Co. (“ADC”) Annual Trade Show (August 19, 2021 in Biloxi, Mississippi), ASD Market Week (August 22 to 25, 2021 in Las Vegas, Nevada), and CHAMPS East Coast (August 31 to September 2, 2021 in Atlantic City, New Jersey).
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5a2031cb-646d-41ff-b86a-b7a8c5021ed6
As of August 17, 2021, TAAT™ has confirmed distribution in seven new states (highlighted in red above), complementing its existing presence in Ohio (highlighted in green) where it is now sold in hundreds of retail stores after launching in Q4 2020. This distribution in new states also complements the Company’s existing e-commerce portal, which makes TAAT™ available to the majority of smokers aged 21+ in the United States.
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| State | Population1 | Tobacco Use Incidence Rate2 | Average Total Cost of a Tobacco Cigarette Pack3 | ||
| Alabama | 4.9 million | 19.2 | % | $ | 6.03 |
| California | 39.5 million | 11.2 | % | $ | 8.90 |
| Florida | 21.4 million | 14.5 | % | $ | 6.57 |
| Georgia | 10.6 million | 16.1 | % | $ | 5.53 |
| Illinois | 12.6 million | 15.5 | % | $ | 9.72 |
| Michigan | 9.9 million | 18.9 | % | $ | 7.67 |
| Mississippi | 2.9 million | 20.5 | % | $ | 6.12 |
The table above provides data about each of the new states in which distribution for TAAT™ was added in the past two months. Smokers aged 21+ in states with particularly high tobacco cigarette prices can benefit from the comparably lower price of TAAT™ in addition to its unique properties as a nicotine-free and tobacco-free alternative to traditional cigarettes.
TAAT™ Chief Executive Officer Setti Coscarella commented, “An unchanging fact about consumer products is that building and growing long-term market share is a marathon, not a race. From the consumer perspective, new products come and go from store shelves all the time. What the consumer does not always see is what goes on behind the scenes, which is what we have been busy with over the past several months between setting up our production infrastructure, building a wholesale distribution network, and establishing a marketing strategy to optimally position TAAT™ in front of smokers aged 21+ across the United States. We took a relatively patient approach to introducing TAAT™ to Ohio, followed by Illinois and Georgia… and now that we’ve gotten the hang of what it takes to launch in new states, we have been able to expedite the process through our new distribution partners. This has enabled us to add new distribution of TAAT™ in seven states over just two months, which I believe is a promising indicator with respect to our mission to become a brand known worldwide in the USD $814 billion global tobacco industry.”
Sources
1 - https://www.census.gov/quickfacts/fact/table/MS,MI,GA,FL,CA,AL/PST045219
2 - https://www.cdc.gov/tobacco/data_statistics/fact_sheets/adult_data/cig_smoking/index.htm
3 - https://www.tobaccofreekids.org/assets/factsheets/0202.pdf
On behalf of the Board of Directors of the Company,
TAAT™ GLOBAL ALTERNATIVES INC.
“Setti Coscarella”
Setti Coscarella, CEO and Director
For further information, please contact:
TAAT™ Investor Relations
1-833-TAAT-USA (1-833-822-8872)
investor@taatusa.com
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™ 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 $814 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
References
1 British American Tobacco - The Global Market
Forward-Looking Statements
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: Potential outcomes from the addition of new distributors of TAAT™ in the United 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.
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Disclosures relating to investor relations firms retained by TAAT™ Global Alternatives Inc. can be found under the Company's profile on http://sedar.com.
