LAS VEGAS and VANCOUVER, British Columbia, Aug. 27, 2021 (GLOBE NEWSWIRE) -- TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that Green Global Earth (“GGE”), the exclusive TAAT™ distributor for the U.K. and Ireland who recently placed a CAD $1,075,000 purchase order in addition to its previous CAD $149,000 order as announced in the Company’s August 20, 2021 press release, has issued an additional purchase order for €360,000 (approximately CAD $536,000) for a full shipping container of TAAT™ to be distributed in Australia. Last year, the Company proactively applied for trademarks in Australia as well as dozens of international jurisdictions as described in a press release dated December 31, 2020.
With Australia having the highest average price of a tobacco cigarette pack in the world (the equivalent of USD $25.12 for a 20-pack of Marlboro, compared to USD $8.00 in the United States1), the Company has long contemplated launching TAAT™ in this market to capitalize on its competitive price point as a non-tobacco product. Current estimates indicate that TAAT™ will retail for approximately 30% less than tobacco cigarettes in Australia. TAAT™ could also gain a competitive advantage in Australia from its ability to be sold in branded packaging, as Australian law requires tobacco cigarettes to be sold in “plain packaging”. Because Australia was the first country in the world to impose plain packaging requirements based on a 2011 law2, the Company believes the colourful TAAT™ packs can be especially eye-catching for smokers of legal age in Australia who have become accustomed to the uniform appearance of “plain packaging” for tobacco cigarettes.
At this time, the Company and GGE are in the process of finalizing certain elements of the launch plan for TAAT™ in Australia (e.g., taxation, compliant packaging, legal considerations in each state and territory). In the event that GGE’s initial supply of TAAT™ for the U.K. and Ireland approaches depletion before the Australia launch plans are approved, GGE intends to allocate the Australian container order for distribution in the U.K. and Ireland.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ec6bf5a6-27f9-4b82-849e-78ac0e0553f2
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TAAT™ Chief Executive Officer Setti Coscarella commented, “The global interest in TAAT™ from smokers of legal age grows daily, and this Australian opportunity is a testament to that popularity. Australia has been of interest to us as a potential expansion market for TAAT™ for some time now. A major reason for this is our ability to sell TAAT™ in most markets for significantly less than the price of tobacco cigarettes. This will have a larger impact in a market where smokers of legal age pay more per pack than anywhere else in the world. There have been several successive increases to tobacco cigarette prices in Australia in recent years, and we believe that in addition to providing a cost savings, TAAT™ can prove to be a better alternative to tobacco cigarettes for smokers of legal age who aspire to leave nicotine behind. We are very impressed with GGE’s ability to generate interest in TAAT™ in multiple markets globally, which can put TAAT™ in its third continent since it was first launched in Ohio at the end of 2020.”
Sources
1 - https://www.statista.com/chart/15293/price-for-cigarettes-per-country/
2 - https://tobaccotactics.org/wiki/plain-packaging-in-australia/
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@taatglobal.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 GGE’s purchase order for a container of TAAT™, pending confirmation of the legal status of TAAT™ in the states and territories of Australia as a hemp product containing cannabidiol (“CBD”), possible allocation strategies for the Australian container order based on outcomes relating to the prerequisites for launching TAAT™ in Australia. 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.
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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.
