After July Trade Shows, TAAT™ Has Already Closed 68 New Initial Purchase Orders, Brings Total U.S. Store Count to Approx. 500
TAAT Global Alternatives Inc. (OTCQX: TOBAF) has announced the closing of 68 new initial purchase orders from trade shows in Las Vegas, significantly boosting its market presence. At The HQ Event, the company was recognized as the Best New Product. Following the trade shows, the total number of U.S. retailers carrying TAAT™ products has increased to approximately 500 from 300 in mid-July 2021. This growth comes as the company expands its facilities in Las Vegas to enhance production capacity for its Beyond Tobacco™ base material.
- Closed 68 new initial purchase orders from trade shows.
- TAAT™ recognized as Best New Product at The HQ Event.
- Increased retailer presence to approximately 500 stores from 300.
- Facility expansion will enhance production capacity.
- None.
LAS VEGAS and VANCOUVER, British Columbia, Aug. 06, 2021 (GLOBE NEWSWIRE) -- TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that independent of sales from its regular channels, the Company has closed a total of 68 new initial purchase orders from contacts established at two Las Vegas trade shows where the Company exhibited in late July 2021, with additional buyer leads currently in the pipeline. At The HQ Event, a specialty lifestyle products trade show held at Caesars Palace, votes from buyer attendees recognized TAAT™ as the Best New Product at the show, as well as the second-place winner for the Best in Show award. TAAT™ also exhibited at CHAMPS Las Vegas the following week, a significantly larger trade show with a greater emphasis on tobacco products, which sold out of exhibitor spaces well in advance of the event’s opening day. These two events were the Company’s first B2B convention appearances following the launch of TAAT™ in Q4 2020, and the Company is planning to exhibit at several additional trade shows in 2021.
In a press release dated July 16, 2021, the Company detailed its progress in setting up its new facilities in the Las Vegas, Nevada area which are set to launch this month and will considerably increase bandwidth for producing the Beyond Tobacco™ base material of TAAT™. To optimize order processing, the Company has more than tripled the size of its fulfillment station in its new facilities compared to its original site on West Post Road. The Company anticipates that it will begin to benefit from these facility expansions as more orders of TAAT™ are placed resulting from trade show leads in addition to wholesale and direct-to-consumer sales to smokers aged 21+ as part of the Company’s existing commercialization initiatives.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bb769832-9fc9-4407-9d11-09baeb0e25e6
TAAT™ Chief Executive Officer Setti Coscarella was present at the Company’s booth for the CHAMPS Las Vegas trade show from July 27 to July 30, 2021. Video footage from the trade show featuring TAAT™ can be seen by clicking here.
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.
Following these purchase orders, the total count of U.S. retailers carrying TAAT™ has grown to approximately 500 points of sale, reflecting significant short-term growth compared to approximately 300 points of sale on record as of mid-July 2021. The TAAT™ store locator map displayed below from the Company’s TryTAAT webpage (http://trytaat.com) shows a well-established retail footprint in eastern regions of the United States around urban centres to include Cincinnati (population 301,000), Columbus (population 878,000), Chicago (population 2.71 million), and Atlanta (population 488,000).
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fd4d2e15-ea23-40b4-971c-6ae69a19330b
As of early August 2021, TAAT™ is sold in approximately 500 stores in the United States, representing significant short-term growth compared to approximately 300 stores as of mid-July 2021. Through its wholesale partners, the Company has established TAAT™’s presence around urban centres such as Cincinnati, Columbus, Chicago, and Atlanta.
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, “At this time last year, I was in my first week with TAAT™ after resigning from Philip Morris International as a Lead Strategist… and not only were we still focused on perfecting TAAT™ and Beyond Tobacco™ then, there were also no trade shows or in-person events where we could introduce the product to commercialization partners before launching. Despite that limitation, we were able to place TAAT™ in hundreds of stores in multiple states, launch our e-commerce platform making TAAT™ available to the majority of U.S. smokers aged 21+, and land our first international purchase order from a wholesaler who distributes to the United Kingdom and Ireland. At the end of July, we had our first two trade show exhibits since launching TAAT™, and we are more than pleased to have closed these 68 initial purchase orders as a direct result of the connections we made at these events, many of which we expect to convert into repeat orders based on the performance of TAAT™ since its launch in Q4 2020.”
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
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 additional purchase orders from sales leads obtained at trade shows in July 2021, potential continued sales performance 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.
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.
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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.
FAQ
What significant announcements did TAAT make on August 6, 2021?
What recognition did TAAT receive at The HQ Event?
How many U.S. retailers are currently carrying TAAT products?
What is the purpose of the new facilities TAAT is establishing in Las Vegas?
