Following E-Commerce Launch, TAAT™ Sells More than CAD $50,000 of Product in 48 Hours

Rhea-AI Summary

TAAT Lifestyle & Wellness Ltd. (OTCQB: TOBAF) reports strong sales following the launch of its e-commerce portal. In just 48 hours, the company generated over CAD $50,000 in sales and attracted 5,492 new users to its online store. The average order value was approximately USD $57, with shipping to 20 U.S. states. Additionally, TAAT has expanded its retail presence in Ohio and is set to launch nationwide marketing campaigns. CEO Setti Coscarella highlighted a 233% increase in manufacturing rate, aiming to enhance the accessibility of TAAT's tobacco-free products across the U.S.

Positive

• Generated over CAD $50,000 in sales within 48 hours of e-commerce launch.
• Attracted 5,492 new users to the online store within two days.
• Expanded retail points of sale in key Ohio cities such as Cincinnati and Columbus.
• Engaged a major CPG sales agency to facilitate nationwide marketing campaigns.

Negative

• None.

LAS VEGAS and VANCOUVER, British Columbia, Feb. 19, 2021 (GLOBE NEWSWIRE) -- TAAT™ LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT™”) is pleased to announce strong sales performance following the launch of its e-commerce portal earlier this week. In addition to the launch of the TAAT™ online store, the Company has continued to add new retail points of sale for TAAT™ in the state of Ohio, as shown on the maps in this press release, with significant increases in areas to include Cincinnati (population 301,000) and Columbus (population 878,000). Additionally, nationwide campaigns led by a consumer packaged goods (“CPG”) sales agency who directly services over 100,000 convenience stores in the United States are set to begin next week and will run concurrently with marketing efforts for the TAAT™ online store.

Orders placed through the TAAT™ online store had shipping addresses in 20 different U.S. states, with an average order value of approximately USD $57.00 and an average order size of 1.7 cartons. The largest order placed through the TAAT™ online store was valued at more than USD $3,500 inclusive of sales tax. Between Wednesday February 17, 2021 and Thursday February 18, 2021 a total of 5,492 new users visited the TAAT™ online store, generating a total of 36,830 page views, 9,972 sessions, and an average session duration of two minutes and 53 seconds.

To view Picture 1 accompanying this release please visit: 
https://www.globenewswire.com/NewsRoom/AttachmentNg/20956892-1d22-477e-8c5d-69e4f57020c5

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 of 9:00 am EST on Wednesday February 17, 2021, smokers aged 21+ in eligible¹ states can now purchase cartons of TAAT™ Original, Smooth, and Menthol online through the Company’s e-commerce portal, which accepts payment methods to include Visa, Mastercard, American Express, and Discover cards. Orders of USD $80 or more qualify for free shipping to any eligible¹ state. The Company began a targeted online advertising campaign earlier this week to attract traffic to the TAAT™ online store. These online advertisements are positioned as embedded promotional content on a given website, referred to as “native advertisements” in digital marketing terminology, and are targeted towards smokers aged 21+ in the United States.

To view Picture 2 accompanying this release please visit: 
https://www.globenewswire.com/NewsRoom/AttachmentNg/b517ad64-ba0c-4783-a28c-3cf2e5a5b40b

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, “February has been a very productive month for us here at TAAT™. In addition to launching our e-commerce portal and selling over CAD $50,000 worth of TAAT™ in 48 hours, we also secured our engagement with a major CPG sales agency, landed our first mainstream nationwide media coverage in Forbes, and boosted our manufacturing rate by 233%. All of our initiatives for bringing TAAT™ to market in the United States are strategically coordinated, and I believe that e-commerce plays a significant role in providing us the opportunity to sell TAAT™ to smokers aged 21+ all across the United States while complementing our Ohio retail activities and a nationwide rollout with the CPG sales agency set to begin next week.”

Footnotes and Sources

1 - Because the legal status of TAAT™ can vary between jurisdictions, the Company can only accept and fulfil orders for TAAT™ made online with shipping addresses in jurisdictions that have been approved by the Company's legal counsel.

On behalf of the Board of Directors of the Company,

TAAT™ LIFESTYLE & WELLNESS LTD.

“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™ 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™ 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 potential launch of Beyond Tobacco™, in addition to the following: Future sales performance of TAAT™, potential performance of the CPG sales agency. 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 Firms

Disclosures relating to investor relations firms retained by TAAT™ Lifestyle & Wellness Ltd. can be found under the Company's profile on http://sedar.com.

FAQ

What were the sales figures for TAAT following the e-commerce launch?

TAAT generated over CAD $50,000 in sales within 48 hours following the launch of its e-commerce portal.

How many new users visited the TAAT online store recently?

5,492 new users visited the TAAT online store between February 17 and February 18, 2021.

What is the average order value for TAAT products sold online?

The average order value for TAAT products sold through the online store is approximately USD $57.

In which states can TAAT products be shipped?

Orders through the TAAT online store can be shipped to addresses in 20 different U.S. states.

What are the key marketing strategies of TAAT?

TAAT is implementing nationwide marketing campaigns via a major CPG sales agency and leveraging targeted online advertisements.