TAAT™ Global Alternatives Inc. Improves Independence and Corporate Governance with Additions to its Board of Directors
TAAT Global Alternatives Inc. (OTCQX: TOBAF) has appointed Peter Nguyen and John Martin to its Board of Directors as independent members. Effective immediately, their addition expands the Board to six directors, four being independent. Both appointees bring extensive experience in finance and capital markets. The Board aims to enhance governance and compliance measures in line with public exchange standards. The company is also pursuing a Nasdaq listing. CEO Setti Coscarella expressed optimism about TAAT's growth in the $814 billion tobacco market, highlighting its recent achievements.
- Addition of independent directors enhances governance.
- Experienced board members could improve strategic decision-making.
- Strong market presence established in Canada, the U.S., and Germany.
- Company recently upgraded to OTCQX Best Market.
- Positioned as a post-revenue company and included in the CSE Composite Index.
- Potential challenges in integrating new board members.
- Dependence on market conditions for growth in the tobacco industry.
LAS VEGAS and VANCOUVER, British Columbia, Aug. 11, 2021 (GLOBE NEWSWIRE) -- TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that it has appointed Peter Nguyen and John Martin to its Board of Directors as independent directors, effective today. Mr. Nguyen and Mr. Martin have also been appointed as audit committee members of the Company. Following their appointments, the Company’s Board of Directors will consist of six directors, four of whom are independent directors as required by leading public stock exchanges. The Company’s audit committee members are all independent directors consisting of John Cumming, John Martin, and Peter Nguyen.
Peter Nguyen is a Chartered Professional Accountant and an alumnus of the University of British Columbia. Mr. Nguyen serves as an officer and director of several publicly traded companies in a variety of industries. Mr. Nguyen has more than 10 years of experience in various financial reporting and business strategy positions and has held several senior financial positions for public and private entities where he provides assurance, corporate financing, tax, and business advisory services.
John Martin has over 35 years of international business experience, mainly in capital markets and fund management. Mr. Martin held senior positions with Royal Bank of Canada and for 10 years was Head of Capital Markets at Bank of Tokyo Mitsubishi (Switzerland). In 2002, he established CMI Credit Market Investments Sarl., an advisory firm active in distressed debt.
The Company’s Board of Directors has been diligently working to institute updated regulatory and compliance procedures with a focus on establishing and maintaining Disclosure Controls and Procedures (“DC&P”), Internal Control over Financial Reporting (“ICFR”), and other corporate governance protocols in accordance with the regulations and standards of leading public stock exchanges. The Company previously announced its application to list its common shares on the Nasdaq Capital Market in a press release dated April 23, 2021.
TAAT™ Chief Executive Officer Setti Coscarella commented, “On behalf of the Company’s Board of Directors, we are pleased to welcome Mr. Nguyen and Mr. Martin to the team, who are each bringing to the table unique expertise in public companies. TAAT™ has made considerable strides in the past year, with public market presences in good standing in Canada, the United States, and Germany. Within just nine months of being publicly listed in Canada, TAAT™ ascended to the OTCQX® Best Market in the United States. Moreover, upon becoming a ‘post-revenue’ company at the end of 2020, TAAT™ was added to the CSE Composite Index® as well as its CSE25™ subset (the 25 largest firms in Composite by market capitalization). We look forward to working with Mr. Nguyen and Mr. Martin as we continue our initiatives to build market share in the USD
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 outcomes from the addition of two new members to the Company’s Board of Directors, potential outcomes relating to the planned introduction of regulatory and compliance procedures as detailed in the press release. 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™ Global Alternatives Inc. can be found under the Company's profile on http://sedar.com.
FAQ
Who are the new board members of TAAT Global Alternatives Inc.?
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