TAAT™ Grows Northeastern U.S. Footprint with 350 Additional Stores in Virginia

Rhea-AI Summary

TAAT Global Alternatives Inc. (OTCQX: TOBAF) has announced the sale of its TAAT™ products in 350 additional retail stores across Virginia. This expansion, facilitated through a national distributor, positions TAAT™ for significant market penetration in a state with a population of 8.5 million and a 14% adult cigarette usage rate. Following its initial launch in Ohio, TAAT™ has successfully expanded its presence into multiple states, leveraging strategic partnerships and repeat orders from wholesalers. The company aims to continue its growth momentum on the east coast.

Positive

• Expansion into 350 new retail stores in Virginia.
• Partnership with a national convenience distributor for better visibility.
• Established presence in over two dozen U.S. states within a year.

Negative

• None.

LAS VEGAS and VANCOUVER, British Columbia, Dec. 03, 2021 (GLOBE NEWSWIRE) -- TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that TAAT™ Original, Smooth, and Menthol will be sold in 350 retail stores in the state of Virginia (population 8.5 million¹, with a 14% cigarette use rate among adults²) in addition to its existing stores in Richmond, VA. This placement was obtained through the Company’s relationship with a national convenience distributor, who has guaranteed a countertop placement of TAAT™ displays near point-of-sale stations in each store. After initially launching TAAT™ in Ohio in December 2020, the Company has added stores in other regions of the United States including markets near Ohio in the country’s northeastern region such as Michigan, West Virginia, and Pennsylvania, in which the established presence of TAAT™ appears to be a growth catalyst.

In approximately one year, TAAT™ has scaled its footprint from a single contained “test market” area of northern Ohio to a nationwide presence in over two dozen states, as well as U.S. territories to include Puerto Rico and Guam. The Company has leveraged existing demand for TAAT™ from smokers aged 21+ by proactively forming relationships with wholesalers who service common retailers of tobacco products such as liquor and convenience stores. As distributors of TAAT™ continue to receive repeat orders from their accounts, the Company has undertaken strategic regional efforts to capitalize on growing momentum. Following the addition of these 350 new stores in Virginia, the Company is seeking to further expand its base of retailers on the east coast of the United States, complementing its strong existing presence in the state of Georgia.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6be1b6fc-57de-4779-9ba6-53871210ae4d

The Company has shipped 350 pre-filled TAAT™ displays containing all three varieties of “Original”, “Smooth”, and “Menthol” for placements in 350 new retail points of sale in the U.S. state of Virginia, where TAAT™ already has a presence in the city of Richmond

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, “Now that we have had the opportunity to benefit from observations made during our launches of TAAT™ in several markets across the United States, we have managed to reduce our lead times with respect to coordinating and executing launches with new distributors. TAAT™ has been sold in Ohio for nearly one year, which has enabled us to passively build our footprint in nearby states through organic growth. Although TAAT™ is already sold in Virginia, one of our national wholesale partners was able to line up 350 additional retailers, with whom we are also guaranteed a ‘prime’ countertop placement of TAAT™ displays in all stores; a tactic that has already proven quite effective in capturing the attention of smokers aged 21+ at the point of sale. We look forward to seeing how TAAT™ performs in these new stores, representing our latest launch in the northeastern United States.”

Sources

1 - https://www.census.gov/quickfacts/VA

2 - https://www.cdc.gov/statesystem/cigaretteuseadult.html

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: Arrival of TAAT™ shipment to 350 new stores in Virginia. 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

What recent expansion did TAAT Global Alternatives announce?

TAAT Global Alternatives announced the addition of TAAT™ products in 350 new retail stores in Virginia.

How many stores is TAAT™ sold in now?

TAAT™ is now sold in over two dozen states across the U.S.

What is the significance of the Virginia market for TAAT™?

Virginia has a population of 8.5 million and a 14% adult cigarette use rate, making it a strategically important market.

Who facilitated TAAT's expansion into Virginia?

The company's expansion was facilitated through its relationship with a national convenience distributor.

What varieties of TAAT™ are being sold?

TAAT™ is available in three varieties: Original, Smooth, and Menthol.