TAAT® Named First Member of E1011 Labs’ Pilot Partnership Program
TAAT Global Alternatives Inc. has joined E1011 Labs’ Pilot Partnership Program (P3), advancing its entry into the heat-not-burn market. This collaboration aims to commercialize a novel tobacco-free product utilizing TAAT's proprietary Beyond Tobacco™ material. Both companies plan to showcase their partnership at the InterTabac trade show in September 2022. TAAT reported over CAD $80 million in net revenue in 2021 and aims to leverage E1011 Labs’ resources for greater market penetration in the USD $812 billion global tobacco sector.
- TAAT is the first member of E1011 Labs' P3, enhancing its market position.
- The partnership aims to commercialize a tobacco-free heat-not-burn product, expanding TAAT's product offerings.
- TAAT reported over CAD $80 million in net revenue in 2021, indicating strong financial performance.
- None.
LAS VEGAS and VANCOUVER, British Columbia , June 17, 2022 (GLOBE NEWSWIRE) -- TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that it has become the first member of E1011 Labs’ Pilot Partnership Program (“P3”), an initiative by the California-based heat-not-burn innovator to leverage the capabilities and resources of third-party firms to advance its efforts in the tobacco and tobacco-adjacent categories. In a press release dated May 17, 2022, TAAT® announced the release of its sales materials for a heat-not-burn offering made in collaboration with E1011 Labs using the Company’s proprietary and patent-pending base material Beyond Tobacco™, which contains no tobacco or nicotine. TAAT® and E1011 Labs are scheduled to host a shared booth at the InterTabac trade show in Dortmund, Germany (September 15-17, 2022). During the 2019 InterTabac event, approximately 520 exhibitors from approximately 47 countries greeted an audience of over 13,000 attendees; approximately
In its June 14, 2022 press release, E1011 Labs announced the second edition of its patented elon® combustion-free device using precision heating technology with unique features including a touchless “pause” function with which a user can suspend a session by blowing into a circular sensor. E1011 Labs stated the wide range of applications for heat-not-burn technology includes use cases in the pharmaceutical, cannabis, and tobacco categories. As the very first participant in E1011 Labs’ P3 ecosystem, TAAT® will work closely with E1011 Labs to commercialize a novel heat-not-burn option with no tobacco or nicotine.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bc7ed0e5-1528-41ab-b873-d4db268254cb
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TAAT® Founder Joe Deighan commented, “E1011 Labs is proving to be a very strong partner for us, and we are honoured to be the first in their P3 program for collaboration to advance their initiatives in the heat-not-burn space. Our primary focus is on developing, manufacturing, and commercializing our flagship combustible product, which is why E1011 Labs’ reach, R&D bandwidth, and marketing capabilities are invaluable to us as an upcoming entrant to the heat-not-burn space. We are thankful to E1011 Labs’ management for their confidence in us, and we are very excited to be working together for our respective pursuits in the USD
Sources
1 - https://www.intertabac.de/en/start/
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Joe Deighan”
Joe Deighan, COO and Director
For further information, please contact:
TAAT® Investor Relations
1-833-TAAT-USA (1-833-822-8872)
investor@taatglobal.com
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About TAAT® Global Alternatives Inc.
TAAT® develops, manufactures, and distributes alternative products in categories to include tobacco, hemp, kratom, and other emerging segments of the CPG industry. Its flagship product is a nicotine-free, tobacco-free cigarette with a patent-pending base material formulation, sold in over 2,700 U.S. stores. With over CAD
For more information, please visit http://taatglobal.com.
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 Company’s participation in E1011 Labs’ P3 initiative, and the anticipated launch of the TAAT® heat-not-burn offering in conjunction with E1011 Labs. 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; (iii) changes to the regulatory landscape applicable to the Company's business; and (iv) 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.
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