The Company recently announced a TAAT® branded smokeless “heat-not-burn” offering with no tobacco or nicotine to complement its flagship combustible product. The heat-not-burn segment of the USD $812 billion global tobacco industry is becoming more prominent as a Canadian firm with a nicotine-free heat-not-burn product announced that its intellectual property was being sold to a subsidiary of Altria Group, Inc1.
LAS VEGAS and VANCOUVER, British Columbia, May 17, 2022 (GLOBE NEWSWIRE) -- TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that in anticipation of the launch of its heat-not-burn offering, the Company has released the first edition of its retail point-of-sale materials for this new product category. In a press release dated April 27, 2022, TAAT® announced that the development of its heat-not-burn offering was advancing as the Company received the first TAAT® commercial samples from its manufacturing and development partner E1011 Labs, with whom the Company will be exhibiting at the InterTabac trade show in Dortmund, Germany (September 15-17, 2022).
Major tobacco firms worldwide appear to have expressed considerable interest in smoke-free alternatives to tobacco cigarettes, which can be exemplified by Philip Morris International’s cumulative investment of USD $8.1 billion into the category since 20082. Additionally, the Canadian producer of a nicotine-free heat-not-burn product known as PODA announced in a press release issued May 13, 2022 that its intellectual property was being sold to a subsidiary of Altria Group, Inc. for USD $100.5 million (please refer to Poda Holdings, Inc.’s May 13, 2022 press release for full details). Based on this apparent sustained interest in heat-not-burn from the tobacco industry, TAAT® recognizes the importance of gaining market share as it continues to build its global brand as a leader in better alternatives to tobacco products for adult smokers globally.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f73ad2b7-fc03-4717-b204-6def09c5fdc0
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TAAT® Co-Founder Joe Deighan commented, “Building upon the success of TAAT® to date, we are confident that rolling out our heat-not-burn offering can be done fairly rapidly between our existing sales and distribution infrastructure, as well as macro-level growth of the heat-not-burn category globally. Major tobacco firms have invested heavily into developing and commercializing heat-not-burn, though the vast majority of products in this segment still contain nicotine. We have always been all about giving adult smokers the choice to go without nicotine while still enjoying the experiences they love, and as such we are thrilled to continue moving forward with launching TAAT® heat-not-burn.”
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
Joe Deighan, COO and Director
For further information, please contact:
TAAT® Investor Relations
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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 $812 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
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: Successful launch and performance of TAAT® heat-not-burn in the United States, any aspects of the intellectual property sale announced by Poda Holdings, Inc. in its May 13, 2022 press release that are not yet final as of the publication of this 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.
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