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“Sneak Peek”: Taat Reveals First Placements of In-Store Graphics in Select Locations of Ohio Tobacco Retailers

LAS VEGAS and VANCOUVER, British Columbia, Nov. 20, 2020 (GLOBE NEWSWIRE) — TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) ( TOBAF) (FRANKFURT: 2TP2) (the “Company” or “Taat”) is pleased to announce that it has begun placing in-store promotional graphics for Taat in select Ohio points of sale, in preparation for the official launch of Taat set to take place later this quarter. In a press release dated October 6, 2020, the Company announced it would be launching Taat, its flagship product, in the state of Ohio where it has secured distributorship with ADCO Distributors, Inc. (“ADCO”), a large Ohio tobacco wholesaler who has access to more than 5,000 tobacco points of sale in the state through direct and indirect relationships. ADCO is a distributor of tobacco products for some of the world’s largest tobacco companies to include the following:

  • Altria Group, Inc. (Parent company of several tobacco market leaders in the United States, including Philip Morris USA1, whose brands such as Marlboro had a 49.7% cigarette market share in the United States in 20192)
  • ITG Brands, LLC (Third-largest tobacco company in the United States, part of Imperial Brands PLC, brand portfolio includes Winston, Kool, Salem, and Maverick3)
  • RJ Reynolds Tobacco Company (Subsidiary of British American Tobacco, second-largest tobacco company in the United States with three of the top five cigarette brands in the United States including Newport, Camel, and Pall Mall, which in 2017 had a combined U.S. market share of 30%4)

In the Company’s October 30, 2020 press release, the rationale for choosing Ohio as Taat’s launch market was explained based on the unique merits of Ohio in comparison to other markets in the United States. Further detail was given in a video statement titled Four Reasons for Ohio, made by the Company’s Chief Executive Officer Setti Coscarella. To date, the Company has received an initial order for each of the Original, Smooth, and Menthol varieties of Taat from ADCO, its first distributor in Ohio. Further, an average of more than 100 Taat sample requests have been received per day through the Company’s TryTaat landing page (http://trytaat.com). As pre-launch interest in Taat continues to gain momentum, the Company has commenced in-store initiatives which include placing promotional materials in conspicuous areas of a given point of sale, with an objective of attracting the attention of current tobacco smokers of legal age to trial the product.

The Company has developed Beyond Tobacco™, the nicotine-free and tobacco-free base material of Taat, which is its flagship product. Engineered to closely emulate the experience of smoking a tobacco cigarette, Taat’s intended use case is to provide current tobacco smokers of legal age the choice of continuing to enjoy the experience of smoking, without consuming nicotine. Taat is being commercialized under the leadership of an executive team with considerable experience in the tobacco industry throughout North America. As of this writing, the Company is producing approximately 600 lb / 272 kg of Beyond Tobacco™ per day in its Las Vegas, NV processing facility, which is sufficient to manufacture a full pallet of 1,440 ten-pack cartons of Taat.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/88fc5953-caab-444b-a4fb-7d3ebce71f8b

Readers using news aggregation services may be unable to view the media above. Please access the Investor Relations section of the Company’s website for a version of this press release containing all published media.

Sales efforts for Taat in Ohio have been led by a Key Accounts Manager with more than a decade of sales experience for a “Big Tobacco” firm in the northeastern United States, in addition to a sales position for a well-known maker of vaping products. To provide insight regarding the Company’s sales activities in the state of Ohio, the Key Accounts Manager made a video statement summarizing all sales-related progress to date in advance of Taat’s launch. In the video statement, in-store footage is also shown to provide an example of the retail settings in which Taat is to be sold initially.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7f3e4fbd-267d-425e-9160-919e3392072f

Readers using news aggregation services may be unable to view the media above. Please access 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, “It was less than two months ago that the provisional new pack designs for Taat were released, which brought us one step closer to being ready to sell Taat at retail. In just seven weeks since then, we secured distribution through a large tobacco wholesaler in Ohio who has already placed an initial order, made trademark filings in what is now a total of 15 jurisdictions, received and processed several tons of biomass for making Beyond Tobacco™, and launched our TryTaat landing page which has seen exceptional success so far. We are now at the point at which we are beginning to set up in-store promotional graphics as part of our awareness campaign, which began with our digital marketing efforts starting at the end of October 2020. With in-store promotional materials, our objective is to make current tobacco smokers of legal age in Ohio aware of the Taat brand in a context in which they can trial the product by purchasing it on the spot. With expert tobacco category sales leadership on the ground in Ohio, I am very pleased with the progress we have made in laying the groundwork to establish a sales pipeline in our launch market. I look forward to getting into motion in Ohio as we work towards a successful launch, which I hope we can replicate in new markets both in the United States and globally.”

ADCO Chief Operating Officer Pat Bell commented, “We have been in the tobacco wholesale business in Ohio since 1960, and in my time here I have observed many trends in terms of what sells in the tobacco category in this market. Although alternatives to smoking tobacco such as vaping appear to be popular, sales volumes for tobacco cigarettes have not dropped off drastically, which suggests that current smokers of legal age ultimately continue to smoke combustible products in the long run. Taat has taken an innovative approach to closely replicating the experience of smoking a tobacco cigarette, right down to the product and packaging formats which are similar to those of existing brands of tobacco cigarettes. Our sales team has been actively securing pre-orders for Taat products. As I anticipated, reactions from retailers for this product have been overwhelmingly positive. In addition to providing distribution of Taat to tobacco retailers in Ohio, we have already established redistribution agreements with several other wholesalers who also predict Taat can sell successfully in this market. We have been working hard behind the scenes to prepare for Taat’s launch here in Ohio, and I am excited for the first batch of Taat to arrive at our warehouse so that we can get to work on processing and sending out orders.”

Sources

1 – https://www.altria.com/about-altria?src=megaspotlight

2 – https://www.philipmorrisusa.com/company/about-pm-usa

3 – https://www.itgbrands.com/about-us/

4 – https://rjrt.com/transforming-tobacco/who-we-are/

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)
[email protected]

THE CANADIAN SECURITIES EXCHANGE (CSE) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

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 is launching 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://taatusa.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: Potential effects of the Company’s in-store promotional materials placed in tobacco retail stores in Ohio. 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.

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