- TAAT® Prepares to Capitalize on Recently Announced Plans for a New U.S. Nicotine Rule
Jun 23, 2022
On June 21, 2022, the FDA announced plans for a proposed rule that would establish a maximum level of nicotine in cigarettes sold in the United States. With an established patent-pending nicotine-free offering that provides an experience and sensation similar to smoking a standard tobacco cigarette, TAAT® is preparing to capitalize on this anticipated shift in the tobacco category in the United States, which is valued at approximately USD $80 billion¹.
Figure 1 In an announcement dated June 21, 2022, the U.S. Food and Drug Administration announced its plans for a proposed rule to establish a maximum level of nicotine in tobacco cigarettes sold in the United States. The Company anticipates that such a rule could prove advantageous for its flagship product TAAT®, which is a nicotine-free and tobacco-free alternative to tobacco cigarettes.
LAS VEGAS and VANCOUVER, British Columbia, June 23, 2022 (GLOBE NEWSWIRE) -- TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) announces that it is taking proactive steps to capitalize on a rule which the Food and Drug Administration (“FDA”) in the United States announced plans to propose, which would establish a maximum level of nicotine in cigarettes and other combustible tobacco products (announced by the FDA on June 21, 20221). In the FDA’s announcement, the agency described the role of nicotine as an attribute of tobacco products that contributes to the addictiveness of cigarettes and that it is the “main driver of sustained use of these products [cigarettes]2”. In Q4 2020, TAAT® launched its nicotine-free and tobacco-free alternative to tobacco cigarettes in Ohio, and rapidly scaled its market position based on the product’s novel value proposition as an option for adult smokers to forego nicotine while continuing to enjoy a substantially similar “ritual” of lighting up and smoking a combustible product. As of this writing, TAAT® is sold in over 2,700 U.S. retailers including independent shops and chain stores under national banners.
Further analysis of this announcement is covered in an article in yesterday’s edition of the Wall Street Journal: https://www.wsj.com/articles/biden-administration-targets-removal-of-most-nicotine-from-cigarettes-11655842130
An anticipated outcome from the proposed rule for which the FDA announced its plans is that tobacco cigarettes in the United States would contain lower levels of nicotine. Because this would undoubtedly require the product formulation to be altered for U.S. versions of legacy tobacco products (e.g., Marlboro, Newport, Camel), it is possible that adult smokers in the United States may pursue alternatives to their preferred brands if the new formulation does not match their established tastes as a result of lower nicotine levels. The Beyond Tobacco™ base material of TAAT® has been widely regarded by adult smokers as being better than actual tobacco with “standard” nicotine content. Based on this similarity despite containing no nicotine, the Company expects TAAT® could prove to be even more attractive to U.S. adult smokers in light of the FDA’s recently announced rule that it plans to propose, seeking to “cap” nicotine levels on tobacco cigarettes sold in the United States.
Story continues
A U.S. patent is currently pending for the nicotine-free and tobacco-free Beyond Tobacco™ formulation, which is used to make TAAT® products. In an announcement dated June 21, 2022, the U.S. Food and Drug Administration announced its plans for a proposed rule to establish a maximum level of nicotine in tobacco cigarettes sold in the United States. The Company anticipates that such a rule could prove advantageous for its flagship product TAAT®, which is a nicotine-free and tobacco-free alternative to tobacco cigarettes.
In an announcement dated June 21, 2022, the U.S. Food and Drug Administration announced its plans for a proposed rule to establish a maximum level of nicotine in tobacco cigarettes sold in the United States. The Company anticipates that such a rule could prove advantageous for its flagship product TAAT®, which is a nicotine-free and tobacco-free alternative to tobacco cigarettes.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ed941322-4d5e-4331-bf42-5e529850d4e7
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® Founder Joe Deighan commented, “As a former smoker of tobacco cigarettes, I know that nicotine is the enemy. It is clear that the FDA is recognizing this, based on its plans to propose a rule to cap the amount of nicotine allowed in tobacco cigarettes sold in the United States. I expect this to cause a considerable shift in the tobacco category in the U.S., which we could capitalize on with our established offering of a nicotine-free alternative that feels substantially similar to a regular cigarette with standard levels of nicotine. We are continuing to commercialize TAAT® to build upon our existing footprint of 2,700 U.S. stores, and will be taking proactive steps to take advantage of a new rule such as this if it goes into effect.”
Sources
1 - https://www.nytimes.com/2022/06/21/health/fda-nicotine-cigarettes.html
2 - https://www.fda.gov/news-events/press-announcements/fda-announces-plans-proposed-rule-reduce-addictiveness-cigarettes-and-other-combusted-tobacco
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
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.
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 $80 million in overall net revenue in 2021, TAAT®’s facilities include a manufacturing plant in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
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 establishment of a regulation on maximum nicotine levels in cigarettes in the United States and the anticipated performance of TAAT® under such circumstances. 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.
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.
- REPEAT – TAAT® Appoints Former Altria and PMI Leader Michael Saxon as CEO
Jun 21, 2022
Image 1 Mr. Saxon, who is now Chief Executive Officer of TAAT®, served in various positions for over 20 years with Altria and PMI including heading Altria’s Corporate Venture Fund and leading PMI’s business activities as General Manager for Norway and Denmark. He has led business units with full profit and loss (P&L) responsibility ranging from USD $100 million to USD $3 billion while consistently delivering record business results
Michael Saxon, who has been appointed Chief Executive Officer of TAAT®, served in various positions for over 20 years with Altria and PMI including heading Altria’s Corporate Venture Fund and leading PMI’s business activities as General Manager for Norway and Denmark. He has led business units with full profit and loss (P&L) responsibility ranging from USD $100 million to USD $3 billion while consistently delivering record business results.
LAS VEGAS and VANCOUVER, British Columbia, June 21, 2022 (GLOBE NEWSWIRE) -- TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce the appointment of Michael Saxon, a 20-year global veteran of the tobacco industry, as the Company’s Chief Executive Officer (“CEO”) and member of its Board of Directors. Mr. Saxon has been on the TAAT® Advisory Board since late 2020 (as announced in a press release dated October 1, 2020). With considerable experience in attaining profitable market penetration for tobacco products in the United States and several international markets, Mr. Saxon is expected to be instrumental to the Company’s ability to scale the footprint of TAAT® at a global level. Former CEO Setti Coscarella will remain available to the Company as an Advisor.
Michael Saxon is an accomplished consumer products executive with over 25 years of experience growing Fortune 100 businesses in the United States, Europe, and Asia, having successfully influenced government policy and led business units with full P&L responsibility from USD $100 million to USD $3 billion while operating in different regulatory systems. His career reflects a demonstrated history of setting record income and market share results in a wide range of market conditions and succeeding in various go-to-market models, including wholesale, distributor, and DSD. He brings a strong, innovative mindset from his experience creating new products and brands and having been the catalyst for successful large-scale transformation initiatives to drive organic growth and executing M&A transactions to enter new markets. Mr. Saxon served in various positions for over 20 years with Altria Group and Philip Morris International (PMI). Most recently, he helped create Trolley Ventures, a Richmond, VA venture capital firm investing in early-stage start-ups.
Story continues Mr. Saxon, who is now Chief Executive Officer of TAAT®, served in various positions for over 20 years with Altria and PMI including heading Altria’s Corporate Venture Fund and leading PMI’s business activities as General Manager for Norway and Denmark. He has led business units with full profit and loss (P&L) responsibility ranging from USD $100 million to USD $3 billion while consistently delivering record business results
Mr. Saxon, who is now Chief Executive Officer of TAAT®, served in various positions for over 20 years with Altria and PMI including heading Altria’s Corporate Venture Fund and leading PMI’s business activities as General Manager for Norway and Denmark. He has led business units with full profit and loss (P&L) responsibility ranging from USD $100 million to USD $3 billion while consistently delivering record business results.
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.
“I’m excited to be joining the TAAT® team,” said Michael Saxon. “This is an exhilarating time in our industry, and TAAT® is positioned to be a disruptor. With about eighteen months of actual market and consumer feedback, I believe TAAT® is in an ideal position to accelerate its commercialization efforts. This will include focusing our efforts on the large and profitable USA market, while our product development team leverages their capabilities to develop other Beyond Tobacco™ products that can further disrupt the USA and other international markets. There is a tremendous market opportunity for the company, and I am eager to launch new initiatives to accelerate adult consumer adoption of TAAT®.”
Former CEO and Director Setti Coscarella stated, “It has been my pleasure to lead TAAT® through our initial years and through the pandemic. At this point, I am satisfied the company is in an excellent position to hand direction over to Mr. Saxon, and I am pleased to be continuing my participation as an Advisor.”
The Company announces that it has granted an aggregate of 1,750,000 incentive stock options (“Options”) to directors and officers. The Options have an exercise price of $0.85 per common share (each a “Share”) and are valid for a five-year period from the date of grant. 1,500,000 of the Options will vest quarterly over a period of two years from issuance, starting on the 91st day of grant. The Options were granted in accordance with the Company’s stock option plan.
In connection with Mr. Saxon’s appointment to the Board of Directors and as CEO, the Company has also granted him 1,000,000 restricted share units (“RSUs”) under the Company’s shareholder approved restricted share unit plan (the “RSU Plan”). The RSUs will vest quarterly over a period of two years from issuance, starting on the 91st day of grant and shall entitle Mr. Saxon the ability to acquire one Share of the Company underlying each such RSU by delivering a notice of acquisition to the Company in accordance with the RSU Plan. In accordance with the RSU Plan, the RSUs were priced at $0.85 based on the closing price of the Shares on the Canadian Securities Exchange (CSE) on June 17, 2022.
TAAT® hereby announces that Setti Coscarella has resigned from his positions as Chief Executive Officer and a Director of the Company, effective immediately. The Company would like to thank Mr. Coscarella for his contributions in establishing the product and brand and wishes him well in his future endeavours.
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
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.
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 $80 million in overall net revenue in 2021, TAAT®’s facilities include a manufacturing plant in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
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 appointment of Michael Saxon as the Chief Executive Officer of the Company and the transition of Setti Coscarella from his former roles as Chief Executive Officer and director to being a member of the TAAT® Board of Advisors effective immediately. 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.
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.
- TAAT® Appoints Former Altria and PMI Leader Michael Saxon as CEO
Jun 20, 2022
Image 1 Mr. Saxon, who is now Chief Executive Officer of TAAT®, served in various positions for over 20 years with Altria and PMI including heading Altria’s Corporate Venture Fund and leading PMI’s business activities as General Manager for Norway and Denmark. He has led business units with full profit and loss (P&L) responsibility ranging from USD $100 million to USD $3 billion while consistently delivering record business results
Michael Saxon, who has been appointed Chief Executive Officer of TAAT®, served in various positions for over 20 years with Altria and PMI including heading Altria’s Corporate Venture Fund and leading PMI’s business activities as General Manager for Norway and Denmark. He has led business units with full profit and loss (P&L) responsibility ranging from USD $100 million to USD $3 billion while consistently delivering record business results.
LAS VEGAS and VANCOUVER, British Columbia, June 20, 2022 (GLOBE NEWSWIRE) -- TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce the appointment of Michael Saxon, a 20-year global veteran of the tobacco industry, as the Company’s Chief Executive Officer (“CEO”) and member of its Board of Directors. Mr. Saxon has been on the TAAT® Advisory Board since late 2020 (as announced in a press release dated October 1, 2020). With considerable experience in attaining profitable market penetration for tobacco products in the United States and several international markets, Mr. Saxon is expected to be instrumental to the Company’s ability to scale the footprint of TAAT® at a global level. Former CEO Setti Coscarella will remain available to the Company as an Advisor.
Michael Saxon is an accomplished consumer products executive with over 25 years of experience growing Fortune 100 businesses in the United States, Europe, and Asia, having successfully influenced government policy and led business units with full P&L responsibility from USD $100 million to USD $3 billion while operating in different regulatory systems. His career reflects a demonstrated history of setting record income and market share results in a wide range of market conditions and succeeding in various go-to-market models, including wholesale, distributor, and DSD. He brings a strong, innovative mindset from his experience creating new products and brands and having been the catalyst for successful large-scale transformation initiatives to drive organic growth and executing M&A transactions to enter new markets. Mr. Saxon served in various positions for over 20 years with Altria Group and Philip Morris International (PMI). Most recently, he helped create Trolley Ventures, a Richmond, VA venture capital firm investing in early-stage start-ups.
Story continues Mr. Saxon, who is now Chief Executive Officer of TAAT®, served in various positions for over 20 years with Altria and PMI including heading Altria’s Corporate Venture Fund and leading PMI’s business activities as General Manager for Norway and Denmark. He has led business units with full profit and loss (P&L) responsibility ranging from USD $100 million to USD $3 billion while consistently delivering record business results
Mr. Saxon, who is now Chief Executive Officer of TAAT®, served in various positions for over 20 years with Altria and PMI including heading Altria’s Corporate Venture Fund and leading PMI’s business activities as General Manager for Norway and Denmark. He has led business units with full profit and loss (P&L) responsibility ranging from USD $100 million to USD $3 billion while consistently delivering record business results.
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.
“I’m excited to be joining the TAAT® team,” said Michael Saxon. “This is an exhilarating time in our industry, and TAAT® is positioned to be a disruptor. With about eighteen months of actual market and consumer feedback, I believe TAAT® is in an ideal position to accelerate its commercialization efforts. This will include focusing our efforts on the large and profitable USA market, while our product development team leverages their capabilities to develop other Beyond Tobacco™ products that can further disrupt the USA and other international markets. There is a tremendous market opportunity for the company, and I am eager to launch new initiatives to accelerate adult consumer adoption of TAAT®.”
Former CEO and Director Setti Coscarella stated, “It has been my pleasure to lead TAAT® through our initial years and through the pandemic. At this point, I am satisfied the company is in an excellent position to hand direction over to Mr. Saxon, and I am pleased to be continuing my participation as an Advisor.”
The Company announces that it has granted an aggregate of 1,750,000 incentive stock options (“Options”) to directors and officers. The Options have an exercise price of $0.85 per common share (each a “Share”) and are valid for a five-year period from the date of grant. 1,500,000 of the Options will vest quarterly over a period of two years from issuance, starting on the 91st day of grant. The Options were granted in accordance with the Company’s stock option plan.
In connection with Mr. Saxon’s appointment to the Board of Directors and as CEO, the Company has also granted him 1,000,000 restricted share units (“RSUs”) under the Company’s shareholder approved restricted share unit plan (the “RSU Plan”). The RSUs will vest quarterly over a period of two years from issuance, starting on the 91st day of grant and shall entitle Mr. Saxon the ability to acquire one Share of the Company underlying each such RSU by delivering a notice of acquisition to the Company in accordance with the RSU Plan. In accordance with the RSU Plan, the RSUs were priced at $0.85 based on the closing price of the Shares on the Canadian Securities Exchange (CSE) on June 17, 2022.
TAAT® hereby announces that Setti Coscarella has resigned from his positions as Chief Executive Officer and a Director of the Company, effective immediately. The Company would like to thank Mr. Coscarella for his contributions in establishing the product and brand and wishes him well in his future endeavours.
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
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.
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 $80 million in overall net revenue in 2021, TAAT®’s facilities include a manufacturing plant in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
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 appointment of Michael Saxon as the Chief Executive Officer of the Company and the transition of Setti Coscarella from his former roles as Chief Executive Officer and director to being a member of the TAAT® Board of Advisors effective immediately. 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.
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.
- TAAT® Named First Member of E1011 Labs’ Pilot Partnership Program
Jun 17, 2022
Figure 1 E1011 Labs’ “elon®” device is pictured with prototype packaging for the TAAT® heatable sticks alongside a USD $1.00 banknote to demonstrate scale. The Company is the first participant in E1011 Labs’ P3 program, as announced in a press release dated July 14, 2022.
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 42% of whom were attending from abroad1.
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
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.
Story continues
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 $812 billion global tobacco category.”
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
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.
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 $80 million in overall net revenue in 2021, TAAT®’s facilities include a manufacturing plant in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
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.
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.
