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The Firm has partnered with CLC on an unique foundation to develop and distribute TAAT™ in Canada (inhabitants 37.59 million), the place appreciable curiosity from people who smoke aged 21+ already exists for TAAT™ regardless of no product advertising having been performed exterior of the US
LAS VEGAS and VANCOUVER, British Columbia, Feb. 26, 2021 (GLOBE NEWSWIRE) — TAAT™ LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Firm” or “TAAT™”) has entered right into a memorandum of understanding (“MOU”) dated February 24, 2021 with Christina Lake Hashish Corp. (“CLC”) (CSE: CLC) to develop and distribute TAAT™ for the Canadian market. The MOU grants CLC unique rights to develop and distribute TAAT™ in Canada for a two-year renewable time period, and gives for budgets, schedules, and contributions of each events for every stage of product improvement to be agreed upon by the use of written agreements to set out particular stipulations for every stage. After launching TAAT™ in Ohio in This fall 2020 in addition to its U.S. on-line retailer on February 17, 2021, the Firm has captured the curiosity of quite a few people who smoke aged 21+ in the US who at the moment are smoking TAAT™ versus conventional tobacco cigarettes. The Firm chosen Ohio as its preliminary marketplace for a number of strategic causes, with a principal criterion being the state’s supreme inhabitants measurement for an early-stage product launch (i.e., giant sufficient to construct significant market share, sufficiently small to comprise). Starting this week, a serious CPG gross sales company is rolling TAAT™ out to wholesaler, distributor, and retailer accounts in an effort to broaden the present footprint of TAAT™. Primarily based on the sustained success of TAAT™ in Ohio and on-line, the Firm has elected to pursue a possible growth into the Canadian tobacco business, which is valued at roughly CAD $19.1 billion1.
As a Licensed Producer underneath the Hashish Act in Canada, CLC is permitted to acquire hemp biomass from third-party growers, produce the Past Tobacco™ base materials, manufacture TAAT™ as a completed product, and distribute TAAT™ by approved wholesale and retail channels throughout Canada. The Canadian inhabitants has an almost equivalent smoking incidence price to the US at roughly 15%2, which suggests {that a} sizeable section of legal-aged people who smoke exists who might want TAAT™ over their common model of tobacco cigarettes. Moreover, the cheaper price level of TAAT™ might show interesting to legal-aged Canadian people who smoke as a result of comparatively excessive worth of tobacco cigarettes in Canada (as excessive as CAD $139.83 / USD $110.82 for a 200-stick carton in Manitoba3). Furthermore, when the Firm launched its U.S. on-line retailer earlier this month, greater than 16% of customers who visited have been from Canada, regardless of no advertising of the product having been performed exterior of the US.
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The Firm has partnered with CLC on an unique foundation to develop and distribute TAAT™ in Canada (inhabitants 37.59 million), the place appreciable curiosity from people who smoke aged 21+ already exists for TAAT™ regardless of no product advertising having been performed exterior of the US
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To develop TAAT™ for the Firm in Canada, CLC intends to supply top quality and toxin-free biomass which is suited to the best composition of the Past Tobacco™ base materials. CLC has already recognized a number of native growers who can provide these uncooked supplies for this objective.
TAAT™ Chief Govt Officer Setti Coscarella commented, “We’re very happy to have partnered with CLC, giving us the chance to deliver TAAT™ to legal-aged people who smoke in Canada, a lot of whom have proven nice enthusiasm in regards to the product. Throughout my time within the tobacco business, it was broadly identified that Canada was an exceptionally complicated area by which to do enterprise due to difficult rules. Likewise, for merchandise resembling TAAT™ which make the most of hemp, the licensing necessities regularly symbolize a barrier to entry, typically requiring merchandise to be made or distributed by a Licensed Producer resembling CLC. Now we have contemplated a number of worldwide markets to which TAAT™ might broaden first, and I imagine that Canada is the best play primarily based on the prevailing curiosity we have already got from legal-aged people who smoke throughout Canada, a optimistic relationship with CLC to develop and distribute the product on our behalf, and a market the place the inexpensive worth level of TAAT™ provides to its worth proposition as a more sensible choice.”
Sources
1 – https://www.statista.com/statistics/488752/forecasted-market-value-of-the-tobacco-industry-canada/
2 – https://www.lung.ca/lung-health/lung-info/lung-statistics/smoking-and-tobacco-statistics
3 – https://www.statista.com/statistics/449041/price-of-200-cigarettes-by-region-canada/
On behalf of the Board of Administrators of the Firm,
TAAT™ LIFESTYLE & WELLNESS LTD.
“Setti Coscarella”
Setti Coscarella, CEO and Director
For additional info, 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, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.
About TAAT™ Way of life & Wellness Ltd.
The Firm has developed TAAT™, which is a tobacco-free and nicotine-free different to conventional cigarettes provided in “Unique”, “Clean”, and “Menthol” varieties. TAAT™’s base materials is Past Tobacco™, a proprietary mix which undergoes a patent-pending refinement method inflicting its scent and style to resemble tobacco. Beneath govt management with “Huge Tobacco” pedigree, TAAT™ was launched first in the US in This fall 2020 because the Firm seeks to place itself within the $814 billion1 international tobacco business.
For extra info, please go to http://taatglobal.com.
References
1 British American Tobacco – The Global Market
Ahead-Wanting Statements
This information launch accommodates “forward-looking info” inside the that means of relevant Canadian securities laws. Typically, however not at all times, forward-looking info and knowledge might be recognized by way of phrases resembling “plans”, “expects” or “doesn’t anticipate”, “is anticipated”, “estimates”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “might”, “might”, “would”, “may” or “will” be taken, happen, or be achieved. Ahead-looking info on this information launch consists of statements concerning the potential launch of Past Tobacco™, along with the next: Potential outcomes from the Firm’s deliberate growth into Canada by its partnership with CLC. The forward-looking info displays administration’s present expectations primarily based on info presently out there and are topic to various dangers and uncertainties which will trigger outcomes to vary materially from these mentioned within the forward-looking info. Though the Firm believes that the assumptions and components utilized in getting ready the forward-looking info are cheap, undue reliance shouldn’t be positioned on such info and no assurance might be on condition that such occasions will happen within the disclosed timeframes or in any respect. Components that might trigger precise outcomes or occasions to vary materially from present expectations embrace: (i) adversarial market situations; (ii) modifications to the expansion and measurement of the tobacco markets; and (iii) different components past the management of the Firm. The Firm operates in a quickly evolving atmosphere. New danger components emerge occasionally, and it’s unimaginable for the Firm’s administration to foretell all danger components, nor can the Firm assess the influence of all components on Firm’s enterprise or the extent to which any issue, or mixture of things, might trigger precise outcomes to vary from these contained in any forward-looking info. The forward-looking info included on this information launch are made as of the date of this information launch and the Firm expressly disclaims any intention or obligation to replace or revise any forward-looking info whether or not on account of new info, future occasions or in any other case, besides as required by relevant legislation.
The statements on this information launch haven’t been evaluated by Well being Canada or the U.S. Meals and Drug Administration. As every particular person is totally different, the advantages, if any, of taking the Firm’s merchandise will differ from individual to individual. No claims or ensures might be made as to the consequences of the Firm’s merchandise on a person’s well being and well-being. The Firm’s merchandise are usually not supposed to diagnose, deal with, remedy, or stop any illness.
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Assertion Concerning Third-Social gathering Investor Relations Companies
Disclosures regarding investor relations corporations retained by TAAT™ Way of life & Wellness Ltd. might be discovered underneath the Firm’s profile on http://sedar.com.
