LAS VEGAS and VANCOUVER, British Columbia, Jan. 29, 2021 (GLOBE NEWSWIRE) -- TAAT™ LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT™”) is pleased to announce that after TAAT™ became available to purchase at tobacco retail stores in Ohio, approximately 60% of retailers who have carried TAAT™ for three or more weeks have reordered at least once, with several reorders being for a greater quantity than the first. Additionally, the Company has confirmed through its first distribution partner in Ohio that TAAT™ has been placed in approximately 1.4% of all convenience and gas station retail points of sale in the state of Ohio. This reorder rate for TAAT™ could be attributed to sustained interest in the product from legal-aged smokers, with the management of several tobacco retailers indicating there has been a pattern of repeat customers who request TAAT™ by name. During TAAT™’s second month of retail availability in Ohio, the Company continues its promotional initiatives targeted towards legal-aged smokers including a digital marketing campaign for the TryTAAT landing page (http://trytaat.com), as well as an “out-of-home” media campaign on gasoline pump displays which was launched at 1,087 Ohio gas stations earlier this week. In-house sales efforts led by the Company have continued to garner new store placements for TAAT™ in new parts of Ohio, its initial market in the United States.

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“Original”, “Smooth”, and “Menthol” varieties of TAAT™ are merchandised as part of a cigarette display at a tobacco retail store in Ohio

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Even in the early stages of the launch of TAAT™ in Q4 2020, legal-aged smokers across the United States exhibited enthusiasm about the product. In the Company’s November 6, 2020 press release it was announced that nearly one third of all visitors to the TryTAAT landing page submitted confirmed requests for a sample pack of TAAT™, a conversion rate that is considered exceptional by industry standards. In a press release dated January 12, 2021, the Company also announced that the Menthol variety of TAAT™ was the first to be sold out and reordered by tobacco retailers. As tobacco retailers in Ohio continue to reorder TAAT™, the Company is confident that it can keep gaining market share by scaling its current commercialization efforts. Once the TAAT™ online store is launched, the Company believes the ability to sell TAAT™ directly to legal-aged smokers could accelerate adoption of TAAT™ as a replacement for tobacco cigarettes.

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Now in its second month of availability at retail in Ohio, TAAT™ is currently carried in over 100 tobacco retail stores across the state, as shown in the Store Locator feature of the TryTAAT landing page (http://trytaat.com)

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TAAT™ Chief Executive Officer Setti Coscarella commented, “After about six weeks of selling all three varieties of TAAT™ at retail in Ohio, we have had the opportunity to gather some very insightful data about how it has performed among legal-aged smokers in our initial market. Aside from the glowing feedback we have received about TAAT™ between anecdotes from stores, online reviews, and comments sent directly to us, the most meaningful indicator of our success so far is the product velocity. For stores that have stocked TAAT™ for at least three weeks, more than half of them have placed reorders, many of which were for larger quantities than their original order. I believe this demonstrates that the collective sum of our efforts are having the intended effect. Much of 2020 was spent perfecting TAAT™ and Beyond Tobacco™, procuring manufacturing at the right price, laying down infrastructure for distribution and sales, and strategizing marketing initiatives targeted towards legal-aged smokers in the United States. These reorders show that we are gaining momentum in 2021, and we intend to pick up even more steam as we continue to add more points of sale and prepare to launch our online store which can avail TAAT™ to legal-aged smokers in dozens of states besides Ohio.”

TAAT™ Chief Revenue Officer Tim Corkum commented, “Out of all of the tobacco category products I have worked with, TAAT™ is an outlier in terms of the level of demand it has had in its early stages. I have launched dozens of new tobacco brands across Canada as well as in the Caribbean, and while many of the new products were reordered by retailers in their first several weeks on the market, none of them were reordered by anywhere near 60% of stores that initially carried them. I believe that our patient, methodical, and disciplined approach to bringing TAAT™ to the USD $814 billion global tobacco industry has contributed to this strong early-stage performance, and I have confidence that we could replicate these outcomes both in Ohio and in other markets where we may introduce TAAT™ in the future.”

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)
investor@taatusa.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™ 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™ was launched first 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://taatglobal.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 future reorders from retailers of TAAT™ products, launch of TAAT™ online store. 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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