Subject: NEW PRODUCTS/SERVICES
TAATtm Launches Beyond Nicotinetm Initiative in Light of Impending Federal Anti-Nicotine Regulations to Drive Awareness of TAATtm Nicotine-Free Alternatives to Tobacco Cigarettes
LAS VEGAS and VANCOUVER, British Columbia, April 23, 2021 (GLOBE NEWSWIRE) -- TAATtm LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP2) (the "Company" or "TAATtm") has launched its "Beyond Nicotinetm" initiative with an objective of emphasizing the absence of nicotine in its flagship product TAATtm, which is formulated to taste and smell similarly to tobacco despite containing no actual tobacco. On Monday, April 19, 2021, the Wall Street Journal published a report that the Biden administration in the United States is considering enacting a requirement for tobacco companies to reduce nicotine levels in all cigarettes sold nationwide to a level at which they would no longer be addictive1. According to a CNBC report later that day, which covered the apparent negative impact of this announcement on the stock prices of several major tobacco firms (e.g., Altria, British American Tobacco, Philip Morris International), the goal of reducing nicotine levels in cigarettes would be to encourage smokers to give up tobacco or choose alternatives that are considered safer2. In Q4 2020, the Company began commercializing TAATtm in Ohio, followed by the launch of its e-commerce portal enabling the majority of smokers aged 21+ in the United States to purchase TAATtm Original, Smooth, and Menthol online for home delivery.
Based on these impending regulations to lower nicotine levels in cigarettes sold in the United States, the Company has elected to launch Beyond Nicotinetm as an approach to building awareness of TAATtm as a nicotine-free alternative to tobacco cigarettes for smokers aged 21+. In a press release dated April 14, 2021, the Company announced several key findings from a consumer research study which reflected positive reception of TAATtm, both in concept and as an actual product, which included nearly three quarters of subjects who sampled the product classifying the overall quality as "very good" or "somewhat good". These sentiments largely reflect in-market performance of TAATtm to date through in-store and online sales.
A graphic accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/03673a08-3a7c-4620-9424-f27874aa05ed
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.
The Beyond Nicotinetm initiative will consist of moderate revisions to the Company's messaging in its materials and communications and potentially campaigns through various media channels (e.g., online, digital out-of-home, point of sale) which would broadcast the Beyond Nicotinetm slogan to smokers aged 21+ in the United States. As of Thursday, April 22, 2021, the Company has updated certain parts of its consumer-facing website to include Beyond Nicotinetm messaging. Furthermore, TAATtm has started producing promotional graphics built around Beyond Nicotinetm, which the Company intends to strategically place and distribute throughout the tobacco marketplace in light of these potential regulatory changes in the United States relating to nicotine.
A graphic accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c41ec899-a133-44f0-a5f6-e1aa508dba18
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.
TAATtm CEO Setti Coscarella commented, "This announcement from the Biden administration alters the landscape in which we operate as smokers 21+ in the United States will no longer be thinking of nicotine as just something they might be considering leaving behind, but rather something they would soon have no choice but to reduce their intake of at a bare minimum. For several months now, I have been saying how the lack of nicotine in TAATtm products is one of our best selling points because nicotine is objectively a useless drug. Indeed, tens of millions of smokers aged 21+ in the United States can currently choose between a ?full-nicotine' tobacco cigarette or a nicotine-free alternative such as TAATtm. However, it is very possible that later in 2021 the former option may not exist. Smokers aged 21+ now have the opportunity to try, and perhaps switch to TAATtm and experience the difference that can be had by forgetting about nicotine and keeping the sensations they enjoy. We therefore expect Beyond Nicotinetm to be an important element of our brand in 2021 as the U.S. tobacco industry prepares to potentially take on an unprecedented shift, which we hope to be able to capitalize upon by providing smokers aged 21+ a better and nicotine-free choice."
Sources
On behalf of the Board of Directors of the Company,
TAATtm LIFESTYLE & WELLNESS LTD.
"Setti Coscarella"
Setti Coscarella, CEO and Director
For further information, please contact:
TAATtm 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 TAATtm Lifestyle & Wellness Ltd.
The Company has developed TAATtm, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in "Original", "Smooth", and "Menthol" varieties. TAATtm's base material is Beyond Tobaccotm, 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, TAATtm 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 Tobaccotm, in addition to the following: Potential outcomes and effects of the Company's Beyond Nicotinetm initiatives. 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 TAATtm Lifestyle & Wellness Ltd. can be found under the Company's profile on http://sedar.com.
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