LAS VEGAS and VANCOUVER, British Columbia, July 01, 2022 (GLOBE NEWSWIRE) -- TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the "Company" or "TAAT®") is pleased to provide a detailed overview of its financial outlook, strategic priorities, and organizational alignment for the remainder of calendar 2022 as well as the calendar year of 2023, in addition to formal guidance with respect to its forecasted revenue and sales. The Company recently built upon the 2,700-store U.S. footprint of its flagship product TAAT® through the acquisition of an Ohio-based tobacco and convenience distributor with access to over 5,000 Ohio retailers in addition to three owned storefronts. Furthermore, with a robust sales pipeline curated over 60 years of operation, the distributor's cash flow is expected to fortify the Company's overall revenues long-term. The Company also continues to realize numerous benefits from the Version III ("V3") formulation of the Beyond Tobaccotm formulation of TAAT®, including greater satisfaction of adult smokers as well as manufacturing-related efficiencies with respect to cost and production velocity.
Highlights of TAAT® Forecasts for 2022 and 2023
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TAAT® Strategic Plan Action Items for 2022 and 2023
TAAT® Formal Guidance for Revenue and Sales
TAAT® Founder Joe Deighan commented, "In the approximately 18 months since TAAT® was first launched in the United States, we have established a solid foundation through strong execution of our priorities as well as continued attention to research and development. The advanced formulation of Beyond Tobaccotm known as V3 has proven exceptionally popular among adult smokers, and we have proactively taken steps to replace inventory of TAAT® made with previous iterations, thus ensuring that V3 is as widely available as possible. Our acquisition of ADCO provides us more than just distribution bandwidth, which is to say that we can obtain priceless feedback and various types of insights (whether qualitative or quantitative) to continuously evaluate the performance of a given product on the market, and shape our business decisions accordingly to drive sell-through and long-term brand equity. Perhaps most exciting, we are branching out into segments that complement our core offerings, such as TAAT® heat-not-burn as well as a zero-hemp formulation of Beyond Tobaccotm that can enable us to commercialize TAAT® more broadly at a global level. We anticipate great outcomes in the rest of 2022 and throughout 2023, and are keen to continue with actively commercializing TAAT® as a better alternative to legacy tobacco products."
To provide further detail with respect to the matters described in this press release, on Wednesday, July 6, 2022 at 4:15 pm Eastern time (1:15 pm Pacific time) the Company will be hosting a public teleconference with Chief Executive Officer Michael Saxon and Chief Financial Officer Joel Dumaresq. Questions must be submitted in advance and can be sent by email to [email protected]. Please be advised that questions regarding certain proprietary, competitive, or confidential information in addition to any forward-looking insights or speculation will not be addressed by Mr. Saxon or Mr. Dumaresq during this session. To register as an attendee of the Company's July 6, 2022 teleconference, please click or tap on the following link: https://services.choruscall.ca/links/taatglobalalternatives202207.html
Potential attendees of the Company's teleconference may access the event online through the Chorus Call platform using the link above. For parties who cannot attend through this channel, telephone access is available as an accommodation upon request. Please contact TAAT® Investor Relations for more information.
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
Joe Deighan, COO and Director
For further information, please contact:
TAAT® Investor Relations
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.
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: Achievement of certain financial results predicted in the press release, continued performance of TAAT® as a product as well as ADCO as a distributor under the Company's ownership and administration, potential outcomes from initiatives and plans discussed in the press release. 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.
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