TAAT Lifestyle & Wellness Announces Accelerated Expiry Date for Warrants

Nachrichtenquelle: globenewswire
25.09.2020, 19:15  |  1039   |   |   


VANCOUVER, British Columbia, Sept. 25, 2020 (GLOBE NEWSWIRE) -- TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “Taat”) announces that the expiry date (the “Expiry Date”) for the warrants issued on August 28, 2020 and September 11, 2020 (the "Warrants"), with regard to its recent non-brokered private placement (see news releases dated August 28, 2020 and September 11, 2020), has been accelerated to 30 days from today's date (for a new Expiry Date of October 25, 2020). The acceleration of the Expiry Date is due to a trigger event which occurred due to the closing price of the common shares being equal or greater than $1.25 for a period of five (5) consecutive trading days, thereby automatically accelerating the Expiry Date of the Warrants. The trigger event was disclosed in the private placement's news releases and in the respective Warrant certificates. The Warrants that are unexercised will expire and be of no further value on October 25, 2020. The Company wishes to remind the warrant holders that the Warrants are subject to the statutory hold period expiring four months after the date of issuance.

Exercise Price Number and Dates of Warrants Issued Accelerated Expiry Date
$1.00 1,859,503 issued on August 28, 2020 October 25, 2020
$1.00 1,192,636 issued on September 11, 2020 October 25, 2020

On behalf of the Board of Directors of the Company,


“Setti Coscarella”

Setti Coscarella, CEO

For further information, please contact:

Mauricio Inzunza

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Taat Lifestyle & Wellness Ltd.

Having developed Beyond Tobacco, which contains no tobacco or nicotine, Taat’s objective is to introduce an innovative, experience-driven alternative to tobacco cigarettes for tobacco smokers who aspire to leave nicotine behind. Beyond Tobacco, which is to be offered in “Original” and “Menthol” varieties, is designed to closely emulate every aspect of smoking a traditional cigarette. From the cigarette-style packaging and stick format, to the proprietary flavouring blend which imparts the flavour and scent of tobacco, to the draw sensation, and the amount of smoke exhaled, Beyond Tobacco has been meticulously engineered to enable smokers to continue enjoying the ritual of smoking, while discontinuing nicotine intake. Taat plans to launch Beyond Tobacco in Q4 2020 and is seeking to position itself in the USD $814 billion (2018)1 global tobacco industry to capitalize on the growing worldwide demand for alternatives to traditional cigarettes.

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