“A Transformational Development” Video Statement from Taat CEO Details Potential Opportunities with Hong Kong Financier
Following its Friday, October 9, 2020 press release, the Company’s Chief Executive Officer has issued a video statement providing further insights about its recent private placement in escrow, as well as corresponding potential opportunities that could materialize from the resulting strategic partnership.
LAS VEGAS and VANCOUVER, British Columbia, Oct. 13, 2020 (GLOBE NEWSWIRE) -- TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or
“Taat”) announced in a press release dated Friday, October 9, 2020 the closing of a private placement (in escrow, subject to the Company confirming the delivery of the closing proceeds) in
the amount of CAD $6,750,000 / USD $5,000,000 (the “Placement”). The Placement was led by Hong Kong financier Debbie Chang, co-founder of Horizons Ventures, in her personal capacity. This press
release can be accessed by clicking here. The October 9, 2020 press release is complemented by a video statement from Taat Chief Executive Officer Setti Coscarella, in which Mr. Coscarella comments on the
significance of the Placement with respect to the Company’s immediate and near-term business objectives. In the video, which is embedded below, Mr. Coscarella describes how the strategic
partnership formed by way of the Placement could potentially expedite future expansion initiatives.
The Company has developed Beyond Tobacco, the nicotine-free and tobacco-free base material for Taat, an analogue to tobacco cigarettes. Offered in Original, Smooth, and Menthol varieties, Taat is a combustible product that has been engineered to mimic the many sensory and motor elements that comprise the experience of smoking a tobacco cigarette. Such elements include a tobacco-like scent and taste, an enhanced volume of smoke, and even an audible “crackling” as the product burns.
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8a1f619c-018c-4b14 ...
Readers using news aggregation services may be unable to access the media above. Please access the Investor Relations section of the Company’s website for a version of this press release containing all published media.
The Company’s management believes the Placement is a development that further encourages its principal business objective to commercialize Taat as a novel alternative to tobacco cigarettes. Between additional operating capital and resources that can facilitate expedited growth, the Placement builds upon momentum that the Company has gained from its several key accomplishments made over the past six months:
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