“Dean of the Industry”

Ohio-Based Wholesale Distribution Icon and Former Lorillard Board Member Kit Dietz Appointed to Taat Advisory Board

The Company has appointed Kit Dietz to its board of advisors. Mr. Dietz was named “Dean of the Industry” in 2017 by the Convenience Distribution Association for his national-level contributions to the distribution trade, as well as his performance as President and Chairman of convenience, food, and tobacco distribution firms in the northern United States. Dietz was also on the board of directors of Lorillard, maker of Newport menthols, prior to its acquisition by a subsidiary of British American Tobacco.

LAS VEGAS and VANCOUVER, British Columbia, Oct. 16, 2020 (GLOBE NEWSWIRE) -- TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “Taat”) is pleased to announce that it has appointed Kit Dietz, an award-winning convenience channel executive and consultant, tobacco industry expert, and a strategic advisor to consumer packaged goods (“CPG”) firms, to its board of advisors. Mr. Dietz has more than three decades of experience in the convenience wholesale industry, including top management roles with well-known convenience channel distributors in the northern United States. In the tobacco industry, Dietz also served on the board of directors of Newport cigarette maker Lorillard Inc. (“Lorillard”) leading up to its USD $27.4 billion acquisition in June 2015. More recently, Mr. Dietz became President of InfoRhythm Inc., a business data analytics firm for retail and wholesale businesses and their respective supply chains providing prescriptive data-driven insights to CPG companies, convenience distributors, and retailers. Based out of northern Ohio, Mr. Dietz presently advises CPG companies and top management of distribution firms using his extensive knowledge of the convenience channel at a granular level. The Company believes Mr. Dietz’s renowned expertise in the convenience and tobacco categories in the region of Taat’s launch market could be instrumental in building competitive advantages as Taat seeks to gain market share in the USD $814 billion global tobacco industry.

The Company has developed Beyond Tobacco, the base material for its flagship product Taat. Containing no nicotine or tobacco, Taat is an alternative to tobacco cigarettes for current tobacco smokers of legal age who aspire to leave nicotine behind. Taat has meticulously engineered its product to mimic the sensory attributes of the experience of smoking a tobacco cigarette, including a familiar product format, an enhanced volume of smoke, and a scent and taste similar to actual tobacco attained through a patent-pending refinement technique. With 1.3 billion tobacco users worldwide¹, Taat’s objective is to offer a novel alternative to tobacco cigarettes which allows current smokers to keep their ritual, while abandoning nicotine.