Taat Publishes Gallery of Commercial-Scale Production by Contract Tobacco Manufacturer in Preparation for Ohio Launch - Seite 2

The Company has published a gallery of media showing various steps in the inaugural production run being undertaken by the Manufacturer. This gallery can be accessed on Taat’s website and social media channels, with select still images and an embedded video provided in this press release. At the request of the Manufacturer, certain items in this gallery may be cropped or redacted to conceal the Manufacturer’s proprietary practices as well as the identities of the global and regional tobacco brands for whom the Manufacturer also provides services.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/f2a404b7-7f33-4ad7 ...

https://www.globenewswire.com/NewsRoom/AttachmentNg/cff9aaeb-8236-42c8 ...

https://www.globenewswire.com/NewsRoom/AttachmentNg/4ba75b69-4dd8-400c ...

Please click the links above or click here to access the video clip.

Readers using news aggregation services may be unable to view 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 has elected to publish this gallery to provide an exclusive firsthand glimpse into Taat’s manufacturing process. The current commercial-scale production run represents an important milestone in the Company’s journey as it brings Taat, a novel tobacco-free and nicotine-free alternative to traditional cigarettes, into mainstream tobacco retail channels in the United States with sufficient manufacturing capacity to satisfy potential demand. Following the completion of all Taat production scheduled to occur until approximately the end of November 2020, finished inventory of Taat is to be shipped from the Manufacturer’s warehouse to wholesalers in Ohio who can then fill orders placed by tobacco retailers upon Taat’s launch later this quarter.

Taat Chief Executive Officer Setti Coscarella commented, “Obtaining commercial-scale production with a service provider such as the Manufacturer was one of my top priorities when I became Taat’s CEO at the end of July 2020. Because our business objective is to position Taat to compete with incumbent tobacco products which sell millions of packs per day in the United States alone, I knew that there were several prerequisites to being able to execute such a vision, including the ability to manufacture at a consistently high volume. Last month, we struck a deal with the Manufacturer that had very favourable pricing terms for them to produce Taat at a rate of up to 2,000 sticks per minute. Since then, we have received shipments of raw biomass which are being processed in-house to make the Beyond Tobacco base material, and we have procured an updated pack design which enables Taat’s shelf appearance to align with those of competing tobacco category products. The inaugural commercial-scale production run with the Manufacturer represents the culmination of these developments, which is a pivotal event leading up to the launch of Taat in Ohio.”