"Four Reasons for Ohio" Despite Nearly 66,000 Taat Units Sold Pre-Launch in Other Markets, Taat CEO Gives Video Statement Regarding Decision to Launch Taat in Ohio
In its October 6, 2020 press release, the Company announced the U.S. launch of Taat would occur in the state of Ohio in mid-Q4 2020. Despite stellar performance of small-scale test batches of
Taat in other states, including a 72-hour sell-out in Nevada in August 2020 and total unit turnover of nearly 66,000 units, the Company’s decision to launch specifically in Ohio was based on
several strategic factors which are detailed by CEO Setti Coscarella in a video statement dated October 30, 2020.
LAS VEGAS and VANCOUVER, British Columbia, Oct. 30, 2020 (GLOBE NEWSWIRE) -- TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “Taat”) has issued a video statement by its Chief Executive Officer Setti Coscarella detailing the Company’s rationale for selecting Ohio as the launch market in the United States for Taat, a tobacco-free and nicotine-free alternative to tobacco cigarettes. To date, Taat and the Beyond Tobacco base material have enjoyed substantial popularity among current tobacco smokers of legal age in Nevada, California, Georgia, and Texas, who sampled a limited supply of early iterations of the product beginning in 2019, with many purchasing Taat at retail in place of their routine tobacco cigarette purchases. Although a large quantity of Taat has been sold at retail with no advertising, marketing, or in-store promotion of any kind in these markets, the Company announced in its October 6, 2020 press release that it would be launching Taat in Ohio, with a launch date of November 27, 2020 announced shortly thereafter. To clarify the basis of the Company’s decision to launch Taat in Ohio as opposed to the markets in which it has already been successful, Mr. Coscarella has issued a video statement outlining the Company’s rationale, which is provided in this release.
Taat has developed Beyond Tobacco, the nicotine-free and tobacco-free base material of Taat, an alternative to cigarettes designed to be experientially similar to smoking tobacco. Offered in Original, Smooth, and Menthol varieties, Taat is designed to be attractive to current tobacco smokers of legal age who wish to keep the experience of smoking cigarettes, while leaving nicotine behind. The Company’s executive management team, formerly of the tobacco industry, is creating commercialization strategies to build Taat’s market share in the USD $814 billion global tobacco industry.
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