Two-Week Update

Retail Placements of TAAT Continue in Ohio, Production Underway for an Additional TAAT Shipment

LAS VEGAS and VANCOUVER, British Columbia, Dec. 28, 2020 (GLOBE NEWSWIRE) -- TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT”) is pleased to announce that dozens of new store placements have been confirmed as TAAT enters its third week of distribution in its initial market. TAAT has rapidly built a presence across the state of Ohio in just two weeks, primarily in the central and eastern regions. On the Company’s TryTAAT landing page (http://trytaat.com), a directory of TAAT retailers can be accessed, which is updated at regular intervals as store placements are reported to the Company by its wholesale partners. Legal-aged smokers who have purchased TAAT in Ohio have given favourable reviews of the product, highlighting the similarity of the user experience to smoking a tobacco cigarette, as well as the competitive price point of USD $3.99 per pack. The Company is also currently undertaking production of a multi-pallet shipment of TAAT Original, Smooth, and Menthol which is destined to arrive in Ohio early in Q1 2021.

In a press release dated December 17, 2020, the Company announced positive initial performance following the first availability of all three varieties of TAAT for purchase by legal-aged smokers in Ohio. After a CAD $150,000 order of TAAT arrived at the warehouse of an Ohio tobacco distributor in the previous week, the distributor began fulfilling pre-orders of TAAT placed by retail accounts in the convenience channel, which were delivered among products of incumbent cigarette brands on established routing paths.

Over the past two weeks, the Company has diligently interfaced with existing TAAT retailers and wholesalers to provide sales support, collect feedback, and gather insights regarding the performance of TAAT at both the store and territory levels. As a result of these efforts, the Company anticipates steady growth of product availability in Ohio driven by tobacco wholesalers who are introducing TAAT to their respective customer bases of tobacco retailers. Furthermore, the Company has continued its digital and in-store promotional campaigns targeted towards legal-aged smokers in Ohio to create new awareness of the TAAT brand, as well as to strengthen existing awareness. The Company has individually coordinated with the management of several TAAT retailers to strategize optimal placements of TAAT promotional materials and product displays to capture the attention of legal-aged smokers. Select examples of such placements are shown in the images below.