Mr. Michael Saxon reports

TAAT PROVIDES UPDATE ON STATUS OF MCTO AND CLOSES DEBT SETTLEMENT

TAAT Global Alternatives Inc. has provided this update on the status of a management cease trade order granted on Feb. 29, 2024, by the British Columbia Securities Commission under National Policy 12-203, Management Cease Trade Orders. On Feb. 29, 2024, the company announced that, for reasons disclosed in the news release, there would be a delay in the filing of its financial statements and accompanying management discussion and analysis for the fiscal year ended Oct. 31, 2023, beyond the period prescribed under applicable Canadian securities laws.

Due to the additional procedures and added complexities of auditing certain transactions during the financial year, the auditor has requested more time for partner and consultant reviews as part of those enhanced measures. The company applied for and received an extension of its MCTO by the British Columbia Securities Commission. The company is now required to complete its annual filings by May 13, 2024, with the interim filings being due for filing within five business days after the annual filings have been filed.

The company reports that the audit is progressing and will provide a further update on the timing of its annual filings on or about May 10, 2024. The company is also progressing on completion of its interim financial statements and accompanying management discussion and analysis for the first quarter ended Jan. 31, 2024, and will provide a further update on or about May 10, 2024. Further updates on timing will be provided by the company as necessary.

During the MCTO, the general investing public will continue to be able to trade in the company's listed common shares. However, the company's chief executive office and chief financial officer will not be able to trade in the company's common shares.

Other than as disclosed in this news release, there are no material changes to the information contained in the default announcement. The company confirms that it intends to satisfy the provisions of NP 12-203 and will continue to issue biweekly default status reports for so long as it remains in default of the annual filing requirement.

Closing of debt settlement

The company has closed the previously announced debt settlement agreements to fully settle outstanding debts owed to a creditor for corporate back-office services rendered. Pursuant to the settlement agreement, the company has issued an aggregate of 303,456 common shares at a deemed price of 26.5 cents per share, based on a 20-day VWAP ((volume-weighted average price).

The share settlement will settle $80,415.88 in debts owed to the creditor, which is a full settlement for the total amount of bona fide debts owed to the creditor.

The board of directors of the company has determined that it is in the best interests of the company to settle the outstanding debts by the issuance of the shares in order to preserve the company's cash for working capital.

The company will be relying on the employee, executive officer, director and consultant exemption contained in Section 2.24 of National Instrument 45-106, Prospectus Exemptions, to issue the shares to the creditor. The Canadian Securities Exchange has waived the requirement to impose a four-month-and-one-day hold period on the shares.

About TAAT Global Alternatives Inc.

TAAT is a vertically integrated consumer product and distribution company, generating more than $90-million in overall gross revenue annually. TAAT is strategically expanding its product categories, including tobacco and reduced-risk alternatives, hemp, kratom, and other emerging CPG (consumer packaged goods) segments. TAAT has facilities to include a processing plant in Nevada as well as a distribution centre in Canton, Ohio, leveraging existing retail shelf space and pipelines into national wholesale channels.

We seek Safe Harbor.