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TAAT Lifestyle & Wellness Ltd
Symbol TAAT
Shares Issued 95,446,672
Close 2021-04-22 C$ 3.25
Recent Sedar Documents

TAAT launches Beyond Nicotine initiative

2021-04-23 06:42 ET - News Release

Mr. Setti Coscarella reports

TAAT LAUNCHES BEYOND NICOTINE INITIATIVE IN LIGHT OF IMPENDING FEDERAL ANTI-NICOTINE REGULATIONS TO DRIVE AWARENESS OF TAAT NICOTINE-FREE ALTERNATIVES TO TOBACCO CIGARETTES

TAAT Lifestyle & Wellness Ltd. has launched its Beyond Nicotine initiative with an objective of emphasizing the absence of nicotine in its flagship product TAAT, which is formulated to taste and smell similarly to tobacco despite containing no actual tobacco. On Monday, April 19, 2021, the Wall Street Journal published a report that the Biden administration in the United States is considering enacting a requirement for tobacco companies to reduce nicotine levels in all cigarettes sold nationwide to a level at which they would no longer be addictive. According to a CNBC report later that day, which covered the apparent negative impact of this announcement on the stock prices of several major tobacco firms (that is, Altria, British American Tobacco and Philip Morris International), the goal of reducing nicotine levels in cigarettes would be to encourage smokers to give up tobacco or choose alternatives that are considered safer. In the fourth quarter of 2020, the company began commercializing TAAT in Ohio, followed by the launch of its e-commerce portal enabling the majority of smokers aged 21 plus in the United States to purchase TAAT original, smooth and menthol on-line for home delivery.

Based on these impending regulations to lower nicotine levels in cigarettes sold in the United States, the company has elected to launch Beyond Nicotine as an approach to building awareness of TAAT as a nicotine-free alternative to tobacco cigarettes for smokers aged 21 plus. In a press release dated April 14, 2021, the company announced several key findings from a consumer research study, which reflected positive reception of TAAT, both in concept and as an actual product, which included nearly three-quarters of subjects who sampled the product classifying the overall quality as very good or somewhat good. These sentiments largely reflect in-market performance of TAAT to date through in-store and on-line sales.

The Beyond Nicotine initiative will consist of moderate revisions to the company's messaging in its materials and communications and potentially campaigns through various media channels (that is, on-line, digital out of home and point of sale), which would broadcast the Beyond Nicotine slogan to smokers aged 21 plus in the United States. As of Thursday, April 22, 2021, the company has updated certain parts of its consumer-facing website to include Beyond Nicotine messaging. Furthermore, TAAT has started producing promotional graphics built around Beyond Nicotine, which the company intends to strategically place and distribute throughout the tobacco marketplace in light of these potential regulatory changes in the United States relating to nicotine.

TAAT chief executive officer Setti Coscarella commented: "This announcement from the Biden administration alters the landscape in which we operate as smokers 21 plus in the United States will no longer be thinking of nicotine as just something they might be considering leaving behind, but rather something they would soon have no choice but to reduce their intake of at a bare minimum. For several months now, I have been saying how the lack of nicotine in TAAT products is one of our best-selling points because nicotine is objectively a useless drug. Indeed, tens of millions of smokers aged 21 plus in the United States can currently choose between a full-nicotine tobacco cigarette or a nicotine-free alternative such as TAAT. However, it is very possible that later in 2021 the former option may not exist. Smokers aged 21 plus now have the opportunity to try and perhaps switch to TAAT and experience the difference that can be had by forgetting about nicotine and keeping the sensations they enjoy. We therefore expect Beyond Nicotine to be an important element of our brand in 2021 as the U.S. tobacco industry prepares to potentially take on an unprecedented shift, which we hope to be able to capitalize upon by providing smokers aged 21 plus a better and nicotine-free choice."

About TAAT Lifestyle & Wellness Ltd.

The company has developed TAAT, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in original, smooth and menthol varieties. TAAT's base material is Beyond Tobacco, a proprietary blend that undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with big tobacco pedigree, TAAT was launched first in the United States in the fourth quarter of 2020 as the company seeks to position itself in the $814-billion global tobacco industry.

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