News LAS VEGAS and VANCOUVER, British Columbia, Dec. 01, 2021 (GLOBE NEWSWIRE) -- TAAT™GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that it has recorded its best-ever month in November 2021 with respect to sales of TAAT™ in the United States since its first retail launch in December 2020. The Company has realized gross revenues of approximately USD $460,000 (approximately CAD $585,000) in the calendar month of November 2021 from sales of TAAT™ consisting of multiple pallets sold each week, while achieving a gross margin of approximately 60%. In the same period, the Company added five new U.S. distributors and manufactured over 27.7% more cartons of TAAT™ compared to its production volume in October 2021. Furthermore, as a proactive measure to ensure there is an ample supply of base material based on current demand levels, so far in calendar Q4 2021 the Company has produced a quantity of the advanced Beyond Tobacco™ formulation (using reconstituted biomass) that is sufficient to produce more than 820,000 packs of TAAT™. As the Company has only recently started to commercialize TAAT™ in international markets, the comparative results provided are based on performance in the United States only.
TAAT™ Original, Smooth, and Menthol are now sold at retail across the United States, in addition to being sold online through the Company’s e-commerce portal which avails TAAT™ to the majority of smokers aged 21+ in the United States. In a press release dated October 22, 2021, the Company announced that the first commercial shipment of TAAT™ arrived in the United Kingdom, which along with Austria, Ireland, and Australia is one of the first international markets where the Company is undertaking launch initiatives for TAAT™. In total, the Company has added ten new U.S. distributors so far in calendar Q4 2021, reflecting the momentum TAAT™ is gaining in the tobacco category among wholesalers.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ef55bf7b-a8e8-4f19-b6a9-e40d465e33d5
Readers using news aggregation services may be unable to view the media above. Please access SEDAR or the Investor Relations section of the Company’s website for a version of this press release containing all published media.
TAAT™ Chief Executive Officer Setti Coscarella commented, “As we approach the close of the first year in which TAAT™ began selling at retail, it is an honour to report that last month was our very best yet in just the United States, not even factoring international markets. When I joined TAAT™ last year, one thing I emphasized was the importance of building robust and efficient infrastructure for distribution and manufacturing, as these factors can significantly influence a company’s ability to be profitable when operating at a national or global scale. To achieve this, we have strategically cultivated a network of tobacco distributors across the country through our growing sales team, and we have procured a state-of-the-art industrial facility for manufacturing and warehousing commercial quantities of the Beyond Tobacco™ base material of TAAT™. These factors, among others, have enabled us to achieve record results in the month of November 2021, and we intend to continue capitalizing on these advantages as smokers aged 21+ continue to make a better choice by switching to TAAT™.”
On behalf of the Board of Directors of the Company,