LAS VEGAS and VANCOUVER, British Columbia, May 06, 2022 (GLOBE NEWSWIRE) -- TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”)is pleased to announce that it is working with a tobacco distributor that has a presence in Zurich and Zug to coordinate a near-term launch of TAAT® Original, Smooth, and Menthol in Switzerland with a primary objective of capitalizing on recent changes to Switzerland’s market landscape causing tobacco brands to be prohibited from advertising in public places. Although tobacco advertising has long been banned in most Western markets, Switzerland was among the last to allow tobacco product advertisements in public spaces (e.g., on billboards, in movie theatres, and at events such as music festivals). On February 13, 2022, voters in Switzerland overwhelmingly approved legislation forbidding tobacco companies from advertising in public spaces1.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cddd3181-f921-4051-8fda-3808054c7d22

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The Company has been exploring several launch opportunities throughout Europe, particularly after finalizing the advanced formulation of Beyond Tobacco™ using reconstituted material. In a press release dated September 3, 2021, TAAT® announced that the advanced Beyond Tobacco™ formulation yielded excellent feedback from tobacco wholesalers in markets to include Germany, Poland, France, and Switzerland. Pending final regulatory approval of the TAAT® product by Swiss authorities, the Company expects Switzerland to be the first new international market to be added for TAAT® in 2022 following the pending finalization of a distribution agreement and initial purchase order. Switzerland currently has a higher adult smoking rate than the European average at 27%2; more than double the national rate of 12.5% in the United States3.

As TAAT® is a non-tobacco product, the Company benefits from an extensive range of freedoms with respect to its ability to market through public-facing media in markets where tobacco advertisements are restricted or disallowed. In the United States, TAAT® has advertised its brand as a better alternative to tobacco cigarettes through methods such as in-store displays at the point of sale, as well as sports sponsorships (e.g., a stock car racing team, the entourage of world champion boxer Floyd Mayweather). The Company intends to strategically place German-language advertisements such as the mockup shown below as part of its launch plan in Switzerland, with French-language variations for markets in western Switzerland such as Geneva, the country’s second-ranking city by population.

TAAT® Founder Joe Deighan commented, “As the tobacco industry continues to evolve, it is a major part of our playbook to jump on opportunities to do things that tobacco companies cannot do as a way for TAAT® to gain a competitive advantage. Switzerland was already a target market for a future TAAT® launch due to its relatively high adult smoking rate of 27% and its optimal location in the centre of Europe, sharing a border with five other nations. However, with Switzerland set to put an end to tobacco advertising based on a vote for new legislation last quarter, we recognized this impending change for the timely opportunity that I believe it to be. We are working closely with a Swiss tobacco distributor who is now in the final stages of obtaining government approval for TAAT® to be sold in Switzerland, and I am excited for the next steps as we continue to build out our tobacco industry footprint.”

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