After launching Jayvees in February 2023, the Company’s subsidiary Beyond Alternatives sold out its entire first commercial batch of Jayvees edibles in a 14-day period
LAS VEGAS and VANCOUVER, British Columbia, March 16, 2023 (GLOBE NEWSWIRE) -- TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that its subsidiary Beyond Alternatives LLC (“Beyond Alternatives”) has commenced production of the second commercial batch of edibles under the Jayvees brand. In a press release dated February 6, 2023, the Company announced that Beyond Alternatives would be launching Jayvees at the CHAMPS trade show being held in Las Vegas that same week. Jayvees was also featured in Beyond Alternatives’ exhibits at other B2B events such as Total Product Expo (TPE) and ASD Market Week, garnering overwhelmingly positive responses from attendees. Retailers of Jayvees edibles have reported that adult consumers often purchase several units of the product at a given time (approximately ten single-serving units per transaction on average). As of this writing, products under the Jayvees brand are sold in eleven U.S. states as well as in Puerto Rico.
Beyond Alternatives’ initial supply of Jayvees edibles was completely sold out approximately 14 days after becoming available for purchasing on a wholesale basis. The second batch, which will be approximately 13% larger than the first batch, is expected to be ready to ship later this month, with four wholesale pre-orders already confirmed.
Beyond Alternatives has started producing its second commercial batch of Jayvees edibles, which are pictured above as part of a display at a trade show exhibit.
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TAAT® Chief Executive Officer Michael Saxon commented, “We are excited about the early-stage success of Jayvees, as we expand our footprint in the CPG space throughout the United States. Retailers seem to be further embracing edibles and other similar product offerings in 2023, and it is apparent that the Jayvees brand is resonating with adult consumers at the retail level, which is driving enough demand for us to begin manufacturing a second batch so promptly after the first.”
Pat Bell, President of TAAT® wholesale subsidiary ADCO Distributors, Inc. (“ADCO”), commented, “Although ADCO’s business is primarily in legacy convenience categories such as tobacco and confection, we have been scaling up our range of alternative products such as edibles. Our retail accounts have reported that adult consumers are purchasing approximately ten units of Jayvees at a time in-store, and we have had to be diligent about keeping up with demand to make sure they’re kept in stock. The Peanut Butter variety of Jayvees edibles is the best seller, and we are excited for the second batch to be ready to ship so that we can continue supplying Jayvees to our accounts.”
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Michael Saxon”
Michael Saxon, CEO and Director
For further information, please contact:
TAAT® Investor Relations
1-833-TAAT-USA (1-833-822-8872)
investor@taatglobal.com
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About TAAT® Global Alternatives Inc.
TAAT® is a vertically integrated consumer product and distribution company, generating more than CAD $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 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.
For more information, please visit http://taatglobal.com.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur, or be achieved. Forward-looking information in this news release includes statements regarding the anticipated performance of TAAT® in the tobacco industry, in addition to the following: Anticipated completion of the production of the second batch of Jayvees edibles, potential performance of Jayvees in the wholesale and retail markets. The forward-looking information reflects management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed timeframes or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes to the growth and size of the tobacco markets; (iii) changes to the regulatory landscape applicable to the Company's business; and (iv) other factors beyond the control of the Company. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
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