LAS VEGAS and VANCOUVER, British Columbia, Oct. 18, 2022 (GLOBE NEWSWIRE) -- TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that starting in November 2022 TAAT® Original, Smooth, and Menthol are to be carried by the Greater Austin Merchants Cooperative Association (“GAMA”). GAMA services over 600 member stores in central Texas, primarily in the Austin area (population 965,000), in addition to more than 1,200 other retail locations supported and distributed to by the association. The Company continues to build out the presence of TAAT® throughout the state of Texas, now with three leading convenience retailers. Wholesale buying cooperatives such as GAMA provide the platform to penetrate hundreds of independent retailers, in a manner that is similar to standard chain account sales. TAAT® merchandisers will work hand-in-hand with GAMA to execute at retail stores operated by GAMA accounts in Austin for the purpose of educating retailers, staff, and adult smokers about the unique value proposition of TAAT®. The Company formed its relationship with GAMA through B&B Beyond (announced in a September 13, 2022 press release), who is representing TAAT® among a network of convenience industry contacts in the United States.
TAAT® Chief Executive Officer Michael Saxon commented, “With our GAMA partnership, we will have the scale to fully launch TAAT® in the Austin, TX market. Groups such as GAMA diligently identify opportunities for their members to improve store profitability, which will be a major selling point of TAAT® as a product with significantly higher profit margins for retailers compared to what they earn selling tobacco cigarettes. Texas is an important market for the Company, and we look forward to working with GAMA as part of our expansion plans.”
GAMA Vice President Ernie Limon stated, “We are all about providing innovative products to our member retailers, alongside legacy mainstays such as tobacco, soda, and confection. Although certain segments within convenience virtually never change, category-creating products such as TAAT® provide a win for adult smokers who can benefit from a low-cost and nicotine-free option, as well as a win for retailers who make significantly more on each sale of this non-tobacco product. This value proposition is very straightforward, and I believe will result in a strong conversion rate for capturing market share among our accounts in the Austin area. GAMA is excited to be introducing TAAT® as an innovative product within its network, in a market where TAAT® is already an established brand name.”
Founded in 1999, GAMA’s members represent approximately 35% of the convenience market in the Austin area, with over USD $1 billion in combined revenues annually. GAMA owns and operates its own warehouse and distribution centre in Austin, and is in the process of adding a 300,000 square foot warehouse in Georgetown, TX, which will also act as a “cash-and-carry” point of sale for wholesale purchases. In addition to a standard range of convenience category wares, GAMA stocks a full selection of tobacco products to include major brands of tobacco cigarettes. More information about GAMA can be found on its website at the following link: http://gamaus.com
GAMA members represent over 600 stores in central Texas, mainly in the Austin area. The map above shows the locations of its members’ stores, which collectively account for approximately 35% of the Austin-area convenience market. TAAT® and GAMA will be working together to strategically commercialize the Company’s novel alternative to tobacco cigarettes throughout the convenience channel in the Austin area, where TAAT® is presently sold in independent stores as well as chain retailers.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ea29ce24-f308-4c01-9b05-23a41b17b859
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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
THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.
About TAAT® Global Alternatives Inc.
TAAT® develops, manufactures, and distributes alternative products in categories such as tobacco, hemp, kratom, and other emerging CPG segments. Its flagship product is a nicotine-free/tobacco-free combustible with a patent-pending base material formulation, sold in several thousand U.S. stores. With over CAD $80 million in overall gross revenue annually, TAAT®’s facilities include an operations centre in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
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: Successful commencement of GAMA carrying TAAT® products beginning in November 2022, potential placements and sales of TAAT® made through GAMA. 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.
The statements in this news release have not been evaluated by Health Canada or the U.S. Food and Drug Administration. As each individual is different, the benefits, if any, of taking the Company’s products will vary from person to person. No claims or guarantees can be made as to the effects of the Company’s products on an individual’s health and well-being. The Company’s products are not intended to diagnose, treat, cure, or prevent any disease.
This news release may contain trademarked names of third-party entities (or their respective offerings with trademarked names) typically in reference to (i) relationships had by the Company with such third-party entities as referred to in this release and/or (ii) client/vendor/service provider parties whose relationship with the Company is/are referred to in this release. All rights to such trademarks are reserved by their respective owners or licensees.
Statement Regarding Third-Party Investor Relations Firms
Disclosures relating to investor relations firms retained by TAAT® Global Alternatives Inc. can be found under the Company's profile on http://sedar.com.
