TAAT(TM) Global Alternatives (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) announced that it is partnering with a U.S. subsidiary of Shanghai Shunho New Materials Technology Co. to develop a new offering. TAAT signed a letter of intent (“LOI”) with the subsidiary to collaborate in the development of a white-label “heat-not-burn” device. The two companies will also partner in the development of heatable sticks containing TAAT’s exclusive tobacco-free and nicotine-free Beyond Tobacco(TM) material in three flavors: Original, Smooth and Menthol. According to the company, heat-not-burn tobacco products have been offered in the past as an alternative to combustible tobacco cigarettes; the process retains users better than other tobacco cigarette alternatives. The company announced that it plans to build on its existing international market share in the tobacco industry by expanding into the heat-not-burn category with a tobacco-free, nicotine-free offering that would be among the first of its kind in the United States.
“Our mission is to provide consumers better alternatives to tobacco cigarettes, giving them the option to leave nicotine behind while keeping the experiences they love,” said TAAT CEO Setti Coscarella in the press release. “After just over one year of selling TAAT with launches all over the United States, we have realized exceptional success in offering consumers the novel concept of a combustible product that largely resembles the experience of smoking a tobacco cigarette, but with no tobacco or nicotine. Although this credibly positions us to capture market share in the largest segment of the tobacco category, it is important to remember that there are several niche tobacco segments besides cigarettes. The reason we chose to pursue the heat-not-burn segment is because it is the most ‘sticky’ option out of all commercially available alternatives to cigarettes. The tobacco industry has invested heavily in cultivating a user base for heat-not-burn to the point that it may even replace major brands of tobacco cigarettes altogether in certain markets. We are excited to be leveraging innovative technologies to create a unique nicotine-free and tobacco-free experience using heat-not-burn for consumers who currently use and prefer this method. Because the TAAT heat-not-burn device will work with TAAT sticks as well as certain competitors’ heatable tobacco sticks, we believe this strategy authentically embodies our values as a company by providing consumers the choice and flexibility they deserve to have.”
To view the full press release, visit https://ibn.fm/hBUw9
About TAAT Global Alternatives Inc.
TAAT Global Alternatives has developed TAAT, which is a tobacco-free and nicotine-free alternative to traditional cigarettes that is offered in Original, Smooth and Menthol varieties. TAAT’s base material is Beyond Tobacco(TM), 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 Q4 2020 as the company seeks to position itself in the $814 billion global tobacco industry. For more information, please visit www.TAATGlobal.com.
NOTE TO INVESTORS: The latest news and updates relating to TOBAF are available in the company’s newsroom at https://ibn.fm/TOBAF
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