Year in Review: TAAT(TM) Provides Corporate Update
509Year in Review: TAAT(TM) Provides Corporate Update Summarizing its First Year Under Executive Leadership from "Big Tobacco"
TAAT GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT ”) is pleased to provide a “year in review” summary of the Company’s performance and accomplishments since August 2020 when it added two former “Big Tobacco” players to its executive team, including Chief Executive Officer Setti Coscarella (former lead strategist for Philip Morris International) and Chief Revenue Officer Tim Corkum (former international commercialization executive for Philip Morris International). Under the administration of Mr. Coscarella and Mr. Corkum, the Company has completed development of TAAT and has successfully launched the product at retail in multiple U.S. states with a total store count of more than 500, in addition to an e-commerce portal that has received orders from smokers aged 21+ in 37 U.S. states. To provide shareholders an overview of the Company’s progress over the past twelve months, TAAT has assembled a month-by-month timeline of key milestones:
August 2020: Setti Coscarella is appointed CEO of TAAT, Tim Corkum is appointed CRO of TAAT.
September 2020: TAAT negotiates favourable production terms with a contract manufacturer of cigarettes for global and regional tobacco brands, files its first U.S. patent for a step in the Beyond Tobacco base material refinement process, and receives approximately 3.2 tons of material for producing Beyond Tobacco. In the United States, the Company’s common shares were upgraded to the OTCQB market .
October 2020: Ohio tobacco wholesaler places initial purchase order of TAAT. Private placement of CAD $6.75 million closed with a group of investors led by Ms. Debbie Chang (co-founder of Horizons Ventures, investing in her personal capacity). TAAT expands its IP portfolio with 17 trademark applications filed in 15 jurisdictions . Two key members added to the TAAT advisory board; Michael Saxon (former growth strategist for Altria and Philip Morris International) and Kit Dietz (former board member of Lorillard, named Dean of the Industry in convenience wholesale).
November 2020: Launch-related media is finalized and released including video advertisements and first in-store graphic placements . TryTAAT landing page launches and converts nearly one third of visitors into TAAT sample pack requests. Dr. Cindy Orser (life sciences scholar and executive biochemist for projects with U.S. federal agency funding) added to the TAAT advisory board. Setti Coscarella is appointed to the Company’s Board of Directors.
December 2020: TAAT becomes a “post-revenue” company, and is added to the CSE Composite Index as well as its CSE25 subset (consisting of the largest 25 companies in Composite by market capitalization). Investor group in October 2020 CAD $6.75 million private placement voluntarily exercises their warrants for gross proceeds of CAD $10 million. First TAAT shipment arrives at Ohio tobacco distributor, TAAT performs positively in its first week at retail in Ohio.
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