TAAT(TM) Lifestyle & Wellness (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2), a life sciences company dedicated to giving legal-aged smokers the choice to keep the smoking experience that they enjoy with no nicotine and no tobacco, announced plans to expand into Canada with its recently signed memorandum of understanding (“MOU”). The agreement with Christina Lake Cannabis Corp. (CSE: CLC) outlines a partnership between the two companies to develop and distribute TAAT(TM) for the Canadian market. According to the MOU, CLC will have exclusive rights to develop and distribute TAAT in Canada for a two-year renewable time period. In the announcement, TAAT noted that considerable interest for its products exists in Canada, which has a population of more than 37 million, even though the company has not done any product marketing there. Through its existing licenses, CLC can procure hemp biomass from third-party growers, produce TAAT’s Beyond Tobacco base material, and then manufacture and distribute TAAT through authorized wholesale and retail channels across Canada. “We are very pleased to have partnered with CLC, giving us the opportunity to bring TAAT to legal-aged smokers in Canada, many of whom have shown great enthusiasm about the product,” said TAAT CEO Setti Coscarella in the press release. “During my time in the tobacco industry, it was widely known that Canada was an exceptionally complex region in which to do business because of challenging regulations. Likewise, for products such as TAAT, which utilize hemp, the licensing requirements frequently represent a barrier to entry, often requiring products to be made or distributed through a Licensed Producer such as CLC. We have contemplated several international markets to which TAAT could expand first, and I believe that Canada is the ideal play based on the existing interest we already have from legal-aged smokers across Canada, a positive relationship with CLC to develop and distribute the product on our behalf, and a marketplace where the affordable price point of TAAT adds to its value proposition as a better choice.”
To view the full press release, visit https://ibn.fm/dmNq7
About TAAT Lifestyle & Wellness Ltd.
TAAT Lifestyle and Wellness has developed TAAT, which is a tobacco-free and nicotine-free alternative to traditional cigarettes 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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