- Company changes name to reflect mission, business objectives
- TAAT common shares continue to trade under ticker TAAT on CSE
- Numerous benefits anticipated from potential uplisting to NASDAQ
TAAT(TM) Global Alternatives (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP2) has officially changed its name from TAAT Lifestyle & Wellness Ltd. (https://ibn.fm/bOTjX). The company also submitted an application for its common shares to be listed on the Nasdaq Capital Market, one of the three tiers of the Nasdaq Stock Market (https://ibn.fm/ce9pR).
“Now that we have gained momentum in the USD $814 billion global tobacco industry, we have determined it to be important to ensure the most prominent identifying attributes of the company reflect our mission and business objectives,” said TAAT CEO Setti Coscarella. “Last week, we announced our Beyond Nicotine(TM) initiative based on reports that the Biden administration plans to take action to reduce nicotine content in tobacco cigarettes sold in the United States.
“Our value proposition is built around offering a better alternative for smokers aged 21+, giving them the choice to keep the experiences they enjoy while leaving nicotine behind,” he continued. “With over 1.3 billion users of tobacco worldwide, we believe TAAT and its Beyond Tobacco base material are relevant globally, which led to our board of directors agreeing on the updated name.”
For now, the company’s common shares will continue to trade under the ticker TAAT on the Canadian Securities Exchange, and no change was made to the company’s ticker symbol as a result of the name change.
The request to uplist to the NASDAQ comes only a month after the company was upgraded from the OTCQB Venture Market to the OTCQX Best Market, the highest tier of markets operated by OTC Markets Group Inc. The company anticipates several benefits from its potential uplisting to NASDAQ, including additional opportunities to attract institutional and retail investors, and expanding its investor base to the United States and beyond; greater visibility for TAAT and its business activities and accomplishments, as well as its future growth strategy; possible increased liquidity; and enhanced overall market presence.
TAAT Lifestyle and Wellness has developed TAAT, a tobacco-free and nicotine-free alternative to traditional cigarettes available 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.
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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