- Company signs MOU with Christina Lake Cannabis Corp. to develop, distribute TAAT proprietary product in Canadian market
- TAAT CEO calls Canada “ideal play” for expansion based on existing interest from legal-aged smokers across the country
- Canadian population has nearly identical smoking incidence rate to the U.S., with an estimated 15% of the population that smokes
With record-breaking sales in its first weekend of online sales and an enthusiastic response to its on-the-ground retail launch in Ohio, TAAT Lifestyle & Wellness (CSE: TAAT) (OTCQB: TOBAF) has signed a deal to take its flagship product — TAAT(TM), a tobacco-free, nicotine-free cigarette — into Canada (https://ibn.fm/c7WmP). The company announced that it has finalized a memorandum of understanding (“MOU”) with Christina Lake Cannabis Corp. (CSE: CLC) to develop and distribute its proprietary product in the Canadian market.
“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 Sett Coscarella. “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,” Coscarella concluded.
TAAT has seen impressive growth and success in just the few months since its novel product was unveiled late last year. Available in Original, Smooth and Menthol, TAAT the product was born from the desire many smokers have for a tobacco-free and nicotine-free alternative that still offers the sensation of smoking. TAAT launched its completely innovative product in Ohio, followed by an online store last month. Registering record sales almost immediately — the company reported sales of C$100,000 in the first five days of online availability — the product clearly fills a need shared by adult smokers around the world.
Studies show that the Canadian population has a nearly identical smoking incidence rate to the United States, with an estimated 15% of the population that smokes. Based on TAAT’s research and real-world experience, a sizeable segment of legal-aged smokers could prefer TAAT over their regular brand of tobacco cigarettes. In addition, TAAT’s lower price is another tempting reason for smokers to try the newest option in the world of smoking.
For more information, visit the company’s website at 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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