TAAT®’s Acquisition of ADCO Featured in Crain’s Cleveland Business
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Based on the significance of TAAT®’s acquisition of ADCO (a tobacco distributor founded in 1960 based in Canton, Ohio) in the context of northern Ohio’s business landscape, Crain’s Cleveland Business published an article covering the transaction, adding to the Company’s existing portfolio of TAAT® press coverage. Crain’s Cleveland Business was first published in 1980 and currently reaches an audience of more than 217,000 weekly readers.
LAS VEGAS and VANCOUVER, British Columbia, June 02, 2022 (GLOBE NEWSWIRE) -- TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that its recent acquisition of ADCO Distributors, Inc. (“ADCO”) was covered by Crain’s Cleveland Business in an article dated May 31, 2022, alluding to the transaction’s significance in the northern Ohio business landscape. The Company has previously received press coverage from mainstream outlets to include the Columbus Dispatch1 after TAAT® first launched in Ohio in Q4 2020, as well as Forbes2 on two occasions including the USD $8 million follow-on private placement the Company secured from a group of investors led by Debbie Chang, Co-Founder of Horizons Ventures (in her personal capacity). The May 31, 2022 Crain’s Cleveland Business article about the acquisition of ADCO by TAAT® was covered by Jeremy Nobile, who joined the publication in 2014 as a finance and legal affairs reporter.
The Crain’s Cleveland Business article can be accessed by clicking on the following link: https://www.crainscleveland.com/small-business/hemp-cigarette-maker-taat-buys-canton-company-bid-improve-us-sales
Crain’s Cleveland Business is one of four regional business publications under the umbrella of Crain Communications, a multinational business publishing firm based in Detroit, Michigan. Founded in 1916, Crain Communications currently delivers business news to more than 78 million readers annually3. Its other publications include AdAge, Automotive News, and the world’s leading institutional investing newspaper Pensions & Investments4. First published in March 19805, Crain’s Cleveland Business has more than 217,000 weekly readers6.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c907bc3a-5557-49fa-aebf-3e0ef08ba1da
Crain’s Cleveland Business is a major business publication with a focus on developments in and relating to the northern region of Ohio in the United States. In an article dated May 31, 2022, Crain’s Cleveland Business covered the acquisition of ADCO by TAAT®, which the Company officially announced the closing of in a press release dated May 20, 2022. The Crain’s Cleveland Business article can be accessed by clicking on the thumbnail above or by clicking here.
Readers using news aggregation services may be unable to view the media above. Please access SEDAR or the Investor Relations section of the Company’s website for a version of this press release containing all published media.
TAAT® Founder Joe Deighan commented, “As TAAT® becomes a more established brand in the tobacco category and starts to make bigger moves such as acquiring third-party distributors, it is a natural progression for us to start getting heightened attention from various media outlets. The concept of a nicotine-free and tobacco-free alternative to traditional cigarettes is still fairly novel, though over the past two years we have actively and organically grown awareness and understanding of TAAT® and Beyond Tobacco™ from a ‘product’ perspective, but more importantly as a mission to give current adult smokers a choice to keep the experiences they love while leaving nicotine behind. It is with this awareness and understanding that we have curated an attractive profile for media outlets who want to talk about TAAT® and what moves we’re making as a business. As such, we are very grateful for this media coverage by Crain’s Cleveland Business, putting us in the spotlight of the vibrant business scene of northern Ohio where we hope to begin doing considerably more business in the near future.”
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
Joe Deighan, COO and Director
For further information, please contact:
TAAT® Investor Relations1-833-TAAT-USA (1-833-822-8872)[email protected]
THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.
About TAAT® Global Alternatives Inc.
TAAT® develops, manufactures, and distributes alternative products in categories to include tobacco, hemp, kratom, and other emerging segments of the CPG industry. Its flagship product is a nicotine-free, tobacco-free cigarette with a patent-pending base material formulation, sold in over 2,700 U.S. stores. With over CAD $80 million in overall net revenue in 2021, TAAT®’s facilities include a manufacturing plant in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
For more information, please visit http://taatglobal.com.
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur, or be achieved. Forward-looking information in this news release includes statements regarding the anticipated performance of TAAT® in the tobacco industry, in addition to the following: Potential impact from the May 31, 2022 Crain’s Cleveland Business article about the Company’s acquisition of ADCO, potential growth of the Company’s business activities in the state of Ohio. The forward-looking information reflects management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed timeframes or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes to the growth and size of the tobacco markets; (iii) changes to the regulatory landscape applicable to the Company's business; and (iv) other factors beyond the control of the Company. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The statements in this news release have not been evaluated by Health Canada or the U.S. Food and Drug Administration. As each individual is different, the benefits, if any, of taking the Company’s products will vary from person to person. No claims or guarantees can be made as to the effects of the Company’s products on an individual’s health and well-being. The Company’s products are not intended to diagnose, treat, cure, or prevent any disease.
This news release may contain trademarked names of third-party entities (or their respective offerings with trademarked names) typically in reference to (i) relationships had by the Company with such third-party entities as referred to in this release and/or (ii) client/vendor/service provider parties whose relationship with the Company is/are referred to in this release. All rights to such trademarks are reserved by their respective owners or licensees.
Statement Regarding Third-Party Investor Relations Firms
Disclosures relating to investor relations firms retained by TAAT® Global Alternatives Inc. can be found under the Company's profile on http://sedar.com.
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