TAAT™ Chief Executive Officer Setti Coscarella c

TAAT™ Chief Executive Officer Setti Coscarella commented, “Given the amount of smokers aged 21+ who are actively looking for a better alternative to tobacco cigarettes, it is relatively easy to convert one-time initial purchases of just about any novel approach to delivering nicotine; whether that may be a vaping device, nicotine patches, or consumables such as gums and lozenges. While the companies who make these alternative solutions will often boast about their initial popularity, you won’t frequently hear them talking about whether or not that popularity was sustained. This is for the simple reason that these alternatives do not offer the sensory-motor experience of pulling, lighting up, smoking, flicking, extinguishing, and safely discarding a combustible stick. As such, smokers aged 21+ will often abandon these alternatives shortly after trying them in favour of returning to that experience, save for ‘Heat-not-Burn’ products which tend to have far higher retention rates compared to other alternatives to cigarettes. Because TAAT™ can offer a set of motions and sensations that are substantially similar to those enjoyed by smoking a tobacco cigarette, it is clear that many smokers aged 21+ who try switching to TAAT™ are sticking with it. This has been reflected by our rate of repeat wholesale orders, which currently makes up nearly half of our overall sales volume in the United States in the current fiscal quarter. With a steady stream of initial wholesale orders from new distributors, as well as direct-to-consumer orders from smokers aged 21+ in the United States, I am thrilled that we have matured to the point that we are building the width of our footprint by adding stores both domestically and internationally, while also deepening that footprint with sustained popularity of TAAT™ among current smokers. We believe this foreshadows an exciting year to be had in 2022 as we ramp up our commercialization efforts at a global level.”

https://money.tmx.com/en/quote/TAAT:LQN/news/...al_Q1_2022

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