GET TOP RATED STOCK ALERTS ACTIVE TRADERS DEPEND ON
SIGN UP TODAY FOR FREE NEWS DRIVEN ALERTS
Las Vegas & Vancouver, BC – September 22, 2022 – TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) today announced its financial results for the three-month period ended July 31, 2022, its Fiscal Third Quarter of 2022 (referred to herein as “FQ3 2022”). A selection of highlights from the Company’s FQ3 2022 mandated filings is provided below. All monetary figures reported herein are in Canadian dollars unless specified otherwise.
TAAT® Fiscal Third Quarter 2022 Highlights
- Revenue of $17,473,223 resulting in a Gross Profit of $567,404 based on $16,905,819 as the Cost of Goods Sold;
- Growth of Total Assets to $23,383,865 reflecting an increase of 48.77% from the previous quarter, inclusive of $5,698,895 in Accounts Receivable and $5,119,919 in Inventory (showing growth of 233% and 131%, respectively, from the previous quarter);
- The Company’s acquisition of ADCO Distributors, Inc. (formerly a wholly-owned subsidiary of HLND Holdings, Inc.) successfully closed in May 2022, fortifying the Company’s portfolio of operations in the United States; and
- TAAT® steadily grew its retail footprint in specific geographies through strategic store and chain placements as well as regional advertising initiatives targeting adult smokers.
Complete disclosure of TAAT®’s FQ3 2022 performance including financial results and Management Discussion and Analysis (“MD&A”) can be found on the Company’s profile on SEDAR (http://www.sedar.com).
TAAT® Chief Executive Officer Michael Saxon commented, “I am very pleased with our results for FQ3 2022, as they reflect the many steps we have taken to fortify the financial landscape of the Company as an integrated innovator, manufacturer, and distributor of tobacco alternatives, legacy convenience offerings, and other emerging product categories. We continue to strategically commercialize TAAT® as a category-creator, which is now sold in thousands of stores between our U.S. and U.K. footprints, including placements in major convenience and gas chains. Together with our CFO Joel Dumaresq, we will be hosting the TAAT® FQ3 2022 earnings call at 4:30 pm (Eastern) on Wednesday, September 21, 2022, and we look forward to providing further details as well as answering questions from our investors.”
The Company is hosting an earnings call after today’s market hours led by Chief Executive Officer Michael Saxon and Chief Financial Officer Joel Dumaresq. Information regarding the event is listed below. After the conclusion of the event, a full recording will be made available on the Company’s YouTube channel.
Time and Date: 4:30 pm (Eastern) / 1:30 pm (Pacific) Wednesday, September 21, 2022
Duration: Approximately One Hour
Registration Link: https://services.choruscall.ca/DiamondPassRegistration/register?confirmationNumber=10020247&linkSecurityString=186dd6c341
Readers using news aggregation services may be unable to view the FQ3 2022 earnings call registration link originally published in this press release. Readers who cannot see a link above can access the version of this press release containing the link on the Company’s website or filed on SEDAR.
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Michael Saxon”
Michael Saxon, CEO and Director
For further information, please contact:
TAAT® Investor Relations
1-833-TAAT-USA (1-833-822-8872)
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 such as tobacco, hemp, kratom, and other emerging CPG segments. Its flagship product is a nicotine-free/tobacco-free combustible with a patent-pending base material formulation, sold in several thousand U.S. stores. With over CAD $80 million in overall gross revenue annually, TAAT®’s facilities include an operations centre in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
For more information, please visit http://taatglobal.com.
Forward-Looking Statements
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: Successful completion of the earnings call scheduled to take place at 4:30 pm (Eastern) on Wednesday, September 21, 2022, anticipated ongoing and future performance of the Company, potential outcomes following the Company’s FQ3 2022 performance. 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.
Source: TAAT® GLOBAL ALTERNATIVES INC.
This earnings call was originally scheduled to take place on Thursday, September 22, 2022 at 4:15 pm (Eastern). The earnings call to take place on Wednesday, September 21, 2022 at 4:30 pm (Eastern) replaces the originally scheduled event.
LAS VEGAS and VANCOUVER, British Columbia, Sept. 19, 2022 (GLOBE NEWSWIRE) — TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that it will host an earnings call on Wednesday, September 21, 2022 at 4:30 pm (Eastern) led by its Chief Executive Officer Michael Saxon and its Chief Financial Officer Joel Dumaresq. During this call, Mr. Saxon and Mr. Dumaresq will provide an overview of the Company’s financial performance during its Fiscal Third Quarter of 2022 (three-month period ended July 31, 2022, referred to herein as “FQ3 2022”), and summarize the Company’s business activities during the same period. A full recording of the call will be published on the Company’s website shortly after the event’s conclusion. Investors may submit questions in advance of Wednesday’s TAAT® FQ3 2022 earnings call by email to investor@taatglobal.com .
TAAT® Chief Executive Officer Michael Saxon commented, “After officially joining the TAAT® management team in June, I am pleased at the progress we have made in such a short time. This marks the first fiscal quarter in which ADCO is part of our operations. Additionally, we have made great progress with TAAT® in our focus markets, and look forward to sharing our progress with investors on Wednesday.”
At 4:30 pm (Eastern) on Wednesday, September 21, 2022, TAAT® will be hosting its FQ3 2022 earnings call led by CEO Michael Saxon and CFO Joel Dumaresq. A full recording of the call will be published shortly after its conclusion.
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.
The TAAT® FQ3 2022 earnings call is open to the public, free of charge. Registration for the TAAT® FQ3 2022 earnings call can be accessed by clicking on the following link: https://services.choruscall.ca/DiamondPassRegistration/register?confirmationNumber=10020247&linkSecurityString=186dd6c341
Readers using news aggregation services may be unable to view the FQ3 2022 earnings call registration link originally published in this press release. Readers who cannot see a link above can access the version of this press release containing the link on the Company’s website or filed on SEDAR.
Please note that the Company’s management may exercise discretion with respect to choosing whether or not to answer questions that may potentially involve confidential, proprietary, or competitive information. All questions must be submitted prior to the TAAT® FQ3 2022 earnings call.
For clarity, this earnings call was originally scheduled to take place on Thursday, September 22, 2022 at 4:15 pm (Eastern) as announced in the Company’s July 19, 2022 press release. The TAAT® FQ3 2022 earnings call to be held on Wednesday, September 21, 2022 at 4:30 pm (Eastern) officially replaces the originally scheduled event.
On behalf of the Board of Directors of the Company,
TAAT® GLOBAL ALTERNATIVES INC.
“Michael Saxon”
Michael Saxon, CEO and Director
For further information, please contact:
TAAT® Investor Relations
1-833-TAAT-USA (1-833-822-8872)
investor@taatglobal.com
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 such as tobacco, hemp, kratom, and other emerging CPG segments. Its flagship product is a nicotine-free/tobacco-free combustible with a patent-pending base material formulation, sold in several thousand U.S. stores. With over CAD $80 million in overall gross revenue annually, TAAT®’s facilities include an operations centre in Nevada, as well as a distribution centre and multiple convenience stores in Ohio.
For more information, please visit http://taatglobal.com .
Forward-Looking Statements
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: Occurrence of the TAAT® FQ3 2022 earnings call on Wednesday, September 21, 2022 as detailed in the press release. 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 .
Source: TAAT® GLOBAL ALTERNATIVES INC.
Sign Up for FREE
Stock Alerts from
to be the first to know when this emerging company issues Breaking News!
About TAAT® GLOBAL ALTERNATIVES INC.
A NICOTINE- & TOBACCO-FREE SMOKING EXPERIENCE
Disclaimer
FN Media Group LLC (FNMG) owns and operates FinancialNewsMedia.com (FNM) which is a third party publisher that disseminates electronic information through multiple online media channels. FNMG’s intended purposes are to deliver market updates and news alerts issued from private and publicly trading companies as well as providing coverage and increased awareness for companies that issue press to the public via online newswires. FNMG and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. The companies that are discussed in this release may or may not have approved the statements made in this release. Information in this release is derived from a variety of sources that may or may not include the referenced company’s publicly disseminated information. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. While this information is believed to be reliable, such reliability cannot be guaranteed. FNMG disclaims any and all liability as to the completeness or accuracy of the information contained and any omissions of material fact in this release. This release may contain technical inaccuracies or typographical errors. It is strongly recommended that any purchase or sale decision be discussed with a financial adviser, or a broker-dealer, or a member of any financial regulatory bodies. Investment in the securities of the companies discussed in this release is highly speculative and carries a high degree of risk. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. This release is not without bias, and is considered a conflict of interest if compensation has been received by FNMG for its dissemination. To comply with Section 17(b) of the Securities Act of 1933, FNMG shall always disclose any compensation it has received, or expects to receive in the future, for the dissemination of the information found herein on behalf of one or more of the companies mentioned in this release. For current services performed FNMG has been compensated forty five hundred dollars for TAAT® GLOBAL ALTERNATIVES INC. current news coverage by the company.
FNMG HOLDS NO SHARES OF TAAT® GLOBAL ALTERNATIVES INC.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.