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TAAT Lifestyle & Wellness Ltd. (MOLOF)

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Previous Close0.5889
Open0.6000
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Day's Range0.5745 - 0.6100
52 Week Range0.1000 - 3.3200
Volume25,214
Avg. Volume198,556
Market Cap37.404M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
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  • Taat Publishes Gallery of Commercial-Scale Production by Contract Tobacco Manufacturer in Preparation for Ohio Launch
    GlobeNewswire

    Taat Publishes Gallery of Commercial-Scale Production by Contract Tobacco Manufacturer in Preparation for Ohio Launch

    Taat Lifestyle & Wellness Ltd. – Photo 1 First commercial-scale batch of Taat in production at the Manufacturer’s facility Taat Lifestyle & Wellness Ltd. – Photo 2 First commercial-scale batch of Taat in production at the Manufacturer’s facility Taat Lifestyle & Wellness Ltd. – Photo 3 Assembly of new Taat “Original” packaging at the Manufacturer’s facilityThe inaugural commercial-scale production run of Taat in its updated product packaging is currently underway with the Company’s contract manufacturer, who also makes cigarettes for global and regional tobacco brands. In this press release and its corresponding media gallery, images and video footage of the Taat production process are shown to provide visibility into Taat’s manufacturing steps in advance of its launch in Ohio later this quarter. LAS VEGAS and VANCOUVER, British Columbia, Oct. 26, 2020 (GLOBE NEWSWIRE) -- TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “Taat”) is pleased to announce its contract manufacturing partner (the “Manufacturer”), has begun the inaugural commercial-scale production batch of Taat after receiving a supply of Beyond Tobacco™ base material from the Company. This batch will be packaged using an updated Taat pack design, substantially similar to the provisional pack designs published in the Company’s September 29, 2020 press release. Beginning in November 2020, when initial production of Taat is expected to be completed, inventory of Taat is to be shipped from the Manufacturer's warehouse to tobacco wholesalers in Ohio, who will then be able to fulfill orders for Taat from tobacco retailer accounts in the convenience channel.The Company has developed Beyond Tobacco™, which is the nicotine-free and tobacco-free base material of Taat, an alternative to traditional cigarettes. Other alternatives such as vaping and nicotine patches are frequently abandoned by current tobacco smokers in favour of tobacco cigarettes, which can often be attributed to the lack of sensorimotor stimulation derived from the physical act of smoking a cigarette. Taat has been meticulously engineered to closely replicate each and every aspect of the cigarette-smoking experience, including a combustible “stick” format, cigarette-style packaging, an enhanced volume of smoke exhaled, and a taste and smell similar to tobacco attained by way of a patent-pending refinement technique. The Company expects that Taat could appeal to current tobacco smokers of legal age who wish to keep the experience of smoking, while leaving nicotine behind.The Company has published a gallery of media showing various steps in the inaugural production run being undertaken by the Manufacturer. This gallery can be accessed on Taat’s website and social media channels, with select still images and an embedded video provided in this press release. At the request of the Manufacturer, certain items in this gallery may be cropped or redacted to conceal the Manufacturer’s proprietary practices as well as the identities of the global and regional tobacco brands for whom the Manufacturer also provides services.Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f2a404b7-7f33-4ad7-8e1c-3a646730209bhttps://www.globenewswire.com/NewsRoom/AttachmentNg/cff9aaeb-8236-42c8-9302-2763bca87d4dhttps://www.globenewswire.com/NewsRoom/AttachmentNg/4ba75b69-4dd8-400c-b298-18f85a4ea580Please click the links above or click here to access the video clip. Readers using news aggregation services may be unable to view the media above. Please access the Investor Relations section of the Company’s website for a version of this press release containing all published media.The Company has elected to publish this gallery to provide an exclusive firsthand glimpse into Taat’s manufacturing process. The current commercial-scale production run represents an important milestone in the Company’s journey as it brings Taat, a novel tobacco-free and nicotine-free alternative to traditional cigarettes, into mainstream tobacco retail channels in the United States with sufficient manufacturing capacity to satisfy potential demand. Following the completion of all Taat production scheduled to occur until approximately the end of November 2020, finished inventory of Taat is to be shipped from the Manufacturer’s warehouse to wholesalers in Ohio who can then fill orders placed by tobacco retailers upon Taat’s launch later this quarter.Taat Chief Executive Officer Setti Coscarella commented, “Obtaining commercial-scale production with a service provider such as the Manufacturer was one of my top priorities when I became Taat’s CEO at the end of July 2020. Because our business objective is to position Taat to compete with incumbent tobacco products which sell millions of packs per day in the United States alone, I knew that there were several prerequisites to being able to execute such a vision, including the ability to manufacture at a consistently high volume. Last month, we struck a deal with the Manufacturer that had very favourable pricing terms for them to produce Taat at a rate of up to 2,000 sticks per minute. Since then, we have received shipments of raw biomass which are being processed in-house to make the Beyond Tobacco™ base material, and we have procured an updated pack design which enables Taat’s shelf appearance to align with those of competing tobacco category products. The inaugural commercial-scale production run with the Manufacturer represents the culmination of these developments, which is a pivotal event leading up to the launch of Taat in Ohio.”On behalf of the Board of Directors of the Company,TAAT LIFESTYLE & WELLNESS LTD.“Setti Coscarella”Setti Coscarella, CEOFor further information, please contact:Taat Investor Relations 1-833-TAAT-USA (1-833-822-8872) investor@taatusa.comTHE CANADIAN SECURITIES EXCHANGE (CSE) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.About Taat Lifestyle & Wellness Ltd.Having developed Beyond Tobacco™, which contains no tobacco or nicotine, Taat’s objective is to introduce an innovative, experience-driven alternative to tobacco cigarettes for tobacco smokers who aspire to leave nicotine behind. Beyond Tobacco™, which is to be offered in “Original” and “Menthol” varieties, is designed to closely emulate every aspect of smoking a traditional cigarette. From the cigarette-style packaging and stick format, to the proprietary flavouring blend which imparts the flavour and scent of tobacco, to the draw sensation, and the amount of smoke exhaled, Beyond Tobacco™ has been meticulously engineered to enable smokers to continue enjoying the experience of smoking, while discontinuing nicotine intake. Taat plans to launch Beyond Tobacco™ in mid-Q4 2020 and is seeking to position itself in the USD $814 billion (2018)1 global tobacco industry to capitalize on the growing worldwide demand for alternatives to traditional cigarettes.For more information, please visit http://taatusa.com.References1 British American Tobacco - The Global MarketForward Looking StatementsThis 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 potential launch of Beyond Tobacco™, in addition to the following: Potential outcomes relating to the commercial-scale production of Taat by the Manufacturer. 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; and (iii) 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 FirmsDisclosures relating to investor relations firms retained by Taat Lifestyle & Wellness Ltd. can be found under the Company's profile on http://sedar.com.

  • Taat Announces Live Q&A Session with New CEO, Releases Production Overview Video
    GlobeNewswire

    Taat Announces Live Q&A Session with New CEO, Releases Production Overview Video

    Figure 1 Figure 1On Tuesday August 11, 2020 at 4:15 pm EDT, Taat CEO Setti Coscarella will be hosting a live teleconference session in which he will provide high-level commentary on the tobacco industry, in addition to insights about initial and long-term plans for the Company and its products. Subsequently, a question-and-answer session will be held in which participants can submit questions via the GoToWebinar platform. Advance submissions of questions can also be made by email to Taat’s investor relations department. Additionally, the Company has released a professionally-produced video showcasing the production process of Beyond Tobacco™ cigarettes in detail with narration by Taat founder Joe Deighan. LAS VEGAS and VANCOUVER, British Columbia, Aug. 07, 2020 (GLOBE NEWSWIRE) -- TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTC: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT”) is pleased to announce that following the appointment of ex-Philip Morris strategist Setti Coscarella as Taat’s Chief Executive Officer, the Company will be hosting a public teleconference in which Mr. Coscarella will discuss his initial and long-term plans for the Company and its products. Following this discussion, a live question-and-answer session will be held in which members of the public may submit questions for Mr. Coscarella. The teleconference, which will be hosted on GoToWebinar, is scheduled to begin at 4:15 pm EDT on Tuesday August 11, 2020. Advance questions for Mr. Coscarella may be submitted by email to investor@taatusa.com.On July 31, 2020, the Company announced that it had appointed Setti Coscarella as its Chief Executive Officer to provide expert leadership for the planned launch of Beyond Tobacco™ tobacco-free and nicotine-free cigarettes, which is set to occur in Q4 2020. Mr. Coscarella had recently resigned from a lead strategist position at Philip Morris, the world’s largest tobacco company. In this capacity, Mr. Coscarella created a dedicated business unit for Reduced Risk Products (“RRP”), which is one of Philip Morris’ fastest-growing categories globally. Additionally, Coscarella launched several initiatives that revolutionized how RRP is marketed in Canada. Along with his general business acumen from a career consisting of management consulting, investment banking, and entrepreneurship, Mr. Coscarella intends to leverage his leading knowledge of the RRP category to optimally execute the planned launch of Beyond Tobacco™ cigarettes.The provisional agenda of Tuesday’s teleconference with Setti Coscarella is outlined below: * Macro-level commentary on the tobacco industry and RRP category * Discussion of Mr. Coscarella’s objectives for the planned launch of Beyond Tobacco™ cigarettes * Updates regarding the state of research and development for Beyond Tobacco™ cigarettes * Overview of contemplated early-stage markets and sales channels for Beyond Tobacco™ cigarettes * Question-and-answer sessionIndividuals who are interested in participating in the teleconference may register using the following link: https://attendee.gotowebinar.com/register/4383548759526193165The Company has also released a comprehensive video overview of the manufacturing process for Beyond Tobacco™ cigarettes, featuring commentary from Taat founder Joe Deighan. This video, which was professionally produced with an emphasis on capturing intricate details of each manufacturing step, is intended to provide greater insight into how Beyond Tobacco™ cigarettes are made. Interested parties may view the video by clicking below, or by accessing the following URL: https://www.youtube.com/watch?v=t_ydboQNnHg&feature=youtu.beA photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ced0101c-ee3a-47cf-b92c-8fa256badb40Setti Coscarella, CEO of Taat commented, “As we get closer to the planned launch of Beyond Tobacco™ cigarettes, I know that there are many questions from investors and the general public alike. Having been part of the Company for a week now, I have come to discover many exciting things about the product and what kind of opportunities it has in today’s market. Many companies have had no problem getting smokers to try various alternatives to smoking cigarettes… but the common struggle they have faced is getting smokers to continue using those alternatives. Delivering a far superior molecule to nicotine using a combustible stick format that we expect to be familiar for cigarette smokers are two key things that I believe can cultivate long-term popularity of Beyond Tobacco™ cigarettes. I look forward to answering questions from the public on Tuesday’s teleconference as we lead up to the planned Q4 2020 product launch.”On behalf of the Board of Directors of the Company,TAAT LIFESTYLE & WELLNESS LTD.“Setti Coscarella”Setti Coscarella, CEOFor further information, please contact:Jamie Frawley 1-833-TAAT-USA (1-833-822-8872) investor@taatusa.comAbout Taat Lifestyle & Wellness Ltd.Taat Herb Co., the flagship brand of Taat Lifestyle & Wellness, is an early-stage life sciences company based in Las Vegas, Nevada innovating nicotine-free and tobacco-free alternatives to traditional cigarettes. With a unique proprietary blend of all-natural ingredients and meticulous engineering of the user experience, Taat Beyond Tobacco™ cigarettes are designed to emulate every aspect of legacy tobacco products with no significant difference to the user. Taat Beyond Tobacco™ cigarettes provide benefits that include mitigation of tobacco withdrawals, and reduction of tobacco dependency. With an expert-led go-to-market strategy, the Company's objective is to position itself in the US $814 billion (2018)1 global tobacco industry to capitalize on the growing worldwide demand for better-for-you alternatives to traditional cigarettes.For more information, please visit http://taatusa.com.References1 British American Tobacco - The Global MarketThis news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.Forward Looking StatementsThis 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 potential launch of Taat hemp cigarettes, in addition to the following: The occurrence of the teleconference with Setti Coscarella as described in this 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 and CBD markets; and (iii) 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 FirmsDisclosures relating to investor relations firms retained by Taat Lifestyle & Wellness Ltd. can be found under the Company's profile on http://sedar.com.

  • From Big Tobacco to Beyond Tobacco™: Ex-Philip Morris Strategist Appointed CEO of Taat
    GlobeNewswire

    From Big Tobacco to Beyond Tobacco™: Ex-Philip Morris Strategist Appointed CEO of Taat

    Picture 1 Taat CEO Setti Coscarella holding a Beyond Tobacco™ “Original” cigarette packAfter resigning as a lead strategist at Philip Morris International, the world’s largest tobacco company, Setti Coscarella has been appointed Chief Executive Officer of Taat as it approaches the planned launch of Beyond Tobacco™ cigarettes. At Philip Morris, Coscarella led a commercialization team for its Reduced Risk Products (“RRP”) portfolio and launched a new business unit as well as several initiatives that transformed how RRPs are marketed in Canada. The Company believes that Coscarella’s experience with RRPs is especially relevant to Beyond Tobacco™ given their substantially similar target markets. Over the course of this summer, Taat has announced many developments relating to Beyond Tobacco™ including positive results from initial retail market testing, a successful test production run, and agreements with two U.S. distributors. Taat anticipates that Mr. Coscarella’s leadership can maximize the early-stage and long-term performance of Beyond Tobacco™ following its planned launch. LAS VEGAS and VANCOUVER, British Columbia, Aug. 04, 2020 (GLOBE NEWSWIRE) -- TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTC: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “Taat”) is delighted to announce that it has appointed Setti Coscarella, who recently resigned as a lead strategist at Philip Morris International (“Philip Morris”), to lead Taat as its Chief Executive Officer as the Company prepares for the planned Q4 2020 launch of Beyond Tobacco™ cigarettes. Holding an MBA from the Schulich School of Business, Mr. Coscarella’s professional experience includes analyst and investment banking roles at three of Canada’s “Big Five” financial institutions, as well as positions in private equity and management consulting. Coscarella also co-founded The Gentlemen’s Expo (“TGE”), an annual consumer show in Toronto that attracts more than 25,000 attendees each year. During his tenure at Philip Morris, Coscarella led a commercialization team and was a lead strategist for Reduced Risk Products (“RRP”), an emerging category in the tobacco industry to provide alternatives for smokers to reduce their exposure to contents of traditional nicotine-based products that are known to be harmful. The Company believes that Mr. Coscarella is uniquely suited to the CEO role given his proven track record in finance, management, and entrepreneurship, as well as his familiarity with the tobacco industry from the perspective of its biggest player.In its June 22, 2020 press release, the Company announced it was planning on launching Beyond Tobacco™ cigarettes as a better-for-you alternative to tobacco cigarettes that contains no nicotine or tobacco. The intended value proposition of Beyond Tobacco™ cigarettes is to offer a user experience that closely resembles the experience of smoking a traditional cigarette, which the Company has sought to achieve with a traditional “stick” format and cigarette-style packaging that it expects to be familiar to smokers. A proprietary blend of tobacco flavouring and an enhanced volume of smoke exhaled are designed to make the experience of smoking a Beyond Tobacco™ cigarette substantially similar to that of smoking a tobacco cigarette. Each stick of Beyond Tobacco™ contains at least 50mg of cannabidiol (“CBD”, a non-psychoactive derivative of hemp), which has been shown to mitigate tobacco withdrawals and reduce dependency upon tobacco. Beyond Tobacco™ is to be offered in an “Original” variety as well as a “Menthol” variety.Mr. Coscarella’s professional career began at Scotiabank, where he was a risk management analyst for commercial credit. In subsequent years, Coscarella pivoted to a financial analyst role at CIBC, and then to investment banking at TD Securities where he conducted research and built financial models relating to company valuations for M&A, IPOs, and secondary public offerings. Coscarella then founded the Toronto-based boutique advisory firm Severus where he provided management consulting services to mid-sized companies to assist with growth, structuring, and financing. Building upon his M&A experience, Coscarella was appointed director of corporate development for GL Capital Corp. (“GLCC”) where he administered the development of its investment portfolio consisting of assets to include real estate, operating companies, and equity in newly-launched startups. Coscarella centralized the “back office” functions of GLCC’s companies to improve overall efficiency of operations. Coscarella also developed innovative commercialization efforts resulting in 30% year-over-year revenue growth. In 2012 Coscarella co-founded TGE, which quickly became regarded as a high-profile men’s lifestyle consumer show in Toronto. Prior to the show being acquired by a large expo producer in 2016, Coscarella built a roster of more than 200 vendors and sponsors (including L’Oreal, Loblaws, Diageo, InBev, and OLG), and grew TGE’s attendance from 3,000 in 2012 to 25,000 in 2016.In 2017, Coscarella joined Philip Morris in its Toronto office to lead a commercialization team for its RRP portfolio. In this capacity at Philip Morris, Coscarella rapidly ascended the ranks and began advising the senior executive team on innovative strategies for navigating the route into the Canadian market for the RRP category, which is one of Philip Morris’ fastest-growing categories globally. His leadership and execution led to the launch of numerous successful initiatives that collectively yielded a fivefold increase in leads and purchases for RRP. Between these initiatives and a new business unit created by Coscarella dedicated to the commercialization of RRP in Canada’s challenging regulatory environment, Mr. Coscarella played a significant role in revolutionizing how RRP is marketed in Canada.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ab8a7d02-bed5-4798-a065-58b9b6fc2905The history of the Philip Morris global tobacco conglomerate dates back to 1847, when its founder opened a tobacco shop in London, England. Over time, Philip Morris expanded into numerous markets internationally. As of 2020 it is the world’s largest tobacco company with USD $79.82 billion annual revenue (20181) and the largest or second-largest market share position in several of more than 180 total markets served by Philip Morris. Well-known cigarette brands of Philip Morris include Marlboro (the 1 cigarette brand since 1972), L&M (4th best-selling cigarette outside of U.S. and China), Chesterfield, and its eponymous Philip Morris brand of cigarettes. Alongside competitors Altria, British American Tobacco, Imperial Brands, and Japan Tobacco International, Philip Morris is one of the five tobacco firms that comprise what is known as “Big Tobacco”.In the Company’s June 29, 2020 press release, it detailed the results of its first phase of retail market testing in which test versions of Beyond Tobacco™ cigarettes were sold in more than 50 retail stores in Nevada and California. The sentiments of users consistently reflected the impression that the experience of smoking a Beyond Tobacco™ cigarette was comparable to that of a traditional cigarette with no significant experiential differences. During this research phase, more than 75% of participating retailers re-ordered Beyond Tobacco™ after their initial inventory sold out. The Company later announced that an intensive series of focus groups conducted by Nevada’s largest consumer product testing firm will be conducted to obtain further insights prior to the planned launch of Beyond Tobacco™. Additionally, in its July 20, 2020 press release the Company unveiled live-action footage of a full-scale test production run of Beyond Tobacco™ in its cigarette production facility. This test run confirmed initial production capacity estimations of one million sticks per day which, on an annualized basis, equates to 0.168% of the total amount of individual cigarettes sold domestically in 2018 according to data from the Federal Trade Commission2. With very few hurdles preceding the official launch of Beyond Tobacco™, the Company believes the induction of Mr. Coscarella as its CEO is a timely development that can potentially maximize the performance of the anticipated product launch.“Becoming CEO of Taat is an incredible opportunity for me,” said Mr. Coscarella. “For a matter of decades, public attitudes towards tobacco have consistently called for a less-risky alternative to traditional cigarettes. This is something that Philip Morris recognized with its attention to the RRP category, as well as its Unsmoke campaign. What appealed to me about Taat is how they have developed Beyond Tobacco™ to be a cigarette alternative that is designed to emulate a tobacco cigarette, but without any tobacco or nicotine. Other consumer product categories have had their legacy incumbents disrupted by innovations in delivering desirable alternatives for meat, dairy, sugar, and even beer and wine. Consumers seem to be embracing this approach to positive changes in which they keep their habits such as eating meat or drinking milk while quietly cutting out the things they wish to avoid, and I believe this trend can carry over to tobacco as well. Over one billion tobacco users worldwide3 have one thing in common; they are consuming nicotine, a drug that is effectively useless. The molecule in our tobacco-free and nicotine-free cigarettes is delivered in a near-identical format to legacy tobacco products, and I strongly believe that smokers would be eager to make the switch if presented with the option. The early-stage market research results for Beyond Tobacco™ reflect an extraordinary reception of the product among smokers, and I am very eager to be in the driver’s seat of Taat as we approach the planned launch of Beyond Tobacco™ in Q4 2020.”With the appointment of Setti Coscarella as the Company's Chief Executive Officer, Mr. Coscarella has succeeded Joel Dumaresq in this position. Following this succession, Mr. Dumaresq will assume the role of CFO and Theo van der Linde will step down from his position as CFO of the Company. Taat is grateful for the contributions made by Mr. van der Linde to the Company and provides its best wishes to Mr. van der Linde for his future endeavours.References1 - http://media.corporate-ir.net/media_files/IROL/14/146476/PMI-FINALFILES/pdf/PMI_2018_CompleteForm10K.pdf (Page 14)2 - Table 1B (Page 13) of the FTC’s Cigarette Report for 2018 indicates that 216.9 billion cigarette units were sold domestically in 2018. Based on a projected production capacity of one million Beyond Tobacco™ sticks per day (365 million sticks per year), it is concluded that this annualized capacity equates to 0.168% of cigarette units sold domestically in the year 2018. https://www.ftc.gov/system/files/documents/reports/federal-trade-commission-cigarette-report-2018-smokeless-tobacco-report-2018/p114508cigarettereport2018.pdf3 - https://www.who.int/news-room/fact-sheets/detail/tobaccoOn behalf of the Board of Directors of the Company,TAAT LIFESTYLE & WELLNESS LTD.“Setti Coscarella”Setti Coscarella, CEOFor further information, please contact:Jamie Frawley 1-833-TAAT-USA (1-833-822-8872) investor@taatusa.comAbout Taat Lifestyle & Wellness Ltd.Taat Herb Co., the flagship brand of Taat Lifestyle & Wellness, is an early-stage life sciences company based in Las Vegas, Nevada innovating nicotine-free and tobacco-free alternatives to traditional cigarettes. With a unique proprietary blend of all-natural ingredients and meticulous engineering of the user experience, Taat Beyond Tobacco™ cigarettes are designed to emulate every aspect of legacy tobacco products with no significant difference to the user. Taat Beyond Tobacco™ cigarettes provide benefits that include mitigation of tobacco withdrawals, and reduction of tobacco dependency. With an expert-led go-to-market strategy, the Company's objective is to position itself in the US $814 billion (2018)1 global tobacco industry to capitalize on the growing worldwide demand for better-for-you alternatives to traditional cigarettes.For more information, please visit http://taatusa.com.References1 British American Tobacco - The Global MarketStatement Regarding Effects of CBD on Smoking CessationThe Beckley/Exeter research program (University of Exeter) carried out a pilot study that found after several weeks following cannabidiol ("CBD") treatment, CBD helped tobacco smokers to reduce the amount of cigarettes smoked by as much as 40%. A follow-on study is planned, which will include a brain imaging component to examine the brain activity patterns underlying the probable therapeutic effects of CBD.Source: https://beckleyfoundation.org/cbd-for-smoking-cessation/ Link to Study: https://www.sciencedirect.com/science/article/abs/pii/S030646031300083XForward Looking StatementsThis 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 potential launch of Taat hemp cigarettes, in addition to the following: Potential outcomes from the appointment of Setti Coscarella as the Company’s Chief Executive Officer. 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 and CBD markets; and (iii) 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 FirmsDisclosures relating to investor relations firms retained by Taat Lifestyle & Wellness Ltd. can be found under the Company's profile on http://sedar.com.