LAS VEGAS and VANCOUVER, British Columbia, April 23, 2021 (GLOBE NEWSWIRE) — TAAT™ LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT™”) is pleased to announce that it has submitted an initial application for its common shares to be listed on the Nasdaq Capital Market in the United States, one of the three tiers of the Nasdaq Stock Market, operated by Nasdaq, Inc. in New York City. Last month, in a press release dated March 23, 2021, the Company announced its common shares had been upgraded from the OTCQB® Venture Market to the OTCQX® Best Market, the highest tier of markets operated by OTC Markets Group Inc., requiring a professional third-party sponsor introduction and several other conditions for eligibility.
Following consultations with advisors, legal counsel, and the Company’s Board of Directors, TAAT™ has submitted an initial application to Nasdaq, Inc. for its common shares to be listed on the Nasdaq Capital Market. More information regarding the listing application process can be found in the Nasdaq Initial Listing Guide at the following link: https://listingcenter.nasdaq.com/assets/initialguide.pdf
Potential benefits of the Company’s shares being listed on the Nasdaq Capital Market could include the following:
- Additional opportunities to attract institutional and retail investors, thus enabling the Company to expand its investor base in the United States and potentially globally;
- Greater visibility of the Company and its business activities, as well as its accomplishments to date and strategies for future growth;
- Potentially increased liquidity of the Company’s common shares; and
- Amplified overall market presence for the Company, which would stand to augment shareholder value
In a press release dated December 22, 2020, the Company announced that after it became a “post-revenue” company it had been added to two indices of the Canadian Securities Exchange (“CSE”), including the CSE Composite Index® as well as its subset CSE25™ Index, representing the top 25 companies of the CSE Composite Index® by market capitalization. More information about the CSE indices can be found at the following link: https://www.thecse.com/en/trading/market-activity/cse-indices
The listing of the Company’s common shares on the Nasdaq Capital Market remains subject to the review and approval of the initial listing application and the satisfaction of all applicable listing and regulatory requirements.
TAAT™ CEO Setti Coscarella commented, “Ever since TAAT™ became publicly traded on June 22, 2020, we have made great strides in our efforts to gain market share in the USD $814 billion global tobacco industry. Between listings in American and European markets, as well as our rapid ascension of the ranks in the OTC markets, I believe we have consistently strengthened our value proposition to investors around the world as a firm positioned to create long-term value in providing a better alternative to tobacco cigarettes for smokers aged 21+. We look forward to working with Nasdaq, Inc. in navigating this application process as I believe being listed on the Nasdaq Capital Market could considerably strengthen our long-term prospects as a public company.”
On behalf of the Board of Directors of the Company,
TAAT™ LIFESTYLE & WELLNESS LTD.
Setti Coscarella, CEO and Director
For further information, please contact:
TAAT™ Investor Relations
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™ Lifestyle & Wellness Ltd.
The Company has developed TAAT™, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in “Original”, “Smooth”, and “Menthol” varieties. TAAT™’s base material is Beyond Tobacco™, a proprietary blend which undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with “Big Tobacco” pedigree, TAAT™ was launched first in the United States in Q4 2020 as the Company seeks to position itself in the $814 billion1 global tobacco industry.
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 potential launch of Beyond Tobacco™, in addition to the following: Potential outcomes from the Company’s application to have its common shares listed on the Nasdaq Capital Market. 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 Firms
Disclosures relating to investor relations firms retained by TAAT™ Lifestyle & Wellness Ltd. can be found under the Company’s profile on http://sedar.com.