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”) has launched its “Beyond Nicotine™” initiative with an objective of emphasizing the absence of nicotine in its flagship product TAAT™, which is formulated to taste and smell similarly to tobacco despite containing no actual tobacco. On Monday, April 19, 2021, the Wall Street Journal published a report that the Biden administration in the United States is considering enacting a requirement for tobacco companies to reduce nicotine levels in all cigarettes sold nationwide to a level at which they would no longer be addictive1. According to a CNBC report later that day, which covered the apparent negative impact of this announcement on the stock prices of several major tobacco firms (e.g., Altria, British American Tobacco, Philip Morris International), the goal of reducing nicotine levels in cigarettes would be to encourage smokers to give up tobacco or choose alternatives that are considered safer2. In Q4 2020, the Company began commercializing TAAT™ in Ohio, followed by the launch of its e-commerce portal enabling the majority of smokers aged 21+ in the United States to purchase TAAT™ Original, Smooth, and Menthol online for home delivery.

Based on these impending regulations to lower nicotine levels in cigarettes sold in the United States, the Company has elected to launch Beyond Nicotine™ as an approach to building awareness of TAAT™ as a nicotine-free alternative to tobacco cigarettes for smokers aged 21+. In a press release dated April 14, 2021, the Company announced several key findings from a consumer research study which reflected positive reception of TAAT™, both in concept and as an actual product, which included nearly three quarters of subjects who sampled the product classifying the overall quality as “very good” or “somewhat good”. These sentiments largely reflect in-market performance of TAAT™ to date through in-store and online sales.

A graphic accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/03673a08-3a7c-4620-9424-f27874aa05ed

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