TAAT(R) Global Alternatives (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) is reporting on several key initiatives, including the planned launch of its flagship product, TAAT(R) in Austria and its planned uplisting on the NASDAQ Capital Market. According to the update, the company has suspended the launch of TAAT in Austria indefinitely, based on the financial and marketing resources required to make the launch successful. The company noted that for now it is focusing on ongoing rollouts in existing markets. In addition, the company has also suspended its efforts to list its common shares on the NASDAQ Capital Market. In the update, the company noted that it is focused on strengthening its financial health, including migrating some production and fulfillment duties to third-party service providers, reducing staff to mitigate overhead expenses, and reviewing marketing initiatives for its product lines to increase sales with greater cost efficiency. “By reorganizing the company’s subsidiaries, we have been able to reduce our capital and labor burdens, which can allow the company to continue operations in the future,” said TAAT CEO Michael Saxon in the press release. “Much of our production was already outsourced to the East Coast of the United States, which has proven to be a beneficial configuration for the company’s operations. We look forward to providing an update with our fiscal Q2 2023 financials in the near future, as well as updates regarding any other potential material developments.”
To view the full press release, visit https://ibn.fm/iKUKa
About TAAT Global Alternatives Inc.
TAAT Global Alternatives is a vertically integrated consumer product and distribution company, generating more than C$90 million in overall gross revenue annually. TAAT is strategically expanding its product categories including tobacco and reduced-risk alternatives, hemp, kratom and other emerging CPG segments. TAAT facilities include a processing plant in Nevada as well as a distribution center in Canton, Ohio, leveraging existing retail shelf space and pipelines into national wholesale channels. For more information, please visit www.TAATGlobal.com.
NOTE TO INVESTORS: The latest news and updates relating to TOBAF are available in the company’s newsroom at https://ibn.fm/TOBAF
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