TAAT Lifestyle & Wellness [CSE:TAAT / FRA: 2TP2], the owner Beyond Tobacco, a non-nicotine alternative tobacco substance, has submitted its initial application to list on the NASDAQ Capital Market.
The company is already listed in Canada on the Canadian Securities Exchange and in Frankfurt. The NASDAQ listing should widen the scope of investors who can access the stock and will bring more visibility to TAAT. As a post-revenue company, TAAT has already been added to two indices of the Canadian Securities Exchange.
TAAT said that the listing of the common shares on NASDAQ would remain subject to review and approval of the new listing application and the satisfaction of the applicable listing and regulatory requirements.
“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,” said Setti Coscarella, CEO of TAAT. “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+.”
This is a big validation of TAAT’s increasing traction with the investor community. The company has been publicly traded for less than a year but is already gaining wider recognition with investors and with consumers.
A huge potential global market
TAAT has established its credentials as a provider of proprietary, non-nicotine cigarettes designed for smokers who want to wean themselves off the addictive qualities of tobacco. Spear-headed by Coscarella, a strategic thought leader in the tobacco world, the company has already rolled out its product with retailers in Ohio.
That launch came just weeks before the Biden administration confirmed it was mulling legislation to cap nicotine in tobacco products sold in the United States. TAAT is already moving to protect its core Beyond Tobacco material with patent applications in the US, just at a time when Big Tobacco firms are scrambling around looking for solutions.
It is a trend that Coscarella has already identified, seeing that vaping and nicotine patches were not having the desired effect for millions of smokers in North America who want to kick the habit.
Podcast with Joe Deighan, Founder and Director of Research, TAAT Lifestyle and Wellness
TAAT is now selling Beyond Tobacco through retail outlets in Ohio, which is one of the biggest state-level markets for tobacco products in the US. It is also available for online purchase in the US. Feedback from smokers has been very positive.
The company is also being backed by Asian family office and venture capital player Horizon Ventures, which has a track record of getting into game changing ventures at an early stage. Among Horizon’s successes are Skype and Facebook. Debbie Chang, co-founder of Horizons Ventures, coordinated the exercise of 5m share purchase warrants at a strike price of C$2.00 in December.
TAAT shares have also been upgraded from the OTCQB Venture Market to the OTCQX Best Market, the highest tier of markets operated by OTC Markets Group.