TAAT(TM) Global Alternatives (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) has announced an additional private placement of C$10 million. The company closed on the placement with a group of venture investors including Debbie Chang, cofounder of Horizons Ventures, in her personal capacity. The follow-on placement comes after an initial C$6.75 million investment announced by TAAT in October 2020. That placement involved the same investors and included an allotment of common share purchase warrants that were subsequently voluntarily exercised by the investors for additional proceeds of C$10 million later that year. All together, this investor group has invested an estimated C$26.7 million. The company noted that it has upgraded the placement of its shares with a move to the OTCQX(R) Best Market in the United States and the inclusion of its shares in the CSE Composite Index(R). “It is a wonderful validation for such prolific investors to be making a follow-on investment into TAAT as we continue our entry into the $814 billion global tobacco industry, with multiple international expansions already underway,” said TAAT CEO Setti Coscarella in the press release. “The investors’ initial investment in 2020 was instrumental to us reaching several of the milestones we have attained so far to include growing our manufacturing facilities, undertaking further research and development, placing TAAT in more than 1,000 stores in the United States, and organically establishing the TAAT brand as a well-known nicotine-free alternative to cigarettes for smokers aged 21+. Accordingly, we are confident that this additional investment can be a catalyst for our continued growth in both new and existing markets, and we are most grateful to the investors for their ongoing commitment to TAAT.”
To view the full press release, visit https://ibn.fm/Euxdw
About TAAT Global Alternatives Inc.
TAAT Global Alternatives 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(TM), a proprietary blend that 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 billion global tobacco industry. 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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