LAS VEGAS and VANCOUVER, April 19, 2024 – TheNewswire – TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTC: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) announces that it has entered into a debt settlement agreement (the “Settlement Agreement”) to fully settle outstanding debts owed to a creditor (the “Creditor”) for corporate back-office services rendered. Pursuant to the Settlement Agreement, the Company has agreed to issue an aggregate of 303,456 common shares (“Shares”) at a deemed price of $0.265 per Share, based on a 20-day VWAP (the “Share Settlement”).

 

The Company anticipates closing the Share Settlement on or about April 26, 2024. The Share Settlement will settle $80,415.88 in debts owed to the Creditor, which is a full settlement for the total amount of bona fide debts owed to the Creditor.

 

The board of directors of the Company has determined that it is in the best interests of the Company to settle the outstanding debts by the issuance of the Shares in order to preserve the Company's cash for working capital.

 

The Company will be relying on the “Employee, Executive Officer, Director and Consultant” exemption contained in section 2.24 (the “Exemption”) of National Instrument 45-106 - Prospectus Exemptions, to issue the Shares to the Creditor. The Canadian Securities Exchange has waived the requirement to impose a 4 month and one day hold period on the Shares.

 

On behalf of the Board of Directors of the Company,

 

TAAT® GLOBAL ALTERNATIVES INC.

 

“Michael Saxon”

 

Michael Saxon, CEO and Director

 

For further information, please contact:

 

TAAT® Investor Relations

1-833-TAAT-USA (1-833-822-8872)

investor@taatglobal.com

 

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® Global Alternatives Inc.

 

TAAT® is a vertically integrated consumer product and distribution company, generating more than CAD $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® has facilities to include a processing plant in Nevada as well as a distribution centre in Canton, Ohio, leveraging existing retail shelf space and pipelines into national wholesale channels.

 

For more information, please visit http://taatglobal.com.

 

Forward-Looking Statements

 

Certain information contained herein may constitute "forward-looking information" or "forward-looking statements" under Canadian securities legislation. Generally, forward-looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "could", "will", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variations including negative variations thereof of such words and phrases that refer to certain actions, events or results that may, occur or be taken or achieved. Such forward-looking statements, including but not limited to statements relating to the expected development and operations of the Company, statements concerning the timing, review, completion and filing of the Annual Filings as well as the duration of the MCTO, involve risks, uncertainties and other factors which may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation will not update any forward-looking statements or forward-looking information included herein, except as required by applicable securities laws.

 

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® Global Alternatives Inc. can be found under the Company's profile on http://sedarplus.ca.