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Redwood’s flagship hemp cigarette. Retails for US $16.00 (20 pack). Common score of 4.82/5 stars from 130 person critiques on Redwood’s on-line retailer.
Oregon-based Redwood is a “seed-to-smoke” hemp firm that provides a lineup of premium, high-quality smokable merchandise made with its personal organically-grown hemp. Redwood’s product choice is carried in additional than 1,600 U.S. retail shops, which the Firm intends to leverage to make Past Tobacco™ out there to a wider viewers of outlets upon its much-anticipated launch deliberate to happen in This autumn 2020. On account of the proposed acquisition, TAAT plans to learn from Redwood’s broad manufacturing capability and probably cut back the price of producing Past Tobacco™ by as a lot as 50%. Additional data relating to this acquisition will probably be shared in a public convention name to be held at 3:00 pm PDT / 6:00 pm EDT at the moment.
LAS VEGAS and VANCOUVER, British Columbia, July 13, 2020 (GLOBE NEWSWIRE) — TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (FRANKFURT: 2TP2) (the “Firm” or “TAAT”) is happy to announce that it has entered right into a letter of intent dated July 10, 2020 to accumulate Redwood Reserves Ltd. (“Redwood”), one of many largest and best-established U.S. hemp cigarette manufacturers, for an acquisition value consisting of $1,155,000 and a pair of,390,000 widespread shares within the capital of TAAT. This strategic acquisition is meant to offer cheaper manufacturing capability to TAAT, along with gaining a longtime direct distribution community by way of which Past Tobacco™ cigarettes are deliberate to be provided to Redwood’s intensive community of outlets. As Redwood’s product line is presently being bought in additional than 1,600 U.S. smoke retailers and comfort shops, carried by a number of distributors, and bought by way of Redwood’s on-line retailer, the Firm will notice money stream from Redwood’s continued enterprise actions following the proposed acquisition. Moreover, the Firm believes that Redwood’s product choices can complement TAAT’s Past Tobacco™ product upon the deliberate This autumn 2020 product launch.
Topic to a definitive settlement, which the events have agreed to proceed with diligently and in good religion to barter and settle the phrases for execution on or earlier than July 31, 2020, TAAT will purchase 100% of Redwood, leading to Redwood changing into a 100% subsidiary of the Firm. The acquisition of Redwood is topic to customary circumstances of closing, together with with out limitation, the passable completion of due diligence by each events and the receipt of relevant regulatory and governmental approvals.
Based in Portland, OR in 2019, Redwood produces hemp merchandise which might be characterised by an natural rising course of, and the distinctive horticultural properties of Oregon’s Willamette Valley that are mentioned to yield hemp of outstanding high quality. Its “seed-to-smoke” manufacturing chain permits for full visibility into each step of a Redwood hemp product’s journey to take care of the excessive normal that has earned Redwood a sterling fame within the hemp business. Except for its flagship proprietary mix hemp cigarette merchandise bought in a “stick” format and cigarette-style packaging (proven beneath), Redwood additionally provides pre-rolled hemp in a “joint” format, in addition to “kief”, and numerous sorts of single-gram “dabs” and flowers in 3.5g and 7g models. Redwood has developed three proprietary hemp strains to incorporate Carolina Dream, Golden Redwood, and Wild Bourbon. All proprietary strains, in addition to the Redwood Reserve mix have undergone separate laboratory exams carried out by Assured Hashish, to offer customers a complete overview of their respective qualities. Redwood’s laboratory reviews could be accessed on the following hyperlink: https://redwoodreserves.com/lab-reports/
A photograph accompanying this announcement is obtainable at https://www.globenewswire.com/NewsRoom/AttachmentNg/f48b8301-ce56-4d9b-9889-8ebc6cffc1bb
Up to now, Redwood has established a presence in additional than 1,600 U.S. retail shops to incorporate shops in main markets resembling New York Metropolis, Los Angeles, Dallas, Chicago, Boston, and San Francisco. Previously six months, Redwood has shaped agreements with multiple dozen nationwide and regional distribution corporations to produce Redwood hemp merchandise to retailers all through america. Redwood presently has open dialogues with extra distribution corporations during which new distributorship is being contemplated, to probably additional broaden Redwood’s retail market attain.
By way of strategic SEO, Redwood has gained important on-line visibility, even with out using pay-per-click promoting. As of this writing, Redwood’s web site advantages from top-level visibility within the Featured Snippets part of Google search outcomes for search phrases to incorporate “advantages of CBD cigarettes” (proven beneath). Furthermore, gross sales volumes on Redwood’s on-line retailer skilled notable current progress, with June 2020 gross sales 421% greater than gross sales for the month of November 2019, following the web retailer’s launch in October 2019.
Redwood is operated beneath the administration of its co-founders, Ana Redwood and Dennis Grayson. Ms. Redwood, whose household owns Redwood Household Farms (provider of premium hemp plant materials to Redwood) holds the Chief Working Officer function at Redwood. Looking for to embrace the “farm-to-shelf” mannequin as a technique of making certain product integrity, Ms. Redwood additionally based medicinal hemp agency USA Hemp, which later expanded into South America by way of its USA Hemp Brazil division, supplying medicinal hemp that’s presently being prescribed by Brazilian docs. Mr. Grayson, who’s Redwood’s Chief Government Officer, has an in depth entrepreneurial background within the hospitality, land improvement, and drinks industries. Grayson entered the hemp business in 2015 and rapidly ascended to the place of Enterprise Growth Supervisor at Xanthic Biopharma previous to co-founding Redwood.
TAAT’s addition of Redwood to its model portfolio by means of this acquisition is anticipated to offer a number of advantages to the Firm:
- Manufacturing Capability: TAAT estimates that the manufacturing prices of Past Tobacco™ could be decreased by as a lot as 50% with its entry to Redwood’s highly-efficient manufacturing system. Moreover, new manufacturing capability can improve TAAT’s total provide bandwidth, giving it the potential to fill a larger quantity of orders upon the deliberate launch of Past Tobacco™ cigarettes.
- Proprietary Smoking Cessation Insights: Much like Past Tobacco™, Redwood has positioned its hemp cigarettes as being probably useful to tobacco customers who want to give up smoking, on account of the distinctive properties of cannabidiol (“CBD”, a non-psychoactive by-product of hemp) which has been proven to be useful in facilitating tobacco quitting makes an attempt. In June 2019, Redwood revealed a examine of the advantages of hemp cigarettes for smoking cessation, which included testimonials and quite a few success tales from Redwood hemp cigarette customers who used the product to cut back or remove their dependence upon conventional tobacco cigarettes. Because the manufacturing of Past Tobacco™ hemp cigarettes is presently in its preliminary phases, proprietary insights referring to Redwood hemp cigarettes may very well be utilized to late-stage revisions of Past Tobacco™ to probably improve the product. Redwood’s June 2019 examine could be accessed on the following hyperlink: https://redwoodreserves.com/quit-smoking-with-cbd-cigarettes/
- Money Circulation: As a result of Redwood hemp merchandise are presently bought in additional than 1,600 shops all through the U.S. along with gross sales by way of Redwood’s on-line retailer, the Firm’s acquisition of Redwood will present extra gross sales and money stream to TAAT from Redwood’s enterprise being carried out as traditional.
Redwood Co-Founder and CEO Dennis Grayson commented, “The emergence of the hemp business in america befell very quickly, and constructing the Redwood model as an icon of Oregon’s one-of-a-kind hemp ecosystem was very thrilling to do. We took a boutique-style method to curating a lineup of artisanal and natural hemp merchandise in order that we might provide our prospects a lifestyle-driven model that gives an unforgettable expertise. This acquisition cope with TAAT displays each how far we’ve come as a enterprise, and the way bustling our business has grow to be with the numerous fashionable purposes of hemp, whether or not leisure or medicinal. TAAT is on the verge of introducing its Past Tobacco™ line of hemp cigarettes, which we firmly consider is ideally positioned to compete successfully within the US $814 billion worldwide tobacco cigarette market. TAAT has already achieved very robust momentum even earlier than the official launch of Past Tobacco™, and we’re delighted for the Redwood model and merchandise to be a part of that.”
“We’re smitten by buying Redwood for a lot of causes”, mentioned Joe Deighan, Founding father of TAAT. “Their organically-grown proprietary strains of hemp have earned Redwood a loyal base of followers, along with robust relationships with retailers and distributors. Except for that, getting access to their manufacturing capability can enhance our manufacturing timelines for Past Tobacco™ and cut back prices significantly. Thus, bringing Redwood beneath TAAT’s umbrella is each an operational play for the Firm itself, along with a advertising and marketing play to capitalize on the model recognition of a confirmed and profitable seed-to-smoke hemp firm beneath nice management. I consider Past Tobacco™ can prosper in mixed advertising and marketing and distribution efforts with Redwood’s product line, which is already extremely sought-after. We stay up for exploring these synergies as we get nearer to the deliberate This autumn 2020 launch of Past Tobacco™.”
At 3:00 pm PDT / 6:00 pm EDT on Monday July 13, 2020, the Firm will probably be holding a public convention name to offer extra data relating to its acquisition settlement with Redwood as described on this press launch. Dial-in data for this convention name is supplied beneath.
Date and Time: Monday July 13, 2020 at 3:00 pm PDT / 6:00 pm EDT
Native Phone: 416-775-3670
Toll-Free Phone: 1-888-978-2635
Convention ID: 146574
This information launch doesn’t represent a proposal to promote or a solicitation of a proposal to promote any of the securities in america. The securities haven’t been and won’t be registered beneath the U.S. Securities Act of 1933 (the “U.S. Securities Act”) or any state securities legal guidelines and will not be supplied or bought inside america or to U.S. Individuals (as outlined in Regulation S beneath the U.S. Securities Act) until registered beneath the U.S. Securities Act and relevant state securities legal guidelines or an exemption from such registration is obtainable.
On behalf of the Board of Administrators of the Firm,
TAAT LIFESTYLE & WELLNESS LTD.
Joel Dumaresq, CEO and Director
For additional data, please contact:
About TAAT Way of life & Wellness Ltd.
Taat Herb Co., the flagship model of Taat Way of life & Wellness, is an early-stage life sciences firm primarily based in Las Vegas, Nevada innovating nicotine-free and tobacco-free options to conventional cigarettes. With a singular proprietary mix of all-natural substances and meticulous engineering of the person expertise, Taat Past Tobacco™ cigarettes are designed to emulate each side of legacy tobacco merchandise with no important distinction to the person. Taat Past Tobacco™ cigarettes present advantages that embody mitigation of tobacco withdrawals, and discount of tobacco dependency. With an expert-led go-to-market technique, the Firm’s goal is to place itself within the US $814 billion (2018)1 international tobacco business to capitalize on the rising worldwide demand for better-for-you options to conventional cigarettes.
For extra data, please go to http://taatusa.com.
Assertion Concerning Results of CBD on Smoking Cessation
The Beckley/Exeter analysis program (College of Exeter) carried out a pilot examine that discovered after a number of weeks following cannabidiol (“CBD”) therapy, CBD helped tobacco people who smoke to cut back the quantity of cigarettes smoked by as a lot as 40%. A follow-on examine is deliberate, which can embody a mind imaging element to look at the mind exercise patterns underlying the possible therapeutic results of CBD.
Hyperlink to Research: https://www.sciencedirect.com/science/article/abs/pii/S030646031300083X
Ahead Trying Statements
This information launch incorporates “forward-looking data” inside the which means of relevant Canadian securities laws. Typically, however not all the time, forward-looking data and data could be recognized by means of phrases resembling “plans”, “expects” or “doesn’t count on”, “is anticipated”, “estimates”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “might”, “might”, “would”, “may” or “will” be taken, happen, or be achieved. Ahead-looking data on this information launch consists of statements relating to the potential launch of Taat hemp cigarettes, along with the next: Pending or anticipated occasions referring to the Firm’s acquisition of Redwood, sustained efficiency of Redwood following its acquisition, anticipated advantages to the Firm from Redwood’s manufacturing capability and distribution community, and modifications to native, state and federal laws referring to the enterprise of Redwood. The forward-looking data displays administration’s present expectations primarily based on data presently out there and are topic to quite a lot of dangers and uncertainties that will trigger outcomes to vary materially from these mentioned within the forward-looking data. Though the Firm believes that the assumptions and elements utilized in getting ready the forward-looking data are cheap, undue reliance shouldn’t be positioned on such data and no assurance could be on condition that such occasions will happen within the disclosed timeframes or in any respect. Components that would trigger precise outcomes or occasions to vary materially from present expectations embody: (i) hostile market circumstances; (ii) modifications to the expansion and measurement of the tobacco and CBD markets; and (iii) different elements past the management of the Firm. The Firm operates in a quickly evolving surroundings. New danger elements emerge every so often, and it’s inconceivable for the Firm’s administration to foretell all danger elements, nor can the Firm assess the influence of all elements on Firm’s enterprise or the extent to which any issue, or mixture of things, might trigger precise outcomes to vary from these contained in any forward-looking data. The forward-looking data included on this information launch are made as of the date of this information launch and the Firm expressly disclaims any intention or obligation to replace or revise any forward-looking data whether or not on account of new data, future occasions or in any other case, besides as required by relevant regulation.
The statements on this information launch haven’t been evaluated by Well being Canada or the U.S. Meals and Drug Administration. As every particular person is completely different, the advantages, if any, of taking the Firm’s merchandise will range from individual to individual. No claims or ensures could be made as to the results of the Firm’s merchandise on a person’s well being and well-being. The Firm’s merchandise will not be supposed to diagnose, deal with, treatment, or forestall any illness.
This information launch might comprise trademarked names of third-party entities (or their respective choices with trademarked names) usually in reference to (i) relationships had by the Firm with such third-party entities as referred to on this launch and/or (ii) consumer/vendor/service supplier events whose relationship with the Firm is/are referred to on this launch. All rights to such logos are reserved by their respective house owners or licensees.