- Leasing agreements provide a combined 28,483 square feet of space
- Additional space allows company to work towards several long-term business objectives
- Company eyeing R&D, in-house manufacturing, and formation of company divisions created to support strategic expansion plans
With its focus on continued growth and innovation, TAAT(TM) Global Alternatives (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP2) recently signed lease agreements for two facilities in Las Vegas; the buildings are located in the Hughes Airport Center business park, which is conveniently located near the McCarran International Airport (https://ibn.fm/CApMM).
In the announcement, TAAT noted that the agreements provide a combined 28,483 square feet of space, which the company intends to use for research and development, manufacturing, warehousing, and distribution management. The facilities will also provide office space for executives’ operational staff as well as ample room for conferences and other TAAT events.
“As the company begins to scale its market presence in 2021 following the recent announcement of a CAD $149,000 purchase order intended for distribution in the United Kingdom and Ireland, as well as sustained operations in Ohio and online across the United States through e-commerce, TAAT is proactively assembling an expanded corporate infrastructure to facilitate anticipated growth,” the announcement stated. “The company believes that with these facilities at its disposal, it will be better positioned to work towards several of its long-term business objectives.”
Those objectives include R&D, in-house manufacturing, a contact center and customer experience management center, as well as the formation of company divisions created to support the company’s strategic expansion plans. The new facilities provide space for internal labs dedicated to evaluating future iterations of the company’s flagship product, TAAT(TM), as well as additional products that may be developed.
In addition, the 250% increase in available space will allow the company to significantly grow its manufacturing process. Currently the company produces enough material for an estimated 680,000 10-pack cartons of TAAT a year; the 250% increase in available space provides room for significant production capability growth.
Other plans include establishing an internal contact center for current and prospective customers to reach out to TAAT, as well as global distribution division that would monitor distribution channels, prioritize shipment dispatching, gather market and supply chain intelligence, and work directly with warehouse personnel to optimize distribution operations. TAAT also anticipates needing office space for its growing number of employees, many working in new operational divisions that could include sales, marketing, digital content production, social media, event management and legal. The lease agreements also provide conference and meeting spaces to enable internal collaboration as well as for hosting meetings with clients, vendors, and service providers.
TAAT identified the Hughes Airport Center as an ideal location for the growing company because of its close proximity to the airport, which is the eighth busiest airport in the country, as well as I-15 and I-215, which provide easy access for transport of goods.
TAAT Lifestyle and Wellness has developed TAAT, a tobacco-free and nicotine-free alternative to traditional cigarettes available 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, visit the company’s websites at www.TryTAAT.com and 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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