"Going Beyond": Seasoned Ex-Philip Morris Commercialization Executive Tim Corkum Appointed Chief Revenue Officer of Taat

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To lead commercialization efforts for Beyond Tobacco™ cigarettes, Taat has appointed Tim Corkum as its Chief Revenue Officer. Corkum, who spent more than 20 years working for Philip Morris in the Caribbean and in Canada, is a recognized industry leader in the commercialization of cigarette products as well as Reduced Risk Products. In addition to his executive positions at Philip Morris, Corkum has also held several account manager roles to include National Manager of Key Accounts, in which Corkum created a contracting and trade marketing strategy that was adapted by Philip Morris at a global level and recognized as an emerging best practice.

LAS VEGAS and VANCOUVER, British Columbia, Aug. 21, 2020 (GLOBE NEWSWIRE) — TAAT LIFESTYLE & WELLNESS LTD. (CSE:TAAT) (OTC:TOBAF) (FRANKFURT: 2TP2) (the “Company” or “Taat”) is pleased to announce that it has added another alumnus of Philip Morris International (“Philip Morris”) to its top management team by appointing Tim Corkum to the Company's Chief Revenue Officer role, in which Corkum plans to apply his extensive knowledge of commercialization to form and navigate the route to market for Beyond Tobacco™ cigarettes. From 1998 to 2019, Mr. Corkum held various positions in sales, trade marketing, corporate affairs, and business development at Philip Morris affiliates in Canada (Rothmans, Benson & Hedges) and the Caribbean. Beginning in 2016, Corkum was a Director for Philip Morris' Reduced Risk Products (“RRP”) category with its Caribbean affiliates and in the Dominican Republic, transitioning back to the Canadian market in 2018. Corkum joins the Company's CEO Setti Coscarella, who was recently a lead strategist for Philip Morris, in Taat's executive ranks. Corkum was also instrumental to the introduction and commercialization of Philip Morris' RRP products such as IQOS in markets in the Caribbean and Canada. Mr. Corkum intends to apply his well-rounded knowledge of building and maintaining market share for cigarette products and RRP to create and execute strategies for bringing Beyond Tobacco™ to market as a unique replacement for tobacco cigarettes.

The Company has developed Beyond Tobacco™ cigarettes to help combat the global tobacco epidemic by providing a combustible stick product with no nicotine or tobacco that is designed to closely mimic the experience of smoking a tobacco cigarette. While many of the world's 1.3 billion1 tobacco users actively seek alternatives to tobacco cigarettes, virtually all mass-market alternatives contain nicotine. As a result, users of such alternatives often revert to tobacco cigarettes to satisfy their desire for the various sensory elements of the cigarette-smoking “ritual.” Beyond Tobacco™ cigarettes contain a proprietary blend of tobacco flavouring which imparts the taste and scent of tobacco, and have been meticulously engineered to imitate various aspects of the cigarette-smoking experience. Beyond Tobacco™ cigarettes also contain cannabidiol (“CBD”, a non-psychoactive derivative of hemp), which has been shown to mitigate tobacco withdrawals and reduce dependency upon tobacco. By delivering a molecule that is superior to nicotine, the Company anticipates Beyond Tobacco™ cigarettes could be attractive to tobacco cigarette smokers whose objective is to discontinue smoking tobacco. In the Company's initial retail market testing in California and Nevada, Beyond Tobacco™ cigarettes received excellent reception among smokers, with users indicating that Beyond Tobacco™ had no significant experiential differences from a tobacco cigarette. Taat believes this similarity, along with the absence of tobacco and nicotine, can result in strong user retention for long-term positive change.

Mr. Corkum joined Philip Morris in 1998 as a Territory Sales Representative and was immediately recognized for his strategic thinking and leadership qualities which enabled him to ascend rapidly through the sales, trade marketing, and key account departments. In 2009 as a member of the senior commercial team, Mr. Corkum oversaw sales in Atlantic Canada, which further developed his sales execution leadership. With these capabilities, Corkum's efforts contributed to Philip Morris achieving a dominant market share across the Maritime provinces. Shortly thereafter, Corkum was promoted to the central region of Canada, in which the majority of Philip Morris' premium products are sold, where he utilized his sales leadership experience to manage a team …

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