VANCOUVER, BC, July 21, 2021 /PRNewswire/ -- PODA LIFESTYLE AND WELLNESS LTD. ("Poda" or the "Company") (CSE: PODA) (FSE: 99L) (OTCPINK: PODAF) is pleased to provide an update from CEO Ryan Selby on the state of the global heated tobacco market.
Ryan Selby, CEO, commented, "With an ever-increasing focus on reduced-risk products, the global tobacco industry continues to embrace heated tobacco products. International tobacco giant Philip Morris International ("PMI"), maker of the IQOS (IQuit Ordinary Smoking) product line, recently announced that as of Q2 2021, it has acquired over 20 million IQOS users globally. In just Q2 2021 alone, PMI sold over 24 billion units of its IQOS-compatible HEETS tobacco sticks and they are on track to sell over 100 billion HEETS sticks in 2021. IQOS continues to increase its market share in virtually every market in which it has been launched, and PMI remains extremely bullish on the future of heated tobacco. PMI has committed to generating at least 50% of its net revenues from the sale of reduced risk products (primarily the IQOS product) within the next 5 years, and PMI has a stated goal of eliminating its sales of traditional combustible cigarettes by the year 2030."
Selby continued, "The growth of the heated tobacco market is truly astounding, and I am thrilled to be commercializing a product that in my opinion is more attractive to consumers than the IQOS product. The Poda product simply eliminates all device cleaning and maintenance, which is a primary paint point among IQOS users. Additionally, our proprietary designs and low-cost production capabilities will allow us to sell our products at potentially lower price points than the IQOS products, giving us yet another competitive advantage. As more and more consumers make the switch from traditional combustible cigarettes to reduced risk options, I believe heated tobacco products have the potential to make a big impact in the lives of the 1.3 billion smokers globally. As heated tobacco products continue to take market share from combustible cigarettes, the unique value propositions offered by the Poda products provide the Company with an excellent opportunity to capture an increasing share of the global heated tobacco market."
Additionally, the Company is pleased to share video interviews with Michael Nederhoff (former President of JUUL Canada) and Nicholas Kadysh (former Head of Corporate Affairs for JUUL Canada), both of whom are newly appointed members of Poda's Global Advisory Board. Click on the link below to watch Michael and Nicholas discuss why they are so excited to have joined the Poda team.
On Behalf of the Board,Ryan SelbyCEO, Director, and Chairman of the Board
ABOUT PODA LIFESTYLE
Poda Lifestyle is actively engaged in the global commercialization of HNB smoking products, which have the potential to reduce the risks associated with combustible smoking products. The Company has developed a patented HNB system that uses proprietary biodegradable single-use pods, which are both consumer and environmentally friendly. The innovative design of the Company's HNB platform prevents cross-contamination between the heating devices and the pods, eliminating all cleaning requirements and providing users with the most convenient and enjoyable potentially-reduced-risk smoking experience. Poda Lifestyle's HNB system is fully patented in Canada and is patent pending in 65 additional countries, covering over 70% of the global population. The Company's Poda Pods are the first and only cigarettes to have a completely closed end. This exclusive design entirely eliminates all cleaning requirements and provides a truly ashless HNB cigarette. Poda Lifestyle's fully patented system is truly one of a kind and solves the major pain-point that ALL other HNB products suffer from: daily cleaning requirements. The Company's flagship Beyond Burn™ Poda Pods contain a unique tobacco-free blend of pelletized tea leaves infused with synthetic nicotine, which provides adult smokers with a smoke-free alternative to their regular habit without sacrificing satisfaction. Beyond Burn™ Poda Pods have been expertly crafted to mimic the sensorial experience of traditional cigarettes without the smoke, without the smell, and without the tobacco.
This news release contains "forward-looking information" within the meaning of applicable securities laws. Although Poda Lifestyle believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because Poda Lifestyle can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. Poda Lifestyle undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Poda Lifestyle, its securities, or financial or operating results (as applicable). Poda Lifestyle disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.