Business
Planned Launch of Vape Products
Planned Launch of Vape Products.
About this update from Chill Brands Group Plc
[{"type":"text","content":"\n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.\n \n \n \n \n 7 December 2022\n \n \n \n \n Chill Brands Group plc\n \n \n \n \n (\"Chill Brands\"\n \n or the \"Company\")\n \n \n \n \n \n \n \n \n Planned Launch of Vape Products\n \n \n \n Chill Brands Group, the international consumer packaged goods company, is pleased to announce that production has commenced on a new line of disposable vapour products scheduled to launch during Q1 2023.\n \n \n These nicotine-free botanical e-cigarette devices will initially be available in three fruit flavours with sales to be made both in retail stores and online via Chill.com. The Company's supplier has agreed to a reduced production price and extended production run to enable Chill Brands to expedite the launch of this new product category without incurring significant upfront costs.\n \n \n Data from research bodies suggests that the market for vapour products could exceed US $55 billion by 2029. It is estimated that more than 26 million Americans use vapour products and, in addition to sustained attrition of users from traditional tobacco products to e-cigarettes, many consumers are now inclined to seek out nicotine-free alternatives that replicate the flavours, sensations, and habits they have come to enjoy without the inclusion of addictive ingredients.\n \n \n Public Health England previously reported that the use of vapour products is around 95% less harmful to health than smoking traditional tobacco products. This sentiment was echoed by the American Association of Public Health Physicians, while the United Kingdom Committee on Toxicity of Chemicals in Food, Consumer Products and the Environment recently stated that the risks associated with Electronic Non-Nicotine Delivery Systems (ENNDS) were \"substantially lower\" than with conventional tobacco products. While Chill Brands does not make any health claims regarding the application of its products as smoking cessation aides, the Company is encouraged by the positive stance adopted by public bodies in relation to this rapidly growing product category and believes that these statements will support the popular appeal and marketing potential of its new range.\n \n \n Chill vapour products will be manufactured to specifi...