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Research Demonstrates that Adult U.K. Smokers and E-Cigarette Users Prefer Bidi Vapor E-Cigs Over Rivals

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Market research shows 80% of participants choose Bidi Vapor's premium vape product over their current nicotine options

GRANT, Fla., Dec. 14, 2021 /PRNewswire/ -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company," or "we"), is the exclusive global distributor of products manufactured by Bidi Vapor LLC ("Bidi Vapor"), including the BIDI® Stick disposable electronic nicotine delivery system ("ENDS"), which is intended exclusively for adults 21 and over. Bidi Vapor announced today that 80% of adult participants in a recent survey of e-cigarette users and cigarette smokers in the United Kingdom ("U.K.") preferred the BIDI® Stick over their current options.

(PRNewsfoto/Kaival Brands)
(PRNewsfoto/Kaival Brands)

Charlotte, N.C.-based market research firm, Voccii LLC, conducted a survey in the U.K. to better understand how the BIDI® Stick would perform abroad. The survey concluded that "any of the flavors should do well in the market…," with over 80% of the current vape users in the product survery preferring the BIDI® Stick over their current vaping device. This conclusion cuts across device type, as the BIDI® Stick was compared against open-systems, cartridges/pods and other disposable e-cigarettes.

"While the U.S. e-cigarette market numbers have shown that consumers prefer the BIDI® Stick, we are ecstatic to see that the U.K. market research results confirms that the 2% nicotine BIDI® Stick is similarly preferred by adult e-cigarette users and smokers in the U.K.," said Niraj "Raj" Patel, president and CEO of Bidi Vapor and Kaival Brands.

"From a market perspective, the U.K. has unique regulatory standards that help with direct comparisons between competing devices. For instance, all e-cigarettes must have no more than 2% nicotine levels and tank sizes cannot surpass 2 ml," Mr. Patel said.

"It's comforting to know you're competing on a level playing field," Mr. Patel said. "Standardizing certain product attributes means that the participants in the survey prefered whatever is unique about your product, whether it's formulation, quality or how it delivers nicotine. It is exciting to see the real potential of the the BIDI® Stick to help U.K. smokers who are unwilling or unable to quit to find alternatives to cigarettes.

The survey involved 101 adult users of vaping products and combustible cigarettes in the U.K. and tested preferences between four BIDI® Stick flavors at 2% nicotine with the products that the subjects normally used. The product testing took place from October 2, 2021 to October 18, 2021 and involved a spectrum of people of legal smoking age. Of the 101 participants, 51 participants tested "menthol" samples and 50 participants tested "non-menthol" samples. Bidi Vapor and Kavial Brands announced in October 2021 that they were augmenting their focus on specific international markets where they have full market and product approvals to distribute the entire BIDI® Stick product line (including non-tobacco flavors).

While flavored e-cigarettes face significant challenges in the U.S. market, these products remain legal in much of the world. Throughout the past twelve months, Bidi Vapor has received marketing and distribution approval in 11 global markets, including the U.K. and Russia. Given the favorabe dynamics of the U.K. market, Bidi Vapor and Kaival Brands are now focusing substantial time and strategic efforts on targeting the U.K. market, officials said. Kaival Brands believes that it has the budget to commit to marketing, staffing and executing a successful marketing strategy in the U.K. Simultaneous to building out the U.K. infrastructure, Kaival Brands is actively discussing formalizing international distribution agreements with some of its current U.S. customers who also have global distribution capabilities.

Mr. Patel, Kaival Brand's President and Chief Executive Officer, owns and controls Bidi Vapor. As a result, Bidi Vapor and Kaival Brand are considered under common control and Bidi Vapor is considered a related party.

ABOUT BIDI VAPOR
Based in Melbourne, Florida, Bidi Vapor maintains a commitment to responsible marketing, supporting age-verification standards and sustainability through its BIDI® Cares recycling program. Bidi Vapor's premiere device, the BIDI® Stick, is a premium product made with medical-grade components, a UL-certified battery, and technology designed to deliver a consistent vaping experience for adult smokers 21 and over. Bidi Vapor is also adamant about strict compliance with all federal, state and local guidelines and regulations. At Bidi Vapor, innovation is key to our mission, with the BIDI® Stick promoting environmental sustainability, while providing a unique vaping experience to adult smokers.

For more information, visit www.bidivapor.com

ABOUT KAIVAL BRANDS
Based in Grant, Florida, Kaival Brands is a company focused on growing and incubating innovative and profitable products into mature and dominant brands in their respective markets. Our vision is to develop internally, acquire, own, or exclusively distribute these innovative products and grow each into dominant market-share brands with superior quality and recognizable innovation. Kaival Brands is the exclusive global distributor of all products manufactured by Bidi Vapor.

Learn more about Kaival Brands Innovations Group, Inc., at www.ir.kaivalbrands.com.

Forward-Looking Statements

This press release includes statements that constitute "forward-looking statements" within the meaning of federal securities laws, which are statements other than historical facts that frequently use words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "position," "should," "strategy," "target," "will," and similar words. All forward-looking statements speak only as of the date of this press release. Although we believe that the plans, intentions, and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions, or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such statements. Our business may be influenced by many factors that are difficult to predict, involve uncertainties that may materially affect results, and are often beyond our control. Factors that could cause or contribute to such differences include, but are not limited to, the timing and results of Bidi Vapor's appeal of the FDA's PMTA determinations; the scope of future FDA enforcement of regulations in the ENDS industry; the FDA's approach to the regulation of synthetic nicotine and its impact on our business; the successful implementation of the expansion of the Company's distribution of the Bidi® Stock in international markets, the duration and scope of the COVID-19 pandemic and impact on the demand for the products we distribute; the actions governments, businesses, and individuals take in response to the pandemic, including mandatory business closures and restrictions on onsite commercial interactions; the impact of the pandemic and actions taken in response to the pandemic on global and regional economies and economic activity; the pace of recovery when the COVID-19 pandemic subsides; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps that we could take to reduce operating costs; our inability to generate and sustain profitable sales growth; circumstances or developments that may make us unable to implement or realize anticipated benefits, or that may increase the costs, of our current and planned business initiatives; changes in government regulation or laws that affect our business; significant changes in our relationships with our distributors or sub-distributors; and those factors detailed by us in our public filings with the Securities and Exchange Commission. All forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. Except as required under the federal securities laws and the Securities and Exchange Commission's rules and regulations, we do not have any intention or obligation to update any forward-looking statements publicly, whether as a result of new information, future events, or otherwise.

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SOURCE Kaival Brands