NICOCCINO APPROVED AS A CONSUMER PRODUCT IN THE CZECH REPUBLIC
Authorities in the Czech Republic have approved NicoccinoTM to be marketed and sold as a consumer product. The approval clarifies the categorization of Nicoccino within the European Union and paves the way for further sales in other EU countries. The approval decreases the company risk in relation to regulation of the product.
The approval from the Czech authorities means that NicoccinoTM is not classified as food, tobacco or a pharmaceutical product. As a consequence, NicoccinoTM can be marketed and sold as a consumer product. Sales through distributors will be initiated at the beginning of September.
”The regulatory assessment of the product is vital in order to initiate sales in a new market. The decision by the Czech authorities to approve our product is very pleasing as it means we can take a first step in a new market. More importantly, the decision opens the door for selling NicoccinoTM in the EU, where we can access a tobacco market worth an estimated 136 billion EUR. The approval paves the way for continued offensive expansions”, says Michel Bracké, CEO of Nicoccino Holding.
Nicoccino has previously signed a distribution agreement with Fall Consulting for the sale and distribution of NicoccinoTM in the Czech market where smokers are estimated to make up 30% of the adult population.
Nicoccino AB develops and markets a patented, innovative and discrete nicotine product that instantly provides the user with nicotine without the detrimental side effects of traditional tobacco products. The product has the same name as the company – NicoccinoTM – and is manufactured through partners. Nicoccino is currently sold in the UK, Germany, Czech Republic, Poland and through our online platform (purenicoccino.com)
Nicoccino`s head quarter is located in Täby outside of Stockholm and a sales office in London. The company’s shares has been listed on Nasdaq Stockholm First North since June 2014 and can be found under the abbreviation NICO.
Remium Nordic AB is Nicocino Holding’s Certified Adviser
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