22nd Century Group, Inc. (NYSE MKT:XXII)
announced today that Joseph Pandolfino, Founder and CEO of 22nd Century
Group, together with other members of senior management, will ring The
Closing Bell® at the New York Stock Exchange (NYSE) on
Thursday October 16, 2014 at 4:00 p.m. EDT. The event will celebrate
22nd Century Group’s initial listing on the NYSE MKT and the recent
achievements of other important Company milestones.
22nd Century Group recently announced
that it became a signatory of the historic U.S. Master Settlement
Agreement (MSA), entered the cannabis space, and completed a $10 million
private placement. Additionally, the Company has made great strides in
its Asian distribution initiatives.
Now that 22nd Century’s super-premium priced brand, RED SUN®,
is an MSA brand, the Company is ramping up production at its factory in
North Carolina to commence national sales and distribution across the
United States. 22nd Century Group’s recent entry into the cannabis space
is highlighted by a global in-license that gives the Company exclusive
freedom to operate in the entire cannabinoid biosynthetic pathway in the
cannabis plant in a manner that is similar to what 22nd Century has
achieved in the nicotine biosynthetic pathway in the tobacco plant.
22nd Century also recently sold approximately 3.87 million shares of
restricted stock for the purchase price of $10,000,000. Proceeds from
this “at market price” financing will be used to conduct exposure
studies, product launches, potential acquisitions and joint ventures,
and for general working capital purposes. Also, as reported
on September 30th in a Form 8-K filed with the U.S. Securities and
Exchange Commission (SEC), 22nd Century Group has commenced important
Asian strategic initiatives. The Company believes these Asian
initiatives will lead to attractive opportunities in the coming weeks.
22nd Century ringing the Closing Bell, as well as replays, can be viewed
live at: www.nyse.com/bell.
Joseph Pandolfino stated, "We are honored to ring the NYSE's Closing
Bell to celebrate our initial listing on the NYSE MKT and recent Company
milestones. This ceremony is a tribute to our employees, directors,
customers, researchers and shareholders who continue to support and
drive our success."
About 22nd Century Group, Inc.
22nd Century is a plant biotechnology company whose proprietary
technology through genetic engineering and plant breeding allows (i) the
level of nicotine (and other nicotinic alkaloids) in the tobacco plant
to be decreased or increased and (ii) the levels of cannabinoids to be
decreased or increased, in addition to the cannabinoid profile being
tailored. 22nd Century owns or is the exclusive licensee of 129 issued
patents in 78 countries plus an additional 51 pending patent
applications, and 22nd Century has co-exclusive rights to another 16
patent applications. Goodrich Tobacco is focused on commercial tobacco
products and potential less harmful cigarettes. Botanical Genetics is
focused on novel, cannabis plant varieties and cannabis-based products
for human health, well-being and nutrition, in addition to industrial
products refined from cannabis. Hercules Pharmaceuticals is focused on
X-22, a prescription smoking cessation aid in development.
For additional information, please visit: www.xxiicentury.com
Cautionary Note Regarding Forward-Looking Statements: This press
release contains forward-looking information, including all statements
that are not statements of historical fact regarding the intent, belief
or current expectations of 22nd Century Group, Inc., its directors or
its officers with respect to the contents of this press release. The
words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,”
“believe,” “intend” and similar expressions and variations thereof are
intended to identify forward-looking statements. We cannot guarantee
future results, levels of activity or performance. You should not place
undue reliance on these forward-looking statements, which speak only as
of the date that they were made. These cautionary statements should be
considered with any written or oral forward-looking statements that we
may issue in the future. Except as required by applicable law, including
the securities laws of the United States, we do not intend to update any
of the forward-looking statements to conform these statements to reflect
actual results, later events or circumstances, or to reflect the
occurrence of unanticipated events. You should carefully review and
consider the various disclosures made by us in our annual report on Form
10-K for the fiscal year ended December 31, 2013, filed on January 30,
2014, including the section entitled “Risk Factors,” and our other
reports filed with the U.S. Securities and Exchange Commission which
attempt to advise interested parties of the risks and factors that may
affect our business, financial condition, results of operation and cash
flows. If one or more of these risks or uncertainties materialize, or if
the underlying assumptions prove incorrect, our actual results may vary
materially from those expected or projected.
Copyright Business Wire 2014