22nd Century Group to be Added to Russell 3000, Russell 2000, Russell Global and Russell Microcap Indexes
June 16 2014 - 5:45AM
Business Wire
22nd Century Group, Inc. (NYSE MKT: XXII) today announced that
the Company will join the Russell 3000, Russell 2000, Russell
Global and Russell Microcap Indexes when Russell Investments
(Russell) reconstitutes its U.S. and global equity indexes on June
27, 2014. Russell’s announcement of its annual reconstitution of
these Russell indexes, which included 22nd Century Group, was
listed on the Russell website on Friday, June 13, 2014, after the
U.S. stock market closed.
“We are pleased to be added to various Russell Indexes. Our
inclusion will generate further interest in the Company’s stock
among those investors in the investment community who may be less
familiar with 22nd Century Group,” stated Joseph Pandolfino, the
Company’s Founder and CEO. He added, “One goal of 22nd Century
Group’s management is to be included in the Russell 1000 Index
within 3 years.”
Russell determines membership for its equity indexes primarily
by objective, market-capitalization rankings and style attributes.
Russell Indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for both
active and passive investment strategies. As of March 31, 2014,
Russell has more than $259 billion in assets under management and
works with over 2,500 institutional clients, independent
distribution partners and individual investors globally.
Approximately $5.2 trillion in assets are benchmarked to the
Russell Indexes.
About the Russell Indexes to which 22nd Century Group has been
added:
Russell 3000 Index
Measures the performance of the largest 3,000 U.S. companies
representing approximately 98% of the investable U.S. equity
market. The Russell 3000 Index is constructed to provide a
comprehensive, unbiased and stable barometer of the broad market
and is completely reconstituted annually to ensure new and growing
equities are reflected. The Russell 1000, which measures the
performance of the large-cap segment of the U.S. equity universe,
and Russell 2000 are subsets of the Russell 3000.
Russell 2000 Index
Measures the performance of the small-cap segment of the U.S.
equity market. The Russell 2000 Index is a subset of the Russell
3000 Index and represents approximately 10% of the total market
capitalization of the Russell 3000. It includes approximately 2000
small-cap companies based on a combination of their market cap and
current index membership. The Russell 2000 is constructed to
provide a comprehensive and unbiased small-cap barometer and is
completely reconstituted annually to ensure larger stocks do not
distort the performance and characteristics of the true small-cap
opportunity set.
Russell Global Index
Measures the performance of the global equity market based on
all investable equity securities. All securities in the Russell
Global Index are classified according to size, region, country, and
sector, as a result the index can be segmented into thousands of
distinct benchmarks. The Russell Global index is constructed to
provide a comprehensive and unbiased barometer for the global
segment and is completely reconstituted annually to accurately
reflect the changes in the market over time. The Russell 3000
serves as the U.S. component to the Russell Global Index.
Russell Microcap Index
Measures the performance of the microcap segment of the U.S.
equity market. Microcap stocks make up less than 3% of the U.S.
equity market (by market cap) and consist of the smallest 1,000
securities in the small-cap Russell 2000 Index, plus the next 1,000
smallest eligible securities by market cap. The Russell Microcap
Index is constructed to provide a comprehensive and unbiased
barometer for the microcap segment trading on national exchanges.
The Index is completely reconstituted annually to ensure that new
and growing equities are reflected.
About 22nd Century Group, Inc.
22nd Century is a plant biotechnology company whose proprietary
technology allows for the levels of nicotine and other nicotinic
alkaloids (e.g., nornicotine, anatabine and anabasine) in the
tobacco plant to be decreased or increased through genetic
engineering and plant breeding. 22nd Century owns or is the
exclusive licensee of 116 issued patents in 78 countries plus an
additional 42 pending patent applications. Goodrich Tobacco
Company, LLC and Hercules Pharmaceuticals, LLC are wholly-owned
subsidiaries of 22nd Century. Goodrich Tobacco is focused on
commercial tobacco products and potentially less harmful
cigarettes. 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.
Redington, Inc.Tom Redington, 203-222-7399
22nd Century (AMEX:XXII)
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