22nd Century Group to Ring the New York Stock Exchange Closing Bell
October 15 2014 - 7:09AM
Business Wire
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.
For 22nd Century Group, Inc.:Matthew Bird,
917-409-8211matt.bird@1800pr.comorRedington, Inc.Tom Redington,
203-222-7399
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