22nd Century’s Central American Growing Program to Yield Large Quantities of Proprietary Seed Stock to Support Very Low Nic...
January 21 2016 - 9:50AM
Business Wire
Initiative will produce seed sufficient to
grow tens of thousands of acres of Very Low Nicotine
tobacco
22nd Century Group, Inc. (NYSE MKT: XXII), a plant biotechnology
company that is a leader in tobacco harm reduction, announced today
that its Central American growing program is a great success. Now
nearing harvest, the specially-propagated Central American tobacco
crop is expected to produce sufficient quantities of Very Low
Nicotine tobacco seed stock to support 22nd Century’s increasing
distribution of Very Low Nicotine (“VLN”) tobacco cigarettes in
Europe, as well as the anticipated future distribution of VLN
tobacco cigarettes in the United States, and the potential sales of
VLN tobacco leaf in Asia.
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Central American field shown with
juvenile 22nd Century Very Low Nicotine tobacco plants (Photo:
Business Wire)
As reported in October 2015, the United States Department of
Agriculture (USDA) issued a phytosanitary certificate to 22nd
Century to facilitate export of the Company’s proprietary Nicotiana
tabacum (tobacco) seeds to select growers in Central America. As a
result of the Company’s successful field trials, the proprietary
Very Low Nicotine tobacco seed in production will allow 22nd
Century to greatly expand its tobacco leaf growing programs in both
the United States and in Central America. The tobacco plants in
Central America are expected to produce seed sufficient to grow
tens of thousands of acres of Very Low Nicotine tobacco.
“The positive results of our Central American tobacco seed
production program could not have come at a better time,” explained
Henry Sicignano, III, President and Chief Executive Officer of 22nd
Century Group. “Now 22nd Century will have sufficient stockpiles of
VLN seeds to support increased distribution of the Company’s MAGIC
“O” cigarettes as well as launches of our other proprietary Very
Low Nicotine products around the world.”
About 22nd Century Group, Inc.
22nd Century is a plant biotechnology company focused on
technology which allows it to increase or decrease the level of
nicotine in tobacco plants and the level of cannabinoids in
cannabis plants through genetic engineering and plant breeding. The
Company’s primary mission is to reduce the harm caused by smoking.
22nd Century currently owns or exclusively controls more than 200
issued patents and more than 50 pending patent applications around
the world. The Company’s strong IP position led to a licensing
agreement with British American Tobacco (“BAT”), the world’s second
largest tobacco company. Visit www.xxiicentury.com and
www.magiccigarettes.com for more information.
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, including but not limited to our future revenue
expectations. 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, 2014, filed on February 5, 2015,
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.
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Investor Relations:IRTH CommunicationsAndrew Haag,
866-976-4784xxii@irthcommunications.comorRedington, Inc.Tom
Redington, 203-222-7399
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