22nd Century Will Play Leading Role in Industrial Hemp Industry
April 20 2017 - 9:45AM
Business Wire
22nd Century’s THC-free marijuana sought by
growers, research universities and state agricultural programs
across the country
22nd Century Group, Inc. (NYSE MKT:XXII), a plant
biotechnology company that is focused on tobacco harm reduction and
cannabis research, announced today that the Company is building on
its newly developed THC-free marijuana. 22nd Century scientists and
sponsored researchers are now developing important “enabling tools”
that allow for the targeted manipulation of cannabinoid production
in the cannabis plant. With this technology, the Company is working
to create industrial hemp plants with altered levels of
cannabinoids for new medicines and improved agricultural uses.
These projects have already added significantly to the Company’s
cannabis-based intellectual property portfolio.
As leaders in the resurgent industrial hemp industry, Dr. Paul
Rushton, the Company’s Vice President of Plant Biotechnology and
Thomas James, the Company’s General Counsel, were invited by New
York Governor Andrew Cuomo, to the first-ever “Summit on Growing
the Hemp Industry in New York State” that was held this week at
Cornell University. 22nd Century’s recent advances, including the
creation of zero-THC hemp plants, earned the Company a prominent
spot at the meeting where Governor Cuomo’s executive team announced
the goal of tripling hemp production in New York. The
invitation-only event assembled key players who are leading the
state’s fast-emerging industrial hemp industry.
Through generous research investment and business-friendly
regulations, New York Lieutenant Governor, Kathy Hochul, announced
the administration’s commitment to making New York State the
national leader in the production of industrial hemp. New York has
already removed the cap on hemp growing licenses; 22nd Century
expects to receive permits to grow hemp in both the Company’s
Buffalo-based laboratories and in New York state farms with
contract growers. In addition, New York is securing a Drug
Enforcement Agency (DEA) permit to facilitate the import of hemp
seeds by the state – a move that will speed the research and
development efforts in New York for 22nd Century’s proprietary hemp
varieties, high CBD hemp plants, and plants with other unique
agronomic traits.
22nd Century’s increasingly prominent role in the hemp industry
is underlined by extensive recent news coverage of the Company’s
zero-THC hemp on WIVBTV “Local Team Develops Strain of THC-Free
Marijuana,” in The Buffalo News “Why a Clarence Company is Taking
the High Out of Marijuana,” and in a host of other publications.
22nd Century Group is engaged in talks with research universities
and hemp growers in the State of New York and across the country
with the aim of bringing the Company’s highly differentiated hemp
plants with unique cannabinoid profiles into the fast-growing
industrial hemp industry.
“22nd Century is spearheading the development of important new
varieties of industrial hemp and medical marijuana,” stated Dr.
Paul Rushton, the Company’s Vice President of Plant Biotechnology.
“Our expertise is in high demand by research universities, state
agricultural programs, growers, and hemp processors; 22nd Century’s
zero-THC hemp will form the foundation for hemp revitalization in
New York and across the entire country.”
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 in tobacco is to reduce the harm caused
by smoking. The Company’s primary mission in cannabis is to develop
proprietary cannabis strains for important new medicines and
agricultural crops. Visit www.xxiicentury.com and
www.botanicalgenetics.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, 2016, filed on March 8, 2017,
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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version on businesswire.com: http://www.businesswire.com/news/home/20170420005783/en/
22nd Century GroupInvestor Relations:IRTH CommunicationsAndrew
Haag, 866-976-4784xxii@irthcommunications.com
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