22nd Century’s Low-THC Cannabis sativa L. Research Activities Receive Legislative Boost
December 20 2018 - 4:49PM
Business Wire
President Trump Signs Bill Legalizing
Low-THC Cannabis
22nd Century Group, Inc. (NYSE American:XXII), a plant
biotechnology company focused on tobacco harm reduction and
hemp/cannabis research, announced today that the 2018 Farm Bill
will greatly enhance the Company’s research activities around
low-THC Cannabis sativa L. Earlier today, President Trump signed
into law the 2018 Farm Bill, including an important provision to
legalize hemp, defined as Cannabis sativa L. containing not more
than 0.3% THC (the compound in cannabis responsible for
psychotropic effects). Cannabis plants with higher levels of THC
(i.e. marijuana) remain illegal under federal law.
As a Research Partner of the State of New York Department of
Agriculture and Markets, and with extensive experience in plant
biotechnology and genetics, 22nd Century scientists are uniquely
capable of exploiting cannabis DNA. The new law will allow 22nd
Century to expand the Company’s research activities, to add to the
Company’s cannabis intellectual property portfolio, and to increase
the Company’s cannabis germplasm library through the legal
interstate commerce of proprietary low-THC Cannabis sativa L.
plants.
100-years ago, cannabis was a widely-grown agricultural crop. It
was used in hundreds of products from animal feed, to products made
from the plant’s strong fibers (a classic example is rope), to food
items made from oils that are high in polyunsaturated fatty acids
like omega-3 and omega-6. “However, the truly exciting developments
for modern cannabis-based products are in the medical field,”
explained Dr. Paul Rushton, Vice President of Biotechnology at 22nd
Century Group. “Cannabis is a treasure trove of bio-active
molecules that scientists have only just begun to tap.”
“In ending the legal uncertainty that low-THC cannabis research
has entailed, and by opening the door for legal sales of hemp
across state lines, the 2018 Farm Bill will result in a vibrant and
growing marketplace for 22nd Century’s unique varieties,” Dr.
Rushton, explained. “With a sizeable head-start in low-THC Cannabis
sativa research in collaboration with the Company’s fully licensed
and accredited partners, 22nd Century is poised to take advantage
of hemp’s new legal status and to develop and commercialize new
hemp/cannabis varieties for the medical and agricultural
fields.”
About 22nd Century Group, Inc.
22nd Century is a plant biotechnology company focused on
technology which allows the increase or decrease in the level of
nicotine in tobacco plants and the level of cannabinoids in
hemp/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
hemp/cannabis is to develop proprietary hemp/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, 2017, filed on March 7, 2018,
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: https://www.businesswire.com/news/home/20181220005931/en/
22nd Century GroupJames Vail, Director of
Communications716-270-1523jvail@xxiicentury.com
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