WILLIAMSVILLE, NY, March 4, 2021 (GLOBE NEWSWIRE) – twenty second Century Group, Inc. (NYSE American: XXII), a number one plant biotechnology firm centered on tobacco hurt discount, ultra-low nicotine tobacco and hemp / hashish analysis, immediately introduced that it has acquired internet proceeds of $ 8.1 million from the money train of excellent warrants in February and March 2021. The remaining warrants , if exercised for money, will generate extra internet money proceeds of $ 3.7 million to the corporate. . On account of the above transaction, the Firm will not have any excellent warrants.
“We’re happy to additional strengthen our steadiness sheet with $ 8.1 million from the train of those current warrants which had been already factored into our totally diluted capital construction,” stated James A. Mish, Chief Government Officer from the administration of twenty second Century Group. “The Capital will present us with a further result in additional gasoline our present operations, technique and development initiatives, together with short-term alternatives in our tobacco and hemp / hashish franchises. We stay up for acquiring the authorization of Modified Threat Tobacco Merchandise (MRTP), launching VLN®and the development of the VLN® Mark. The extra cash can even assist our R&D initiatives on hemp / hashish and the event of our third franchise in 2021. ”
About twenty second Century Group, Inc.
twenty second Century Group, Inc. (NYSE American: XXII) is a number one plant biotechnology firm centered on applied sciences that alter the extent of nicotine in tobacco crops and the extent of cannabinoids in hemp / hashish crops by genetic engineering, gene modifying and plant breeding. twenty second Century’s major tobacco mission is to cut back the injury attributable to smoking with diminished nicotine tobacco cigarettes, which include 95% much less nicotine than typical cigarettes. The corporate’s major mission in hemp / hashish is to develop and market proprietary hemp / hashish crops with invaluable cannabinoid profiles and fascinating agronomic traits.
Be taught extra about xxiicentury.com, on Twitter @_xxiicentury, and on LinkedIn.
Warning Concerning Ahead-Trying Statements
Apart from historic info, all statements, expectations and assumptions contained on this press launch are forward-looking statements. Ahead-looking statements typically include phrases similar to “anticipate”, “imagine”, “contemplate”, “proceed”, “may”, “estimate”, “count on”, “discover”, “anticipate”, “goal” , “Orientation,” intend “,” possible “,” could “,” plan “,” potential “,” foresee “,” preliminary “,” possible “,” venture “,” promising “,” search ” , “Ought to,” “Will”, “would” and comparable expressions. Precise outcomes could differ materially from these expressed or implied in forward-looking statements. Vital components which will trigger precise outcomes to range materially are set out within the “Threat Elements” part of the Firm’s annual report on Kind 10-Ok filed on March 11, 2020 and in its quarterly report subsequently filed on Kind 10-Q. All info supplied on this press launch is as of the date hereof, and the Firm assumes no obligation and doesn’t intend to replace these forward-looking statements, besides as required by legislation.
Investor relations and media contact:
Director, Communications and Investor Relations
twenty second Century Group, Inc.