22nd Century Group to Ring the New York Stock Exchange Closing Bell

Source from:  Business Wire  10/16/2014

22nd Century Group, Inc. announced Wednesday 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.

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." Enditem