22nd Century Group Announces First Shipment of Smoker Friendly Private Label Cigarettes
January 22 2015 - 7:00AM
Business Wire
22nd Century Group, Inc. (NYSE MKT:XXII) today announced that
its wholly-owned subsidiary, NASCO Products, LLC, a federally
licensed tobacco product manufacturer and participating member of
the tobacco Master Settlement Agreement (MSA), made its first
shipment of Smoker Friendly private label cigarettes.
Currently, Smoker Friendly has more than 800 stores throughout
the United States under license. These stores are independently
owned and operated. The “SF” brand has been on the market for over
20 years and is the private label brand in Smoker Friendly
stores.
Pursuant to a multi-year manufacturing agreement the Company
signed with Smoker Friendly International, LLC last August, and
following the approval of that agreement by the 46 Settling States,
the District of Columbia, and 5 U.S. territories under the MSA,
effective as of January 2015, NASCO is Smoker Friendly
International’s exclusive manufacturer of “SF” brand
cigarettes.
A transition will now occur under which the Company’s factory
will increase its production and shipment of Smoker Friendly
products as the prior manufacturer of Smoker Friendly products
winds down its inventory. Both manufacturers will ship “SF” brand
cigarettes until March 31, 2015, at which time the prior
manufacturer will cease shipments of Smoker Friendly products. In
anticipation of assuming sole rights to manufacture and ship the
“SF” private label cigarettes, NASCO has already produced an
inventory of all 11 brand styles.
Terry Gallagher, Jr., the President of Smoker Friendly
International LLC, stated, “SF brand cigarettes are very important,
high volume products for Smoker Friendly. We awarded NASCO the
contract to produce our private label brand because the people of
22nd Century demonstrated their ability to manufacture truly
outstanding products – with a commitment to servicing each and
every one of our distributor and retail partners.”
Henry Sicignano, III, the President and Chief Operating Officer
of 22nd Century, commented, “We are very pleased to be embarking on
such an important strategic partnership with Smoker Friendly; not
only will this contract result in substantial “SF” brand contract
manufacturing revenue for 22nd Century, but it also provides our
Company with the opportunity to promote our super-premium RED SUN
cigarettes in Smoker Friendly stores across the country.”
For additional information about 22nd Century Group, please
visit: www.xxiicentury.com
About 22nd Century Group, Inc.
22nd Century is a plant biotechnology company whose proprietary
technology allows for the levels of nicotine and other nicotinic
alkaloids (e.g., nornicotine, anatabine and anabasine) in the
tobacco plant to be decreased or increased through genetic
engineering and plant breeding. The Company’s technology also
allows the levels of cannabinoids to be decreased or increased in
the cannabis plant. 22nd Century owns or is the exclusive licensee
of 128 issued patents plus an additional 53 pending patent
applications; 22nd Century also holds co-exclusive rights to
another 2 patents and 16 patent applications. Goodrich Tobacco
Company, LLC, Hercules Pharmaceuticals, LLC and Botanical Genetics,
LLC are wholly-owned subsidiaries of 22nd Century. Goodrich Tobacco
is focused on commercial tobacco products and potentially less
harmful cigarettes. Hercules Pharmaceuticals is focused on X-22, a
prescription smoking cessation aid in development. Botanical
Genetics is focused on novel cannabis plant varieties and on
cannabis-based products.
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. 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, 2013, filed on January 30, 2014,
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.
Redington, Inc.Tom Redington, 203-222-7399
22nd Century (AMEX:XXII)
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