22nd Century Group Files 2016 Second Quarter Report Announces Conference Call to Provide Business Update
CLARENCE, N.Y.--(BUSINESS WIRE)--22nd Century Group, Inc. (NYSE MKT:XXII), a plant biotechnology company that is a leader in tobacco harm reduction, today released the Company’s second quarter 2016 financial results.
Recent Business Highlights
In April, 22nd Century received an initial purchase order from Australian tobacco distributor, Quay Tobacco Trading PTY, LTD., for both Very Low Nicotine MAGIC brand cigarettes and “Extreme Nicotine” RED SUN cigarettes. This purchase order represents
22nd Century’s first notable sale of product to the Asia-Pacific region. Cigarettes for the Australian market will be made at 22nd Century’s wholly-owned manufacturing facility in Mocksville, North Carolina and are anticipated to ship in September 2016.
22nd Century signed an agreement with Celanese Corporation that grants our Company the right to use Celanese’s CelFX® cigarette filter technology with our MAGIC, RED SUN and MOONLIGHT brands. The agreement also includes exclusive rights for 22nd Century to market cigarette tubes containing Celanese CelFX® filters for Roll-Your-Own tobacco consumers around the world. We believe the addition of the CelFX® filter to the Company’s proprietary cigarette brands (MAGIC, RED SUN, MOONLIGHT) results in an extraordinary taste experience while significantly reducing many toxic compounds in the smoke.
22nd Century received an initial purchase order for MAGIC 0 Very Low Nicotine cigarettes from French distributor, Royal Distribution. MAGIC cigarettes destined for France are exclusively made with the Company’s proprietary Very Low Nicotine tobacco and are manufactured on behalf of 22nd Century by Orion Tobacco Corporation in Poland. Cigarettes for the French market are anticipated to ship in September 2016.
2Q16 Update
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