Cannabis
Stock News: 22nd Century (NYSE MKT: $XXII) Produces Zero THC Industrial Hemp at
Anandia Labs
22nd Century announces further
medical marijuana and industrial hemp investments
CLARENCE, N.Y. - March 24, 2017
(Investorideas.com Newswire) 22nd Century Group, Inc. (NYSE MKT:XXII), a plant
biotechnology company that is focused on tobacco harm reduction and cannabis
research, announced today that the Company's research collaboration with
strategic partner Anandia Laboratories, Inc. in Vancouver, Canada, has resulted
in new industrial hemp plants that have zero tetrahydrocannabinol (THC), the
principal psychoactive constituent in cannabis.
Cannabis sativa (marijuana, hemp) has
been used for millennia as a source of fiber, food (oil and protein), medicine
and as a recreational psychoactive drug. Drug type cannabis (marijuana) that is
typically used for medical and recreational purposes contains high levels of
THC and is defined as a Schedule 1 narcotic by the Drug Enforcement Agency
(DEA). Accordingly, the presence of THC in industrial hemp is one of the
biggest challenges facing the industrial hemp industry. Hemp crops are tested
for THC levels; under U.S. federal law, crops containing above 0.3% THC are
required to be destroyed. Currently, farmers cannot obtain crop insurance to
protect against this risk. 22nd Century has developed a solution to this
problem by creating industrial hemp plants that contain zero THC.
In order to build on the Company's
success with its THC-free hemp, the Company's wholly-owned subsidiary,
Botanical Genetics LLC (www.botanicalgenetics.com),
has approved an additional investment of approximately $800,000 in further
cannabis research with Anandia Labs. The Company's new investment in Anandia
Labs will be product-oriented and will focus on developing a range of next
generation industrial hemp plants that contain optimized levels of important
cannabinoids such as CBD, CBC, and CBG.
22nd Century will provide these
proprietary hemp plants to the Company's university research partners for
optimization in various climates around the world. THC-free cannabis is an
ideal agricultural crop and an excellent source of medically important
cannabinoids; 22nd Century has the exclusive rights to commercialize the plants
arising from this collaborative project in the United States.
This successful cannabinoid research
at Anandia Labs is the result of one of many of the Company's research
activities relating to industrial hemp plants and to the extraction of
medically-important cannabinoids for medical research. In conducting research
in this field, Botanical Genetics operates its own laboratories in New York and
collaborates with third-party research universities, commercial laboratories,
and hemp/cannabis growers that possess all necessary licenses and permits to
conduct their activities.
"We are delighted that our
exciting research with Anandia Labs has created zero THC plants and altered
levels of cannabinoids suitable for both industrial hemp and medical
marijuana," explained Dr. Paul Rushton, 22nd Century's Vice President for
Plant Biotechnology. "We anticipate that our zero THC hemp plants will
form the basis of a new generation of industrial hemp and medical marijuana
varieties. These markets are projected to be multi-billion dollar markets in
the near term."
Jonathan Page, Ph.D., President and
CEO of Anandia Labs, stated, "We are pleased that our initial project with
22nd Century has been such a success. These exciting results will help create
hemp varieties that reduce the significant regulatory challenges around THC in
the U.S. and position 22nd Century to be at the forefront of the renaissance in
hemp production."
About Botanical
Genetics
Botanical Genetics is at the
forefront of cannabis biotechnology. In partnership with Anandia Labs, a
leading Canadian cannabis research company, and in collaboration with several
major universities and hemp/cannabis companies, Botanical Genetics is able to
legally conduct a full spectrum of cutting edge cannabis research. This
includes development of proprietary cannabis strains for novel, safe and
effective medical applications and production of very low THC industrial hemp
varieties that may be legally grown in the U.S. and around the world as an
agricultural crop and/or as a source for the extraction of cannabinoids for
medical research purposes by third-parties with the proper permits and
licenses. Visit www.botanicalgenetics.com for information about the Company's activities in the rapidly evolving
areas of legal industrial hemp and legal medical marijuana.
About 22nd Century
Group, Inc.
22nd Century is a plant biotechnology
company focused on technology which allows it to increase or decrease the level
of nicotine in tobacco plants and the level of cannabinoids in cannabis plants
through genetic engineering and plant breeding. The Company's primary mission
is to reduce the harm caused by smoking. 22nd Century currently owns or
exclusively controls more than 200 issued patents and more than 50 pending
patent applications around the world. Visit www.xxiicentury.com for more information.
About Anandia
Laboratories Inc.
Anandia Labs is a Health Canada
licensed company focused exclusively on cannabis breeding and testing, with the
aim of bringing the best of modern science to the cannabis industry for the
benefit of growers and consumers. Anandia Labs provides a full suite of
third-party independent cannabis testing services to clients within Canada's
legal medical cannabis industry. Visit www.anandialabs.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, 2016, filed on March 8, 2017, 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.
Contacts
22nd Century Group
Investor Relations:
IRTH Communications
Andrew Haag, 866-976-4784
xxii@irthcommunications.com
Anandia Laboratories Inc.
Jonathan Page, 604-822-0253
President and CEO
jpage@anandialabs.com
Marijuana / Hemp Stocks
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