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7	7	22nd Century Group is a plant biotechnology company focused on (i) potentially reduced risk tobacco cigarettes and smoking cessation products produced from modifying the nicotine content in tobacco plants through genetic engineering and plant breeding, and (ii) research and development of unique cannabis/hemp plants through genetic engineering and plant breeding to alter levels of cannabinoids for new medicines and improved agricultural uses. The company has an extensive intellectual property portfolio of issued patents and patent applications relating to the tobacco and cannabis plants. Its management team is focused on monetizing its intellectual property portfolio, obtaining regulatory approval to market both its reduced exposure cigarettes and its smoking cessation product in development, and developing and commercializing high value products derived from its unique cannabis/hemp plants. Additional information about its business and operations is contained in tis Annual Report on Form 10-K for the year ended December 31, 2016.
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11	11	The company strategic objectives include the following:
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39	39	On July 28, 2017, the FDA announced a new comprehensive plan for tobacco and nicotine regulation in the United States. The FDA announced that it plans to begin a public dialogue about lowering nicotine levels in combustible cigarettes to non-addictive levels. The FDA stated that it will soon issue an Advance Notice of Proposed Rulemaking to seek input on a nicotine mandate. The FDA announcement stated that “lowering nicotine levels could decrease the likelihood that future generations become addicted to cigarettes and allow more currently addicted smokers to quit smoking.” On July 31, 2017, The company announced that the Company is already capable of achieving the FDA’s new product standard; as previously reported, The company is the only company in the world capable of growing tobacco with non-addictive levels of nicotine. The company's proprietary Very Low Nicotine tobacco is grown on independently-owned farms in the United States – without any artificial extraction or chemical processes. The company also announced that, over the last 6 years, agencies of the U.S. federal government have invested more than $100 million on independent clinical research with its proprietary SPECTRUM cigarettes that supports the conclusion that lowering nicotine levels in combustible tobacco cigarettes would drastically improve public health. There are at least 17 completed independent scientific clinical trials using its proprietary Very Low Nicotine tobacco and at least 25 ongoing clinical trials using its proprietary Very Low Nicotine cigarettes. The company have announced that the Company stands ready to partner with the FDA and with any Big Tobacco companies that are committed to improving the health of American smokers.
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41	41	In July and August of 2017, certain of the Holders of the Warrants from the June 19, 2017 warrant exercise transaction exercised an aggregate of 3,813,500 Warrants with an exercise price of $1.00 per share and an aggregate of 1,895,052 Warrants with an exercise price of $1.45 per share for cash, resulting in net cash proceeds to it of $6,167,646, after deducting expenses associated with the exercise. In consideration for Holders exercising their Warrants for cash, The company issued those Holders New Warrants to purchase shares of common stock of the Company equal to the number of shares of common stock received by each such Holder upon cash exercise of the Holder’s Warrants. The terms of the New Warrants are substantially similar to the terms of the Warrants exercised, except the New Warrants (i) have an exercise price equal to $2.15 per share and (ii) are exercisable beginning December 20, 2017 for a period of five (5) years. Accordingly, The company issued an aggregate of 5,708,552 New Warrants to such Holders in July and August of 2017 upon exercise of the Warrants of such Holders.
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