22nd Century Group Inc (OTCBB:XXII) Successful Venture

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Las Vegas, NV -- (SBWIRE) -- 12/17/2013 -- 22nd Century Group Inc (OTCBB:XXII) operates in biotechnology company and works on X-22 Smoking Cessation Aid production. The company also offers Modified Risk Cigarettes, BRAND A and BRAND B Cigarettes. The company launched two new brands recently named RED SUN and MAGIC in U.S.

22nd Century says that its warrant exchange program was a successful venture. The management did not expect such a success. The company says that the warrant exchange minimized its derivative warrant liability by 93%.

22nd Century Group Inc received gross proceeds of $3.6 million through warrant exchange. The company has $6.2 million cash balance as of December 13, 2013. The company’s CEO John Brodfuehrer stated that the company has around $10 million net stockholders’ equity. The company has common stock share volume of 56,691,897 shares.

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