CLARENCE, N.Y.--(BUSINESS WIRE)--22nd Century Group, Inc. (NYSE MKT:XXII) today announced that on April 21, 2015 in Valencia, Spain at the SH Valencia Palace hotel, the Company will hold a press conference announcing the launch of MAGIC cigarettes in approximately 900 state-licensed retail shops across Spain. MAGIC cigarettes will be available to consumers starting April 24, 2015.
22nd Century’s MAGIC cigarettes are made with the Company’s proprietary very low nicotine tobacco and are manufactured for sale in Europe by Orion Tobacco Corporation. Designed to appeal to discriminating consumers and positioned to compete with premium cigarette brands, MAGIC 0 yields only 0.04 mg nicotine per cigarette – 95% less nicotine than conventional cigarette brands. Indeed, MAGIC 0 is the world’s only virtually nicotine-free tobacco cigarette. MAGIC 2 yields 0.2 mg nicotine per cigarette – an 80% reduction in nicotine as compared to conventional brands.
In accordance with European regulations which require cigarette manufacturers to list the nicotine yield directly on each pack of cigarettes and to round the yield to the nearest 1/10 place, MAGIC 0 packs prominently feature the words: “0.0 mg nicotine.” MAGIC 2 packs read “0.2 mg nicotine.” Dr. Michael Moynihan, VP of Research and Development at 22nd Century remarked: “We are very proud of our technology which allows us to grow the world’s lowest nicotine tobacco. This technology is what makes our extraordinary MAGIC 0 cigarettes possible.”
Aldista 2000, the distributor for MAGIC cigarettes across Spain, has taken pre-orders for MAGIC cigarettes at more than 900 stores and expects to place MAGIC in 2,500 retail stores – approximately 18% of the retail cigarette stores in Spain – by the end of this summer.
Mr. Miguel Molina of Trexper who serves 4,500 retail locations in Spain explained, “Since I learned that MAGIC was coming to Spain, I knew I wanted to sell these nicotine-free cigarettes in my stores. I am confident MAGIC 0 cigarettes will be very well received by consumers who want to be free of their addiction to nicotine.”
"Using proprietary, real tobacco grown in the United States – without any artificial extraction or chemical processes – 22nd Century is the only company in the world that can make '0.0 mg nicotine' cigarettes," explained Henry Sicignano III, President and Chief Executive Officer. "Launching in Spain is an important first step for us... Later this year, we intend to expand distribution of MAGIC cigarettes to other parts of Europe."
About 22nd Century Group, Inc.
22nd Century Group is a plant biotechnology company focused on technology which allows it to increase or decrease the level of nicotine in tobacco plants through genetic engineering and plant breeding. The Company’s mission is to reduce the harm caused by smoking. 22nd Century owns or exclusively controls 128 issued patents plus an additional 52 pending patent applications in 96 countries. The Company’s strong IP position led to a licensing agreement with British American Tobacco (“BAT”), the world’s second largest tobacco company. Visit www.xxiicentury.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. 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, 2014, filed on February 5, 2015, 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.