WILLIAMSVILLE, N.Y.--(BUSINESS WIRE)--22nd Century Group, Inc. (NYSE American: XXII), a plant biotechnology company that is a leader in tobacco harm reduction, Very Low Nicotine tobacco, and hemp/cannabis research, announced today that the Company will be added to the Russell 2000, Russell 3000, and Russell Global Indexes when FTSE Russell (Russell) reconstitutes its U.S. and global equity indexes on June 22, 2018. Russell’s preliminary announcement of its annual reconstitution of these Indexes, which includes 22nd Century Group, was posted on the Russell website on Friday, June 8, 2018, after the U.S. stock market closed.
In 2017, Russell added 22nd Century to the Russell Microcap index. With significant growth in the Company’s market capitalization over the last year, 22nd Century has now earned its placement on the more selective Russell Indexes. “22nd Century’s increasing market value reflects the importance of our extraordinary technology portfolio and the promise that our VLN™ tobacco represents in reducing the harm caused by smoking,” explained Henry Sicignano, III, President and Chief Executive Officer at 22nd Century Group. “What’s more, Russell’s inclusion of 22nd Century in its benchmark indexes will serve to generate further interest in our Company among forward-looking investors.”
Russell determines inclusion of companies in its equity indexes by market-capitalization rankings and style attributes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $8.6 trillion in assets are benchmarked against Russell’s U.S. indexes.
About FTSE Russell
FTSE Russell is a leading global index provider creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98% of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world.
FTSE Russell index expertise and products are used extensively by institutional and retail investors around the world. More than $10 trillion is currently benchmarked to FTSE Russell indexes. For more than 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management.
FTSE Russell is wholly-owned by London Stock Exchange Group. For more information, visit www.ftserussell.com
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 hemp/cannabis plants through genetic engineering and plant breeding. The Company’s primary mission in tobacco is to reduce the harm caused by smoking. The Company’s primary mission in hemp/cannabis is to develop proprietary hemp strains for important new medicines and agricultural crops. Visit www.xxiicentury.com and www.botanicalgenetics.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, 2017, filed on March 7, 2018, 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.