22nd Century Group Inc (NYSEMKT:XXII) ticked 12.5% higher to $1.20 on Thursday and were flat in after-hours trading. The company has a market cap of $107.83 million at 90.70 million shares outstanding. Share prices have been trading in a 52-week range of $0.73 to $1.71.
This week, 22nd Century Group Inc shared that representatives of the Company’s wholly-owned subsidiary, Botanical Genetics, have been invited to serve as featured speakers and presenters at the annual Colorado Hemp Expo to be held at the Ranch Events Complex from March 31, 2017, and Saturday, April 1, 2017.
Dr. Paul Rushton, Vice President of Plant Biotechnology, and Thomas James, Esq., Vice President & General Counsel will share business and scientific updates on the company’s advances in the rapidly evolving legal medical marijuana and industrial hemp markets. This will include Dr. Rushton’s featured speech on Friday evening regarding 22nd Century Group Inc proprietary cannabis initiatives such as its recently announced development of THC-free industrial hemp plants and the propagation of medical marijuana strains that are selected for increased levels of medically-important cannabinoids.
“We are developing several exciting new strains of medical marijuana as well as industrial hemp varieties with substantially altered levels of cannabinoids – all of which will be below the legal limit of 0.3% THC,” shared Dr. Rushton. “Following our recently announced success with Zero-THC hemp plants and our major collaboration with the University of Virginia, Botanical Genetics is now aggressively expanding our activities in an effort to make our Company a major source of proprietary plants for both the legal medical marijuana and industrial hemp markets. We look forward to exploring exciting business opportunities with like-minded companies in Colorado.”
He will also speak in a panel discussion on Seeds, Clones, Pesticides and Pollen at the conference while James will speak on three panel discussions: Investments in Hemp, Global Hemp Activities, and The Future of Hemp.
22nd Century Group Inc is a plant biotechnology company that is focused on technology that allows increasing or decreasing the level of nicotine and other nicotinic alkaloids in tobacco plants, and levels of cannabinoids in cannabis plants through genetic engineering and plant breeding.
The company is engaged in various activities, including research and development of less harmful or modified risk tobacco products and tobacco plant varieties; development of X-22, a smoking cessation aid consisting of very low nicotine cigarettes; manufacture, marketing and distribution of its RED SUN and MAGIC cigarettes; production of SPECTRUM research cigarettes for the National Institute on Drug Abuse; contract manufacturing of third-party branded tobacco products, and research and development of plant varieties of hemp/cannabis, such as plants with low to no amounts of delta-9-tetrahydrocannabinol, plants with high levels of cannabidiol, and other non-THC cannabinoids.