Undisclosed Accredited Investors Invest $4.5 Million in Private Placement for 22nd Century Group, Inc. as it Completes Merger with 22nd Century Limited, LLC

Based in Williamsville, New York, 22nd Century Group is a company which is devoted primarily to creating tobacco harm and addiction products. On January 26, 2011, the company has announced that it has secured $4.5 million in financing in a private placement from various accredited investors and has also successfully completed its merger with 22nd Century Limited.

22nd Century Limited is a company that has a similar product line as that of 22nd Century Group, and with the merger of the two companies, the product lines of both companies will be under the brands of 22nd Century Limited. Furthermore, as of January 25, 2011, the shares of 22nd Century Group will be sold on the OTC bulletin board with the symbol XXII, which is the Roman numeral for 22.

The merger of the two companies will improve the tobacco harm and addiction reduction products by developing its proprietary technology that allows for the reduction of nicotine and related alkaloids from the tobacco plant. Among the achievements of 22nd Century includes the ownership of over 97 patents in 79 different countries.

According to the 22nd Century Limited website, the company advertises several different prescription drugs to help people kick the habit, so to speak. One of these drugs is the X-22. X-22 is a kit of cigarettes what are made from a very low nicotine tobacco that is a genetically engineered tobacco gnus the company has developed and patented. The aim of this drug is to slowly wean patients off tobacco and nicotine addiction and to eventually quit smoking all together.

There are two reasons why 22nd Century believes that once approved by the FDA, the X-22 drug will aid smokers to kick the habit.

1. X-22 is a low nicotine tobacco genus, which will reduce a patient’s intake of nicotine when he or she smokes the special cigarettes.
2. Putting an end to the actual act of smoking and nicotine delivery into the body.

With the development of the X-22 drug, 22nd Century is aiming to develop one of the world’s leading nicotine addiction reduction drug that functions of biochemical development of genetically engineered tobacco plants.

One of the latest achievements that 22nd Century has developed came on the heals of the passage of the Tobacco Control Act in 2009. This law gives the FDA control over cigarette and other tobacco products and the marketing of such products. Furthermore, the Tobacco Control Act also gives the FDA regulatory control over modified risk cigarettes which are prescription cigarettes that are designed to do much the same as X-22 is designed to do. Since the passage of this law, 22nd Century has been dedicated to create these solutions.

As the merger takes affect, the management team of 22nd Century Limited, LLC, will take over all the operations and also serve as the management team of 22nd Century Group, Inc. Some of the members of the new management team will include the company’s founder and CEO, Joseph Pandolfino; company president, Henry Sicignano; and others.

According to Mr. Pandolfino, leading researchers have shown that smoking cessation by reducing tobacco addiction with low nicotine tobacco cigarettes have shown great promise in this emerging industry. Mr. Pandolfino also added that with the ongoing research in this field and the successful development of the X-22 drug can meet an overwhelming unmet need worldwide in getting more people to quit smoking.

One of the investors who advised and oversaw the merger was Rodom & Renshaw, LLC, which is a subsidiary of Rodom & Renshaw Capital Group. 22nd Century Limited was founded in 1998 with the commitment to reduce smoking worldwide.