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22nd Century closes $2.5 million aggregate private placement

| January 16, 2013

In New York, 22nd Century Group has closed a private placement on Friday, January 11, 2013 with an institutional investor. 22nd Century sold 2500 shares of its Series A convertible preferred stock and a 5-year warrant for an aggregate purchase price of $2.5 million. Chardan Capital Markets acted as the exclusive placement agent in this transaction. 22nd Century is a plant biotechnology company whose proprietary technology allows for the levels of nicotine and other nicotinic alkaloids (e.g., nornicotine, anatabine and anabasine) in the tobacco plant to be decreased or increased through genetic engineering and plant breeding.

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Category: Ventures

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