• Announces $35 Million Above Market Financing
• Bolsters Company’s Position with Ongoing Strategic Discussions

BUFFALO, N.Y., July 21, 2022 (GLOBE NEWSWIRE) — 22nd Century Group, Inc. (Nasdaq: XXII), a leading agricultural biotechnology company dedicated to improving human health with reduced nicotine tobacco, hemp/cannabis, and hops advanced plant technologies, announced that it has entered into definitive agreements with several institutional investors for the purchase and sale of 17,073,175 shares of its common stock at a purchase price of $2.05 per share in a registered direct offering priced above market under Nasdaq rules. The Company also agreed to issue to the investors unregistered warrants to purchase up to 17,073,175 shares of common stock. The warrants have an exercise price of $2.05 per share, are immediately exercisable and will expire five years following the date of issuance. The closing of the offering is expected to occur on or about July 25, 2022, subject to the satisfaction of customary closing conditions.

The Company intends to use proceeds from the capital raise to accelerate and expand the launch of its VLN^® reduced nicotine content cigarettes in additional U.S. markets. 22nd Century’s VLN King and VLN Menthol King cigarettes contain 95% less nicotine than conventional cigarettes and are authorized as FDA Modified Risk Tobacco Products (MRTP) that “Help You Smoke Less.” The Company is also evaluating accretive strategic actions to bring further scale its business.

“The results of our Chicago VLN^® pilot with Circle K have been very positive. We are now testing specific incentive programs including couponing designed to encourage adult smokers to try VLN as a means to help them smoke less,” said John Miller, President of 22nd Century Group’s tobacco products. “Based on the early results of our pilot, in addition to expanding availability with our existing partners, we are now engaged with multiple parties that have approached us seeking to launch our disruptive VLN^® products into additional markets and channels.”

“Only as one example, we are in discussion with a large distribution partner in Colorado with extensive coverage of convenience, supermarket and drug stores throughout the state. This prospective partner is eager to incorporate our VLN^® products into its distribution network. The combination of a favorable MRTP tax policy and proactive partner make this an attractive state for launch even before the pilot is complete.”

Additionally, the Company provided an update on its integration of GVB Biopharma, which the company acquired in May 2022. The integration process is advancing ahead of schedule, with steady market activity across GVB’s growing business lines. Proceeds from this transaction are not intended for the GVB business. “The integration of GVB – which doubled our revenue in a single transaction – continues to advance ahead of plan,” said James A. Mish, Chief Executive Officer. “We now offer the most complete hemp/cannabis solution in the world, from 22nd Century’s core expertise in receptor science and transformative plant genetics to GVB’s leading position in finished ingredients and CDMO formulated products. Customers and new potential customers are taking note, driving real growth in this business as our combined capabilities drive new momentum on several key opportunities, including the ramp up of new revenue opportunities.

The Special Equities Group (SEG), a division of Dawson James Securities, Inc., acted as sole placement agent for the transaction. Roth Capital Partners acted as a financial advisor.

Full terms of the financing agreement can be found in the Company’s Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission.

About 22^nd Century Group, Inc.
22^nd Century Group, Inc. (Nasdaq: XXII) is a leading agricultural biotechnology company focused on tobacco harm reduction, reduced nicotine tobacco and improving health and wellness through plant science. With dozens of patents allowing it to regulate nicotine biosynthesis in the tobacco plant, the Company has developed proprietary reduced nicotine content (RNC) tobacco plants and cigarettes, which have become the cornerstone of the FDA’s Comprehensive Plan to address the widespread death and disease caused by smoking. The Company received the first and only FDA MRTP authorization of a combustible cigarette in December 2021. In tobacco, hemp/cannabis, and hop plants, 22nd Century uses modern plant breeding technologies, including genetic engineering, gene-editing, and molecular breeding to deliver solutions for the life science and consumer products industries by creating new, proprietary plants with optimized alkaloid and flavonoid profiles, as well as improved yields and other valuable agronomic traits.

Learn more at xxiicentury.com, on Twitter, on LinkedIn, and on YouTube.

Cautionary Note Regarding Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Forward-looking statements typically contain terms such as “anticipate,” “believe,” “consider,” “continue,” “could,” “estimate,” “expect,” “explore,” “foresee,” “goal,” “guidance,” “intend,” “likely,” “may,” “plan,” “potential,” “predict,” “preliminary,” “probable,” “project,” “promising,” “seek,” “should,” “will,” “would,” and similar expressions. Actual results might differ materially from those explicit or implicit in forward-looking statements. Important factors that could cause actual results to differ materially are set forth in “Risk Factors” in the Company’s Annual Report on Form 10-K filed on March 1, 2022. All information provided in this release is as of the date hereof, and the Company assumes no obligation to and does not intend to update these forward-looking statements, except as required by law.

Investor Relations & Media Contact:
Mei Kuo
22nd Century Group, Inc.
Director, Communications & Investor Relations
T: 716-300-1221
[email protected]

Darrow Associates Investor Relations
Matt Kreps
T: 214-597-8200
[email protected]

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

• Credit Facility provides the Company with liquidity to fund operations and organic growth initiatives
• Two-year term provides additional financial flexibility

TORONTO, Dec. 29, 2021 (GLOBE NEWSWIRE) — Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) (“Aleafia Health” or the “Company”) is pleased to announce the closing of a credit facility of up to $19 million (the “Credit Facility”).

“This financing improves our liquidity and capital structure as the Company’s senior secured debt obligations will now mature in December 2023 rather than in August 2022,” said Aleafia Health CEO Geoffrey Benic. “The transaction allows us to continue the growth of our core adult-use and medical cannabis sales channels, as we again expect to realize sequential growth in both channels over the previous quarter.”

The Credit Facility is financed by the Garrington Group of Companies, a Toronto-based private lender providing working capital financing to the underserved, small to mid-sized middle market sector across North America, providing credit facilities that generally range from $1 million to over $30 million. It consists of a revolving receivables facility of up to $7 million and a term loan of $12 million. The maturity date is December 2023. The term loan was fully drawn by the Company upon closing. The revolving receivables facility is expected to be drawn in January 2022 and further thereafter as receivables grow with the Company’s revenue. The interest rate is in-line with the Company’s existing credit facility and is payable monthly. The Credit Facility is secured primarily by way of first lien mortgages on the Company’s Paris, Ontario and Grimsby, Ontario production facilities, and includes customary financial and restrictive covenants. The net proceeds from the Credit Facility will be used to fund working capital, to repay $5 million in principal on the existing senior secured credit facility, announced on August 23, 2021 (the “August Credit Facility”), along with accrued interest and fees, and for general corporate purposes.

The term of the August Credit Facility has been extended from August 2022 to December 2023. In connection with that facility, a first lien mortgage will be granted on the Company’s Port Perry, Ontario outdoor cultivation property.

For Investor & Media Relations:

1-833-879-2533
[email protected]
LEARN MORE: www.AleafiaHealth.com

About Aleafia Health:

Aleafia Health is a vertically integrated and federally licensed Canadian cannabis company offering cannabis health and wellness services and products in Canada. The Company has developed an international footprint, with subsidiaries or investments in German and Australian medical cannabis companies and has products available in both markets. The Company owns and operates a virtual network of medical cannabis clinics staffed by physicians and nurse practitioners who have seen over 75,000 patients to date.

Aleafia Health owns three licensed cannabis production facilities and operates a strategically located distribution centre all in the province of Ontario, including the first large-scale, legal outdoor cultivation facility in Canadian history. The Company produces a diverse portfolio of cannabis derivative products including oils, capsules, edibles, sublingual strips, and vapes, for sale in Canada in the medical and adult-use markets, and in select international jurisdictions.

Forward Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian and United States securities laws. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including risks contained in the Company’s annual information form filed with Canadian securities regulators available on the Company’s SEDAR profile at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release are made as of the date of this news release and the Company does not undertake any obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Vernon, British Columbia–(Newsfile Corp. – October 5, 2021) – True Leaf Brands Inc. (CSE: MJ) (OTC Pink: TRLFF) (FSE: TLAA) (“True Leaf” or the “Company”) has renewed and received new debt funding to advance the development of its planned Monashee Gateway Business Park in Lumby, British Columbia. The new funding enables the Company to install services to phase one of the development. The Company recently listed for sale six lots covering 7.8 acres of land valued at approximately $6.4 million in the Okanagan commercial real estate market. An additional 32 acres will be subdivided and developed in subsequent phases.

True Leaf will allocate the new funds to install water, sewer, power, and landscaping services for the phase one development. The remaining funds will be used to pay down the Company’s property taxes and allocated to an interest reserve and mortgage renewal fees – immediately strengthening the Company’s financial position.

To secure the new funding, True Leaf renewed and increased its first mortgage on its property with Canguard Mortgage Investment Corporation (the “New Mortgage”) on October 1, 2021. The New Mortgage is comprised of a 15-month term, $4,000,000 mortgage loan bearing interest at a fixed rate of 10% per annum (calculated monthly and payable monthly and not in advance). The maturity date is now January 31, 2023 (previously due on December 1, 2021). No principal payments prior to maturity, interest only. The New Mortgage is secured by the Company’s property in Lumby, British Columbia (the “Lumby Property”) and a first priority security interest in all of the Company’s present and after-acquired personal property. The New Mortgage replaces the current mortgage of $3,000,000 with Canguard Mortgage Investment Corporation. The New Mortgage is subject to certain customary financial covenants and the following provisions regarding the additional $1,000,000 (the “advance”):

• Six months interest reserve will be deducted from the advance and applied to the first six months of interest payments ($200,000 including the October 1, 2021 payment);
• 2% amendment and renewal fee ($80,000) is to be deducted from the advance;
• Outstanding property taxes are to be brought up to date ($400,000);
• The remaining balance ($320,000) is to be held in trust and advanced directly to the contractors for work completed to service the Company’s property development.

Phase one lot sales will significantly strengthen True Leaf’s financial position as the Company executes its strategic plan to become the leading processing and distribution services provider for craft cannabis producers in British Columbia. The Company’s 19,500 square foot craft cannabis facility will anchor the Monashee Gateway Business Park creating a diverse and vibrant economic hub in the heart of the North Okanagan.

True Leaf also has a second mortgage of $1,700,000 (the “Second Mortgage”) on the Lumby Property with a second priority security interest in all of the True Leaf Cannabis present and after-acquired personal property for a term of one-year payable December 12, 2021, bearing interest of 12%. The Company is current with the loan and intends to renegotiate or satisfy the second mortgage with the sale of one of the subdivided properties.

About the Company
True Leaf is a Licensed Producer of cannabis preparing to launch a program to provide path-to-market services for micro-cultivators. The program will operate from the Company’s 19,500 square foot facility in Lumby, British Columbia, and offer a full suite of in-house processing services to the craft cannabis community.

To learn more, visit www.trueleafbrands.com.

Investor Contact:

Darcy Bomford
Chief Executive Officer
[email protected]
1 (250) 275-6063

Media Inquiries: [email protected]

Cautionary and Forward-Looking Statements

This news release contains “forward-looking statements” including, among other things, statements relating to the completion and timing for the two-batch amendment from Health Canada, license to sell cannabis products in retail stores, and the expected market for craft cannabis products. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of True Leaf to be materially different from those expressed or implied by such forward-looking information, including but not limited to: whether or not the Company will successfully renegotiate or pay-out its Second Mortgage, whether or not the Company obtains a federal sales license from Health Canada, the impact of general business, economic, competitive, geopolitical, and social uncertainties; regulatory risks; and other risks related to the cannabis industry. Forward-looking statements in this press release are expressly qualified by this cautionary statement. The forward-looking statements in this press release are made as of the date of this press release, and the Company undertakes no obligations to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities law.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.