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 Content (VLNC) tobacco, and hemp/cannabis
research, announced today the appointment of Michael J. Zercher as the
Company’s Chief Operating Officer.
“Since joining 22nd Century in 2016, Mike has become a highly valued
member of our team providing critical leadership in several areas of our
business. He has a proven track record of leading companies to rapid
growth in challenging regulatory environments, and I am confident that
he will serve 22nd Century’s shareholders well in his newly expanded
role” explained Henry Sicignano, III, President and CEO of 22nd Century
Group.
James W. Cornell, Director & Chairman of the Board of 22nd Century Group
added, “Mike will drive our efforts to successfully bring 22nd Century’s
proprietary VLNC cigarettes to market in the U.S. and internationally,
as well as lead our Company’s strategic expansion in the hemp/cannabis
space. We are very pleased to have Mike in the leadership role of Chief
Operating Officer.”
Mr. Zercher will oversee and direct 22nd Century’s efforts across
marketing, sales, business development, research and development,
regulatory affairs and operations as the Company works to:
1) Support the efforts of the U.S. Food and Drug Administration (FDA)
and others to implement a new Agency rule requiring that all cigarettes
sold in the U.S. contain only minimally or non-addictive levels of
nicotine;
2) Obtain a Modified Risk Tobacco Product (MRTP) marketing order from
the FDA for the Company’s VLNC cigarettes;
3) Commercialize 22nd Century’s proprietary VLNC cigarettes through
strategic partnerships in the U.S. and internationally;
4) Develop the Company’s hemp/cannabis intellectual property portfolio;
and
5) Expand 22nd Century’s presence in the hemp/cannabis value chain.
Mr. Zercher joined 22nd Century in October 2016 as Vice President of
Business Development and has laid a strong foundation that positions the
Company for future growth. He has led the Company’s efforts to develop a
comprehensive hemp/cannabis strategy that the Company believes will
create rapid future growth. In addition, he has supported the Company’s
efforts to continue creating meaningful partnerships using 22nd
Century’s proprietary VLNC cigarettes to help reduce the harm caused by
smoking.
From 2003 until 2009, Mr. Zercher served as Vice President and Managing
Director of Santa Fe Natural Tobacco Company’s (SFNTC) international
business, a subsidiary of Reynolds American, Inc. and the corporate home
of the Natural American Spirit tobacco brand. Under his leadership,
Natural American Spirit’s annual revenue outside the U.S. grew from $8
Million to more than $100 Million while achieving double-digit profit
growth each year, despite declining global industry sales. Mr. Zercher
led the business unit’s aggressive expansion into more than twelve
countries by making strategic acquisitions, developing key partnerships,
building highly successful teams, and executing effective marketing and
sales plans. The Natural American Spirit international business was
eventually sold to Japan Tobacco Inc. for $5 Billion. From 2009 to 2016,
Mr. Zercher was a self-employed consultant to entrepreneurs and
high-growth businesses in the U.S. and Europe, and from 2012 to 2016, he
was the owner of Santa Fe Hard Cider, LLC based in Santa Fe, NM.
About 22nd Century Group, Inc.
22nd Century is a plant biotechnology company focused on technology
which allows it to decrease the level of nicotine in tobacco plants and
modify the levels 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, 2018, filed on March 6,
2019, 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.
Contacts
22nd Century Group
James Vail, Director of Communications
716-270-1523
jvail@xxiicentury.com