US (NC): 22nd Century Group completes sale of Needle Rock Farms assets

22nd Century Group announced closing of the sale of its Needle Rock Farms assets with net proceeds of approximately $770,000 after expenses.

"The sale of unused assets such as Needle Rock Farms which was related to the hemp cannabis business that was sold in December 2023, enables us to redeploy capital into our current growth plans," said Larry Firestone, CEO of 22nd Century Group. "The additional $770,000 in cash increases our cash position which will fund our revenue growth strategies for 2025 that are already generating positive results year-to-date even before we see the benefit of our new VLN® and Partner VLN® launches."

22nd Century will report its complete first quarter results on May 13, 2025, with a conference call the same day.