22nd Century Group Inc (XXII)

[nonameface13]

Here's Nathan's response:

Canopy Growth just received the same license from NY that we already have. They are talking about growing hemp in NY for agricultural/industrial purposes. In contrast, as a biotech company, we are using our license to pursue biotech activities including variety development. … we may create the varieties that Canopy Growth someday uses in its plantings. Perhaps more importantly, we are working to create hemp varieties that have medicinal uses which is a much higher value use than hemp as an agricultural commodity.

Of course, our objective has never been to be a commodity grower of hemp or to invest $150 million to grow “tons of hemp” as is apparently the plan for Canopy Growth.