22nd Century Group Inc (XXII)

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https://www.einnews.com/pr_news/508260329/panacea-life-sciences-acquires-colorado-hemp-farm-to-complete-seed-to-sale-model

The acquisition purchase price was a combination of cash and stock. The farm is slated to achieve its organic certification in 2020. The plans for Panacea’s hemp farm in 2020 include seed development, experiments with different strains, and leveraging the intellectual capital of our investment partner, 22nd Century (XXII).

XXII was granted an exclusive sublicense in the United States and a co-exclusive sublicense in the remainder of the world, excluding Canada, to patents and patent applications relating to the cannabis plant that are required for the production of cannabinoids, the major active ingredients in the cannabis plant.

Leslie Buttorff, CEO of Panacea commented that “Panacea plans to use the XXII strains in the 2020 and 2021 grow cycles. We are excited to add Needle Rock Farms to our capabilities and it adds to our full seed to sale capabilities. With the addition of the farm, we are no longer dependent on other farmers to meet the needs of our brand of consumer products.”