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Debt Financing / Related, Equity Financing / Related

22nd Century Announces Restructuring Of Panacea Investment, Expansion Of Cannabis Franchise Capabilities

Published: 07/01/2021 13:30 GMT
(EXDI) - 22nd Century Announces Restructuring of Panacea Investment, Expansion of Cannabis Franchise Capabilities.
22nd Century Group Inc - Existing $7 Million Note in Panacea Will Be Exchanged for Ownership of Needle Rock Farms.
22nd Century Group Inc - Will Also Receive a New $4.3 Million Note and $500,000 in Panacea Equity.
22nd Century Group - $7.0 Million in Panacea Life Sciences Series B Preferred Stock Held by 22nd Century Will Be Converted Into 91 Million Shares of Exactus.
22nd Century Group Inc - Transaction is Expected to Be Immediately Accretive to 22nd Century.