22nd Century Group Shares Production Update
22nd Century Group announced in cooperation with the University of Virginia it had completed a harvest of hemp plants and potentially found hemp varieties for commercial production.
22nd Century Group (NYSE:XXII) announced in cooperation with the University of Virginia it had completed a harvest of hemp plants and potentially found hemp varieties for commercial production.
As quoted in the press release:
The 22nd Century-UVA hemp field trials used multiple oil and fiber varieties of hemp. The Company’s first hemp harvest with UVA identified proprietary varieties of hemp that have excellent agronomic properties for growth in the Commonwealth of Virginia. 22nd Century and UVA will use the most promising varieties for expanded plantings designed to optimize plant growth. 22nd Century is also working with UVA on the development of high-value medicinal cannabinoid varieties and specialized cannabinoid extraction processes for use in human therapeutics.
Dr. Michael Timko, the principal scientific investigator at UVA in the Company’s sponsored hemp program, stated: “We are very excited to harvest our first Virginia-based hemp crops in partnership with 22nd Century. We have learned a lot from this first year’s planting and we are planning to take full advantage of the proposed amendments to Virginia’s industrial hemp laws with expanded plantings in 2018.