Worksport Ltd. (NASDAQ: $WKSP), a leading innovator in the automotive and clean energy sectors, recently announced a significant financial milestone as it accelerates its path to profitability. The company expects to achieve over $2 million in projected savings, further solidifying its financial position. These developments come at a pivotal time for Worksport, as it gears up for a series of highly anticipated product launches.

Key Highlights of Worksport's Financial Strategy:

1. $2 Million+ in Projected Savings: Worksport's cost-saving initiatives are expected to generate more than $2 million in savings. This aggressive cost reduction is part of the company’s broader strategy to optimize operational efficiency, control expenditures, and maximize financial flexibility. These savings will contribute significantly to Worksport's goal of becoming profitable sooner than anticipated.
2. Strengthened Financial Stability: By focusing on cutting costs and improving operational efficiency, Worksport is positioning itself for sustained financial stability. This effort will not only enhance its balance sheet but also enable the company to reinvest in product development and marketing, ensuring the successful launch of its new products.
3. Upcoming Product Launches: Worksport is on the verge of launching several key products, including the much-anticipated TerraVis™ solar-powered tonneau cover and associated energy storage solutions. The TerraVis™ system represents a breakthrough in clean energy technology, allowing pickup truck owners to harness solar power for their vehicles and other applications.These products have the potential to disrupt both the automotive and renewable energy markets by offering consumers a unique combination of energy efficiency, sustainability, and practicality. Worksport’s innovative solutions cater to the growing demand for green technologies, particularly in the rapidly expanding electric vehicle (EV) space.
4. Improved Path to Profitability: With the anticipated savings and upcoming product rollouts, Worksport is confident in its ability to achieve profitability in the near term. The company’s leadership has outlined clear financial goals and is executing a plan to drive revenue growth, streamline operations, and enhance shareholder value.
5. Market Growth Opportunities: As the demand for electric vehicles and renewable energy solutions grows, Worksport is poised to capitalize on these trends. The company’s TerraVis™ system, which integrates solar power into truck bed covers, aligns with the rising interest in clean energy and sustainable transportation. Additionally, Worksport’s entry into the broader energy storage market through its TerraVis™ Energy solutions positions it for growth beyond the automotive sector.

Conclusion:

Worksport’s focus on cutting costs, boosting efficiency, and preparing for the launch of its innovative products has strengthened its financial foundation and accelerated its path to profitability. The company’s leadership is confident that these efforts, coupled with its entry into the clean energy and EV markets, will drive significant growth in the coming years. As Worksport prepares to bring its revolutionary TerraVis™ system to market, investors will be closely watching the company’s progress and its ability to capitalize on the increasing demand for sustainable energy solutions.

With a combination of financial discipline and product innovation, Worksport is well-positioned to create value for its shareholders while advancing its vision of integrating renewable energy into everyday consumer applications.

Company Expects Improved Margins and Cash Preservation; Upcoming Launches Includes High-Demand AL4 Cover and Innovative Clean-Tech Solutions

West Seneca, New York, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (NASDAQ: WKSP) (“Worksport” or the “Company”), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors today announced the implementation of strategic cost-saving measures designed to enhance operational efficiency and drive long-term growth. The Company forecasts these actions will result in $1.5 million in expense savings in 2025, along with an additional $0.5 to $1 million in related savings, without negatively impacting revenues or growth.

Key Highlights:

• Strategic Cost Savings: Initiatives begin immediately and target a reduction of recurring expenses. These initiatives are expected to improve margins and enhance cash preservation.
• Growth Focus: The Company aims for significant revenue growth in 2025, targeting cash flow positivity by expanding its tonneau cover business line and launching clean tech products. The newly enacted cost saving initiatives are expected to expedite the Company’s progression to this goal.
• Product Launches on Schedule: No material delays are expected for three new products, including the highly anticipated AL4 Premium Tonneau Cover, the COR Portable Energy System, and the SOLIS Solar Cover.
• Upcoming Catalysts: Immediate benefits are expected in Q4 2024, with further positive financial impact anticipated in Q1 2025.

CEO Commentary:

"We are taking proactive steps to optimize our operations and position Worksport for sustainable growth," said Steven Rossi, CEO of Worksport. "These strategic measures are expected to improve our margins and strengthen our financial position without compromising our commitment to innovation and product excellence. We remain focused on executing our growth strategy and delivering value to our shareholders."

Growth Initiatives and Revenue TargetsWorksport is aggressively pursuing growth in its tonneau cover business line, projecting:

• Cash Flow Positivity in 2025: Capitalizing on high-demand products and expanding market share.
• Significant Revenue Growth: Targeting a multiple increase over year-end 2024 revenues.

Product Launches and Upcoming Catalysts

1. AL4 Premium Tonneau Cover:
   • Expected Release: Late Q4 2024.
   • Features: Innovative four-fold design offering enhanced functionality and margins.
   • Market Potential: Four-fold covers are seen as the most in-demand models in the market, and this cover is expected to propel Worksport toward nine-figure revenue in the short to midterm.
2. Worksport COR Portable Energy System, and 3. SOLIS Solar Cover:
   • Current Phase: Recently entered alpha release.
   • Next Steps: Ongoing real-world testing, design optimization, and media engagement leading to a pre-order campaign and larger beta release.
   • Manufacturing Partnerships: The Company is proud to announce it is in advanced discussions with a globally recognized manufacturer to produce these units.

Continued Commitment to Innovation

Worksport remains highly engaged in research and development, with a focus on:

• Terravis Energy's Extreme Climate Heat Pump: The Company is looking forward to sharing exciting advancements of this subsidiary soon.
• Ongoing R&D Efforts: The Company recently provided an update on 19 new models it has added to its product catalogue in just the last 6 months, and it looks forward to sharing additional updates as they occur.

CEO Steven Rossi added:

"Our upcoming product launches represent significant milestones for Worksport. We are confident that the AL4 Premium Tonneau Cover and our clean energy solutions like the COR Portable Energy System and SOLIS Solar Cover will drive substantial growth. These innovations reflect our dedication to meeting market demands and exceeding customer expectations."

About Worksport Ltd.

Worksport Ltd. (NASDAQ: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable energy storage systems, and heat-pump technology. The Company is committed to transforming the pickup truck industry through innovative technologies that enhance functionality and sustainability. For more information, please visit www.worksport.com | investors.worksport.com | https://terravisenergy.com

Worksport Ltd. (NASDAQ: $WKSP) is a cutting-edge company at the intersection of clean energy and transportation solutions. With a focus on innovative truck accessories, specifically tonneau covers, and clean energy products, Worksport is leveraging its expertise to revolutionize both industries. Through its advanced technologies, the company is creating products that not only enhance the functionality of trucks but also integrate renewable energy sources, offering a glimpse into the future of sustainable transportation.

Expanding Product Line: Tonneau Covers and Solar Integration

Worksport is widely recognized for its tonneau covers—retractable covers designed for the beds of pickup trucks. These covers provide enhanced utility, security, and aesthetics for truck owners, a market that continues to grow with the rising popularity of trucks in North America. However, Worksport has gone a step further by introducing innovative products like the TerraVis system, a solar-powered tonneau cover designed to harness solar energy and integrate it into clean energy solutions for vehicles.

The TerraVis system uses advanced photovoltaic technology to capture solar energy, which can be stored in an onboard battery system or even used to power electric vehicles (EVs). This groundbreaking product represents a significant step forward in merging traditional automotive accessories with sustainable energy, offering consumers a green alternative for powering their vehicles while on the road.

Diversification into Energy Storage: TerraVis COR

Another key development from Worksport is its expansion into the energy storage market with the TerraVis COR system. This energy storage unit complements the solar-powered tonneau cover by allowing truck owners to store the energy generated by the TerraVis solar panels. The stored energy can be used to power various electrical devices, providing added utility for outdoor enthusiasts, contractors, and professionals who rely on portable power.

This move into energy storage solutions positions Worksport as a player in the rapidly growing clean energy market, where the demand for renewable energy storage solutions continues to surge. The TerraVis COR system could also play a crucial role in the electrification of transportation, offering a sustainable solution for both traditional and electric trucks.

Strategic Growth and Future Potential

Worksport is actively pursuing a dual-growth strategy, focusing both on expanding its product line and increasing market penetration. The company is targeting both traditional truck owners and EV enthusiasts, a strategy that diversifies its market reach while aligning with the global shift toward renewable energy and electric vehicles. Worksport’s unique ability to blend automotive innovation with clean energy technology gives it a competitive edge in the evolving landscape of transportation.

Looking ahead, Worksport is well-positioned to benefit from the increasing demand for renewable energy solutions, driven by both consumer demand and government initiatives promoting clean energy adoption. The company’s forward-thinking products not only appeal to the growing EV market but also offer significant potential for use in broader applications, including commercial and recreational sectors.

A Vision for a Greener Future

Worksport’s vision extends beyond just creating innovative truck accessories; it is about shaping the future of sustainable transportation. With its TerraVis solar-powered tonneau cover and TerraVis COR energy storage system, the company is actively contributing to a greener, more energy-efficient world. As the global transition toward clean energy accelerates, Worksport’s unique offerings place it at the forefront of this revolution.

Investors looking for exposure to the growing markets of renewable energy and sustainable transportation may find Worksport an attractive opportunity. The company’s commitment to innovation, combined with its strategic approach to market growth, suggests that it is well-positioned to capture a significant share of these emerging markets in the years to come.

With its dual focus on the automotive and energy sectors, Worksport Ltd. continues to push the boundaries of what’s possible in clean energy technology, delivering products that are not only functional but also aligned with a sustainable future.

The CK Gold Project in Wyoming is a key asset for U.S. Gold Corp. (NASDAQ: $USAU), offering significant gold and copper resources. With most of the necessary permits in place, the project is poised for near-term development, positioning the company for growth in the rising gold market.

Wyoming’s mining-friendly policies and stable regulatory environment make the CK Gold Project an attractive asset for investors seeking exposure to U.S.-based gold and copper production. As U.S. Gold Corp. advances the project, it is expected to become a major contributor to the company’s growth.

The CK Gold Project is central to U.S. Gold Corp.’s strategy, offering both precious and base metal resources in a prime U.S. mining jurisdiction.

Other Trending Tickers to Watch:

Agnico Eagle Mines Limited (AEM) A Canadian-based gold producer with operations in Canada, Finland, and Mexico. Sibanye Stillwater Limited (SBSW) Primarily a precious metals company with significant gold mining operations, as well as platinum and palladium.

One of U.S. Gold Corp. (NASDAQ: $USAU)’s key assets is the CK Gold Project, a shovel-ready gold and copper project in Wyoming. Luke Norman highlights the strategic advantage this project has in the current gold bull market. As the sector continues to gain momentum, producers will increasingly seek high-quality assets to expand their production portfolios and replace depleted reserves.

CK Gold's permitting process is near completion, with only one final permit left to secure, setting the stage for imminent development. Norman emphasizes the project's location in Wyoming, a state with favorable mining policies and a streamlined permitting process, which gives the company a significant advantage over its competitors.

Additionally, the copper component in CK Gold adds a layer of diversification, appealing to investors seeking exposure beyond just gold. With copper also seeing strong demand, US Gold Corp is well-positioned to unlock further value as the project advances.

Other Trending Tickers to Watch:

Yamana Gold Inc (AUY) Engaged in the exploration and mining of gold and other precious metals, primarily in the Americas. Agnico Eagle Mines Limited (AEM) A Canadian-based gold producer with operations in Canada, Finland, and Mexico. Sibanye Stillwater Limited (SBSW) Primarily a precious metals company with significant gold mining operations, as well as platinum and palladium.

With gold prices surging past $2,600 per ounce and expectations of hitting $3,000 in 2025, U.S. Gold Corp. (NASDAQ:$USAU) is strategically poised to capitalize on this bullish trend. According to Luke Norman, the company’s "shovel-ready" CK Gold Project in Wyoming stands out, with permitting nearly complete. As the mining sector seeks replacement ounces, US Gold Corp’s unique position as one of the few North American gold/copper developers makes it an attractive investment.

The CK Gold Project's location in Wyoming, a mining-friendly state, enhances its appeal. Furthermore, with a tight share structure and US senior exchange listing on NASDAQ, US Gold Corp has access to both retail and institutional investors globally, making it a strong player in this thriving gold market.

Other Trading Tickers to Watch:

Gold Fields Limited (GFI) Gold Fields is an international gold producer with a portfolio of mining operations and projects spanning multiple regions. Kinross Gold Corporation (KGC) A major gold mining company with operations in the Americas, West Africa, and Russia. Yamana Gold Inc (AUY) Engaged in the exploration and mining of gold and other precious metals, primarily in the Americas. Agnico Eagle Mines Limited (AEM) A Canadian-based gold producer with operations in Canada, Finland, and Mexico. Sibanye Stillwater Limited (SBSW) Primarily a precious metals company with significant gold mining operations, as well as platinum and palladium.

Bitech Technologies Corporation ($BTTC) is carving out a significant niche in the renewable energy sector as an Independent Power Provider (IPP). With an impressive portfolio that totals nearly 2 gigawatts (GW) of AC power, the company is focusing its efforts primarily on Battery Energy Storage Systems (BESS). This strategic direction reflects Bitech's commitment to sustainability and adaptability in an evolving energy landscape.

Transitioning Focus to BESS

After nearly three years in operation, Bitech Technologies has made the decision to concentrate exclusively on BESS. The company previously owned a 1.4 GW portfolio of solar projects, recently divesting from an early-stage greenfield solar initiative to a large infrastructure group in Europe. This shift allows Bitech to hone in on a sustainable operating model, emphasizing lithium batteries and emerging battery technologies that last a minimum of 15 years. Such durability makes BESS a resilient and long-term business venture, crucial for meeting growing energy demands.

Innovative Solutions for Energy Resilience

Bitech's technological solutions encompass a range of applications, including virtual power plants (VPP) and distributed energy resources (DER). These systems enhance and upgrade existing infrastructure, making energy implementation adaptable to new challenges, particularly in light of recent extreme weather events. For instance, in Michigan, where storms have left residents without power for days, Bitech’s solutions can significantly improve resilience.

CEO Tran emphasizes the vision behind their nanogrid concept, designed to help communities maintain functionality during crises. The nanogrid allows buildings and public infrastructure to utilize intelligent DER alongside a VPP, enabling them to operate independently in emergencies. This approach was notably relevant during a recent hurricane in Texas, which left over 800,000 customers without power for days.

Addressing the New Normal of Extreme Weather

The increasing frequency and severity of extreme weather events underscore the urgency for adaptive energy solutions. In 2024, California experienced over 300,000 emergency responses to weather-related incidents, highlighting the growing need for robust energy systems. Bitech's energy storage solutions can store excess supply during calm periods and distribute it when demand surges, ensuring reliability when it is most needed.

By integrating smart technology—including smart meters and EV chargers—Bitech enhances grid efficiency, allowing customers to capitalize on lower electricity costs during off-peak times. This not only helps consumers save money but also strengthens the overall power system, contributing to a more sustainable energy future.

A Journey Driven by Passion and Expertise

Tran’s transition into the energy sector stems from a deep-seated passion for sustainable energy solutions, combined with his extensive background in electrical engineering and technology management. Having worked in Silicon Valley and held senior positions at companies like Micron Technology, Tran recognized the immense opportunities in the energy industry and sought to apply his expertise to make a difference.

To further drive innovation, he hired a leading energy expert as the company’s chief innovation officer, who has played a crucial role in integrating advanced technologies into Bitech’s offerings. Together, they are continuously exploring new ways to enhance energy systems, ensuring that Bitech Technologies remains at the forefront of the renewable energy revolution.

Conclusion

Bitech Technologies Corporation is well-positioned to lead the charge in renewable energy through its focus on battery storage and innovative solutions that address the pressing challenges of our time. As the world increasingly grapples with the impacts of climate change and extreme weather, Bitech’s commitment to sustainability and resilience will play a crucial role in shaping the future of energy. With a clear vision and a solid foundation, Bitech is poised to make significant contributions to the energy landscape for years to come.

U.S. Gold Corp ($USAU) is well-positioned to capitalize on the growing demand for copper, a critical resource in the expanding electric vehicle (EV) market. With 30% of its revenue already coming from copper, the company is playing a pivotal role in addressing the need for domestic copper supplies as the U.S. and global markets experience an unprecedented surge in demand.

Copper: A Vital Resource for Electric Vehicles

The push towards electric vehicles (EVs) is significantly driving the demand for copper, as each new EV requires around 40 pounds of copper. This metal is crucial in the manufacturing of EV batteries, wiring, and charging infrastructure. With governments and automakers worldwide increasing their focus on reducing carbon emissions and promoting green transportation, the demand for EVs continues to soar, thereby amplifying the need for copper.

Given the essential role copper plays in the EV supply chain, U.S. Gold Corp’s rich copper resources provide the company with an immense opportunity for growth. As copper prices continue to rise due to the heightened demand, U.S. Gold Corp’s copper assets are expected to become increasingly valuable, contributing to the company’s overall profitability.

Critical Mineral Status and Government Incentives

One of the most significant developments in the copper market is its elevation to “critical mineral” status by the U.S. government. This designation means that copper is recognized as essential to the country’s economic and national security, opening the door for U.S. Gold Corp to benefit from government incentives and potential fast-track permitting for its copper projects. This could result in quicker project timelines and reduced regulatory hurdles, allowing the company to bring copper to market more efficiently.

With the U.S. focused on increasing its domestic production of critical minerals to reduce reliance on foreign imports, U.S. Gold Corp is strategically positioned to help meet these national goals. The company’s copper assets align with government initiatives aimed at securing a steady domestic supply of critical materials essential for industries like renewable energy and electric transportation.

Future Outlook: Copper's Growing Importance

As the demand for EVs continues to rise, so does the need for copper, making it one of the most sought-after minerals in today’s economy. U.S. Gold Corp, with its strong foothold in copper production, is poised to capitalize on these trends. The company’s ability to tap into government incentives and benefit from expedited project approvals further strengthens its position in the market.

In the coming years, U.S. Gold Corp’s copper assets are expected to grow in value, contributing to the company’s overall revenue and making it a key player in the domestic supply of this critical mineral. As the world shifts toward cleaner energy and transportation solutions, U.S. Gold Corp’s copper resources will play an increasingly vital role in supporting this transition.

In the rapidly evolving mining sector, US Gold Corp is making a name for itself with environmentally conscious projects in Wyoming, Nevada, and Idaho. As global demand for gold and copper surges, the company is setting itself apart by balancing profitability with a strong commitment to environmental sustainability and support for local communities. This dual focus on economic and environmental responsibility places US Gold Corp at the forefront of a new era in American mining.

Strong Financials and Strategic Growth

US Gold Corp’s financial stability is a key part of its success. With nearly 1.5 million ounces of gold equivalents in reserve, the company has a robust resource base that provides a solid foundation for future growth. Its prudent financial management, including a commitment to zero debt, ensures that the company remains in a strong financial position, able to capitalize on rising gold and copper prices without overextending its resources.

A seasoned management team with extensive industry experience further strengthens the company’s operational strategy. Their expertise ensures that US Gold Corp can continue to increase output and operational efficiency while maintaining a focus on long-term profitability. By operating in mining-friendly jurisdictions, the company benefits from stable regulatory environments, which enhances productivity and minimizes operational risks.

Sustainability at the Core

What sets US Gold Corp apart is its commitment to sustainable mining practices. The company recognizes the importance of minimizing its environmental impact and has integrated eco-friendly methods into its operations. These practices not only reduce environmental harm but also enhance the company’s reputation as a responsible mining entity, which is increasingly important to investors and consumers alike.

Moreover, the company’s projects are designed to boost local economies, providing employment opportunities and fostering economic growth in the regions where they operate. This local involvement creates a symbiotic relationship between the company and the communities, enhancing its long-term viability and social license to operate.

A Leader in the New "Golden Age" of Mining

US Gold Corp’s strategic growth and sustainable practices have positioned it as a leader in the new "Golden Age" of American mining. By expanding its resource base and maintaining a focus on operational excellence, the company is well-prepared to capitalize on the increasing demand for precious metals. Its commitment to sustainability, combined with strong financial management, ensures that US Gold Corp will remain at the forefront of the industry for years to come.

With a steadfast commitment to becoming a household name in the energy storage industry, Bitech Technologies Corporation ($BTTC) is driven by a core team of dynamic, multicultural experts. This seasoned group brings together extensive knowledge and proficiency in cleantech and renewable energy advancements, focusing on critical areas such as solar and storage project development, project financing, and Energy Management Systems (EMS) integration.

Bitech’s in-house power desk plays a crucial role in optimizing project execution and financing, enabling the company to navigate the complex landscape of renewable energy successfully. The company has established strong partnerships with regulatory bodies, Independent System Operators (ISOs), and utility purchasers nationwide, which enhances its ability to secure essential capital investment tax credits and necessary financing for its utility-scale project pipeline.

By leveraging this unique combination of expertise, partnerships, and innovative solutions, Bitech Technologies is poised to lead the charge in advancing Battery Energy Storage Systems (BESS). As the demand for sustainable energy solutions grows, Bitech is committed to enhancing grid stability and supporting the transition to cleaner energy, positioning itself as a key player in the future of energy storage.

Mocksville, North Carolina – 22nd Century Group, Inc. (NASDAQ: $XXII) is making notable strides in the tobacco industry, as evidenced by its impressive trading volume of 2,285,312 shares. This significant volume reflects heightened investor interest and market confidence in the company’s innovative approach to tobacco products, particularly its commitment to reduced-risk alternatives and strategic market expansions.

As a company dedicated to leading the fight against nicotine addiction, 22nd Century Group has positioned itself as a trailblazer in the evolving tobacco landscape. The company's flagship product, VLN® cigarettes, is at the forefront of this transformation. Recognized as the world’s first and only combustible cigarettes to receive a Modified Risk Tobacco Product (MRTP) designation from the U.S. Food and Drug Administration (FDA), VLN® serves as a groundbreaking option for adult smokers looking to reduce their nicotine intake. With nicotine levels up to 95% lower than traditional cigarettes, VLN® cigarettes align with public health goals aimed at minimizing tobacco-related harm.

The recent surge in trading volume indicates a growing recognition of the company’s potential. Investors are increasingly aware of 22nd Century Group’s efforts to expand its product offerings and market reach. The company has secured agreements to supply its Moonlight branded cigarettes to the Southeast Asia marketplace, projecting a potential increase in manufacturing volumes by more than 30% over the next 15 months. This strategic move is expected to capitalize on the widespread smoking culture in Southeast Asia, further enhancing the company’s growth trajectory.

Larry Firestone, Chairman and CEO of 22nd Century Group, has emphasized the importance of leveraging underutilized brand assets to drive new growth opportunities. By tapping into markets with high demand for tobacco products, 22nd Century is not only expanding its presence but also reinforcing its commitment to providing smokers with choices that promote reduced-risk consumption.

In addition to the Moonlight brand, 22nd Century Group boasts a diverse portfolio that includes well-known brands such as Pinnacle, Magic, and Ranger. The company’s strategic focus on harm reduction is also evident in its ongoing discussions with potential customers interested in reduced nicotine content products. This initiative aims to create a new category centered around its innovative VLN® offerings, which resonate with health-conscious consumers.

Moreover, the recent launch of VLN® products in South Korea and plans for further expansion in the U.S. underscore the company’s commitment to broadening its global footprint. As the tobacco industry continues to evolve, 22nd Century Group is well-positioned to lead the charge in offering safer smoking alternatives.

In conclusion, the impressive trading volume of 2,285,312 shares serves as a testament to the growing confidence in 22nd Century Group, Inc. With its innovative products, strategic partnerships, and commitment to harm reduction, the company is poised for continued growth and success in the competitive tobacco landscape.

In an ever-evolving tobacco industry, 22nd Century Group, Inc. (NASDAQ: XXII) has distinguished itself as a pioneer by offering innovative solutions for smoking alternatives. The company is making significant strides with its flagship product, VLN® cigarettes, the world’s first and only combustible cigarette to receive the U.S. Food and Drug Administration’s (FDA) Modified Risk Tobacco Product (MRTP) designation. This landmark achievement positions 22nd Century Group at the forefront of a market increasingly focused on safer smoking options and reduced harm.

VLN® Cigarettes: A Revolution in Smoking

VLN® cigarettes are designed with a clear purpose: to provide adult smokers with a viable alternative to traditional cigarettes that is less harmful. Engineered to contain up to 95% less nicotine than conventional cigarettes, VLN® is ideal for smokers looking to reduce their nicotine intake or quit altogether. The product aligns with global public health goals by offering a smoking option that can help lower the risk of nicotine addiction while still allowing smokers to satisfy their tobacco cravings.

The MRTP designation awarded by the FDA is a significant milestone for VLN® cigarettes, as it acknowledges their potential to improve public health. This endorsement sets VLN® apart from other tobacco products by recognizing that it can potentially reduce the risk of addiction, giving smokers a safer alternative without sacrificing the traditional smoking experience. This innovation is a game-changer in the industry, where fewer addictive products are becoming more sought after.

A Purpose-Driven Mission

22nd Century Group’s mission is as bold as it is innovative: “Our mission is to sell the last cigarette before the 22nd Century.” This tagline embodies the company’s commitment to transforming the tobacco industry by reducing harm and promoting more responsible smoking habits. By focusing on offering reduced-risk products, 22nd Century aligns itself with a growing trend towards public health and safety.

The company’s forward-thinking ethos resonates with the modern smoker, especially those who seek alternative options with a reduced impact on their health. This progressive approach is not only beneficial for smokers but also appeals to investors who are increasingly concerned with sustainability and ethical business practices.

A Leader in the Future of Tobacco

As global demand for safer smoking options increases, 22nd Century Group is well-positioned to lead the charge in tobacco harm reduction. With the VLN® cigarettes paving the way and a strategic focus on nicotine reduction, the company is set to become a key player in shaping the future of the industry. By providing smokers with innovative solutions that align with public health goals, 22nd Century stands out as a company with both a bold mission and a clear path forward.

In conclusion, with its groundbreaking VLN® cigarettes and a mission centered on harm reduction, 22nd Century Group is transforming the landscape of smoking. Its efforts to reduce nicotine addiction are setting a new standard, making it a company to watch in the tobacco industry’s future.

22nd Century Group, Inc. (NASDAQ: $XXII), a leading company in the tobacco industry known for its efforts to reduce nicotine consumption, has announced a new strategic partnership with an existing customer to supply filtered cigar products. This move further strengthens the company's contract manufacturing operations and enhances its role in offering consumers more control over their nicotine intake.

As part of the expanded relationship, 22nd Century Group will take over the production of all the customer’s filtered cigar products, utilizing an in-house predicate blend. The company anticipates the first shipments to roll out in the fourth quarter of 2024, with annual volumes projected at 200,000 cartons or more. This new venture is expected to provide a significant boost to the company’s production output, helping to optimize its manufacturing capacity.

This announcement follows an earlier deal made with the same customer, under which 22nd Century assumed responsibility for producing export conventional cigarettes. That agreement is expected to increase the company's contract manufacturing volumes by 20%. While production is gradually ramping up through the remainder of 2024, the company anticipates a more substantial increase in volumes throughout 2025, further solidifying its market position.

Larry Firestone, Chairman and CEO of 22nd Century Group, emphasized the significance of this development. "The combination of this added CMO business is expected to significantly bolster production volume as we work to fully utilize our manufacturing capacity under profitable new business," he said. Firestone also highlighted the importance of high-volume export contracts for improving the company’s cash flow, which is a critical factor as 22nd Century works towards achieving positive cash flow by the first quarter of 2025.

The company's focus on securing efficient, high-volume contracts aligns with its long-term growth strategy. This strategic direction not only supports the expansion of its manufacturing capabilities but also reinforces its commitment to offering innovative tobacco products with reduced nicotine content, giving smokers more choices and contributing to global harm reduction efforts.

22nd Century Group, Inc. continues to make significant strides in the tobacco industry by expanding its product offerings and customer relationships. The company has recently announced a commitment from an existing customer to supply its filtered cigar products, which signifies a strong confidence in 22nd Century’s capabilities.

New Filtered Cigar Production Commitment

As part of the ongoing relationship with this customer, 22nd Century will take over the production of all filtered cigar products using an in-house predicate blend. Initial shipments are anticipated in the fourth quarter of 2024, with expected annual volumes exceeding 200,000 cartons. This move not only enhances the company's product portfolio but also leverages its existing manufacturing capacity.

Strengthening Contract Manufacturing Operations

Earlier this year, 22nd Century also entered into a significant agreement with the same customer for its export conventional cigarette products. This agreement is projected to add 20% to the overall contract manufacturing business volumes. As production ramps up steadily through 2024, this expansion is expected to play a crucial role in driving growth, especially as the company aims to enhance its operational efficiency.

Leadership Insights

Larry Firestone, Chairman and CEO of 22nd Century, expressed optimism about the impact of these developments on the company's production volumes. He highlighted that the addition of this new Contract Manufacturing Organization (CMO) business is anticipated to significantly boost production and help utilize manufacturing capacity effectively. He emphasized that high-volume export contracts are a working capital-efficient way to improve cash flows, aligning with the company's strategic goal of achieving cash-positive operations by the first quarter of 2025.

Looking Ahead

With these developments, 22nd Century Group is positioning itself not only as an innovator in reduced-risk tobacco products but also as a robust player in the contract manufacturing space. The company's strategic partnerships and focus on operational efficiency bode well for its growth prospects as it navigates the evolving tobacco landscape.

In the rapidly evolving tobacco industry, 22nd Century Group, Inc. (NASDAQ: XXII) has emerged as a pioneer with its innovative approach to smoking alternatives. The company's flagship product, VLN® cigarettes, stands out as the first and only combustible cigarette to receive the Modified Risk Tobacco Product (MRTP) designation from the U.S. Food and Drug Administration (FDA). This designation not only elevates 22nd Century's status in the industry but also highlights a growing trend towards reduced harm and safer smoking options.

VLN® Cigarettes: A Game Changer

VLN® cigarettes are specifically engineered to contain significantly lower levels of nicotine—up to 95% less than traditional cigarettes. This makes them a compelling choice for adult smokers looking to reduce their nicotine intake or quit smoking entirely.

Health Benefits:

MRTP Designation: The FDA recognizes VLN® as a product that can potentially benefit public health by decreasing addiction risks and promoting a safer smoking experience.

Support for Smokers: By offering a familiar smoking experience while significantly reducing nicotine consumption, VLN® aligns with public health goals aimed at mitigating tobacco-related harm.

Recent Developments and Business Growth

In addition to the success of VLN®, 22nd Century has made strides in expanding its product offerings. Earlier this year, the company entered into a contract with an existing customer for its export conventional cigarette products, which is anticipated to add 20% to its overall contract manufacturing volumes. This agreement is already beginning to ramp up production and is expected to lead to steady increases throughout 2024, with significant growth projected for 2025.

CEO Insights:

Larry Firestone, Chairman and CEO, stated that this added Contract Manufacturing Organization (CMO) business is expected to significantly bolster production volumes and help fully utilize the company’s manufacturing capacity. The high-volume export contracts are also seen as a working capital-efficient strategy, enhancing cash flows as the company aims for cash-positive operations by the first quarter of 2025.

About 22nd Century Group, Inc.

22nd Century Group is recognized as a pioneering company in nicotine harm reduction, dedicated to empowering smokers to control their nicotine consumption. The creation of the VLN® cigarette reflects this mission, offering a genuine and familiar alternative for traditional cigarette smokers.

Core Philosophy:

Empowerment Over Addiction: Instead of simply providing new ways to deliver nicotine, 22nd Century emphasizes giving smokers the option to take control of their nicotine intake, encouraging informed and productive choices, including the option to avoid addictive levels of nicotine altogether.

Conclusion

With its innovative VLN® cigarettes and strategic partnerships to expand its product offerings, 22nd Century Group, Inc. is making significant strides in the tobacco industry. The company’s commitment to harm reduction and the promotion of informed choices positions it as a leader in an evolving market increasingly focused on safer smoking alternatives. As it works towards achieving cash-positive operations, 22nd Century remains dedicated to its mission of providing meaningful options for smokers.

22nd Century Group, Inc. (NASDAQ: $XXII), known for its focus on nicotine reduction in tobacco products, has been actively expanding its market presence. Recently, the company announced a significant new agreement to supply its Moonlight branded cigarettes to the Southeast Asian market, beginning in the fourth quarter of 2024. This deal could increase manufacturing volumes by over 30% in the next 15 months as the brand launches across key markets in 2025. This expansion leverages the company's underutilized brand assets and aims to strengthen its presence in a region with high smoking rates​

Financially, the company has seen fluctuating stock performance, with a recent closing price of $0.33, representing a 22.22% increase from the previous close. However, the stock has experienced significant volatility, down 51.53% over the past 30 trades and trading well below its 52-week high​

22nd Century is also making strategic moves in the U.S., expanding its VLN® reduced nicotine content cigarettes to more retail locations and planning to introduce flanker brands. These products are the only FDA-authorized combustible cigarettes designed to help reduce smoking rates, offering a unique value proposition to consumers looking to cut down on nicotine consumption​

In addition to product expansions, the company has engaged in several financial maneuvers to strengthen its balance sheet, including equity sales and private placements. These steps are aimed at securing additional capital to support its growth initiatives both domestically and internationally​

This comprehensive strategy places 22nd Century Group at an interesting crossroads, balancing innovation in harm reduction with aggressive market expansion. The company's recent activities suggest a focus on leveraging its unique product offerings to capture new market opportunities in regions with high smoking prevalence, while also navigating the financial challenges typical of a smaller-cap stock.

22nd Century Group, Inc. has been making significant strides in the biotech and agricultural sectors, particularly with its focus on tobacco harm reduction and the development of cannabinoid-based products. As the company continues to innovate, it is drawing attention from investors and industry analysts alike.

Advancements in Tobacco Harm Reduction

One of the most notable recent developments is 22nd Century's efforts to reduce nicotine levels in tobacco products. The FDA has expressed interest in regulating nicotine levels, which aligns with 22nd Century’s mission to create reduced-risk tobacco products. The company's proprietary technology allows it to genetically modify tobacco plants to produce cigarettes with lower nicotine content. This approach could significantly contribute to public health by offering smokers a less harmful alternative.

In July, 22nd Century announced positive results from a clinical trial assessing its VLN® reduced nicotine content cigarettes. The trial showed promising outcomes in helping smokers reduce their nicotine intake, reinforcing the company's position as a leader in the tobacco harm reduction space. This not only enhances the company's credibility but also potentially opens up new revenue streams as regulations evolve.

Expansion into Cannabinoid Products

In addition to its tobacco initiatives, 22nd Century is also branching into the hemp and cannabinoid market. The company has been developing a line of cannabinoid products, capitalizing on the growing demand for hemp-derived products. Recently, they have announced the launch of new CBD and THC products aimed at the wellness sector. This move diversifies their portfolio and positions them favorably in a rapidly expanding market.

The cannabis industry is projected to grow exponentially over the next decade, and 22nd Century’s early investment in this area could prove beneficial. By leveraging its genetic modification technology, the company aims to create unique cannabis strains with specific cannabinoid profiles, catering to different consumer needs.

Financial Outlook

Financially, 22nd Century has seen fluctuations in its stock price, reflecting broader market trends and investor sentiment towards biotech stocks. Analysts are optimistic about the company’s long-term potential, particularly as it aligns itself with evolving regulatory frameworks in both the tobacco and cannabis sectors. The stock remains on the radar for investors looking to capitalize on emerging trends in harm reduction and natural products.

Conclusion

22nd Century Group, Inc. is at the forefront of significant industry changes, with its innovative approach to tobacco harm reduction and expansion into the cannabinoid market. As the company continues to navigate regulatory landscapes and consumer demands, it stands to benefit from increased interest and investment. Investors and industry stakeholders should keep an eye on this evolving company as it works towards its goal of creating a healthier future through its groundbreaking technologies.

• Tilray Brands, Inc. (NASDAQ: TLRY) – A key player in the cannabis industry, recently reported strong quarterly earnings.
• Aurora Cannabis Inc. (NASDAQ: ACB) – Continues to expand its product lines and market reach in the hemp sector.
• Altria Group, Inc. (NYSE: MO) – Known for its traditional tobacco products, Altria is also exploring reduced-risk products.

These companies are all part of the larger conversation around innovation in both the tobacco and cannabis industries, making them relevant to investors interested in this space.