22nd Century Group to Acquire NASCO Products
22nd Century Group, Inc. (OTC: XXII)
announced that the company and NASCO Products, LLC entered into a
definitive and binding agreement for 22nd Century Group to purchase
NASCO Products. NASCO Products, a federally licensed tobacco product
manufacturer, is also a participating member of the Tobacco Master
Settlement Agreement known as the MSA, an agreement among 46 U.S. states
and the tobacco industry administered by the National Association of
Attorneys General (NAAG).
The purchase price for the NASCO acquisition is $1 million payable in a
combination of cash and equity. The purchase agreement also contemplates
that 22nd Century will enter into a management agreement and a sales
agreement at closing with an affiliate of NASCO Products.