22nd Century agrees $1.22M IP payment with NCSU, payable in cash or stock

22nd Century Group, Inc.

Total payment of $1,220,438 to NCSU covers IP licensing, royalties, and sponsored research through 2025.
Consideration may be paid in cash or common stock (up to 19.99% of outstanding shares) in three tranches.
First installment due by September 15, 2024; final by January 15, 2025.
Company extended field trial activity into 2025 under the agreement.
Equity issuance price based on 5-day VWAP; shares subject to registration for resale.

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