BRIEF-22Nd Century Group Eliminates $5.2 Mln Debt In Above-Market Equity Transaction

Reuters04-30

April 30 (Reuters) - 22nd Century Group Inc :

* 22ND CENTURY GROUP INC - ELIMINATES $5.2 MILLION OF DEBT IN ABOVE-MARKET EQUITY TRANSACTION

* 22ND CENTURY GROUP - THE TRANSACTION STIPULATES THAT OMNIA MAY NOT OWN MORE THAN 19.99% OF THE COMMON STOCK OUTSTANDING

* 22ND CENTURY - BINDING LOA TO REDEEM $5.2 MILLION IN OUTSTANDING PRINCIPAL AND INTEREST ASSOCIATED WITH OMNIA SUBORDINATED NOTE AND OUTSTANDING WARRANTS

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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