Company: XXII
Filing Date: 2025-06-10
Form Type: PRER14A
Source: 0001641172-25-014371
Chunk: 79

Company: 22nd Century Group, Inc.
Filing Date: 2025-06-10
Form: PRER14A
Chunk 79
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enture would result in shares of common stock being potentially issued at a price below the Minimum Price and if this offering were combined with other offerings, it is possible that Section 5(b) of the Amended Debenture would violate Rule 5635(d) without approval of our stockholders.

Possible Effects of the Proposal

If the stockholders do not approve this Proposal 9, then the Voluntary Conversion Option will not be included in the Amended Debenture. However, the Company, as provided in the JGB Amendment will also be obligated to incur additional management resources and expenses to call and hold a meeting every in commercially reasonable increments thereafter to seek such stockholder approval until stockholder approval is obtained. Additionally, the failure to obtain stockholder approval may discourage future investors from engaging in future financings with us. If these consequences occur, we may have difficulty finding alternative sources of capital to fund our operations in the future on terms favorable to us or at all. We can provide no assurance that we would be successful in raising funds pursuant to additional equity or debt financings.

<div align='center'>Our Board of Directors recommends that the stockholders vote “FOR” Proposal 9 to
approve the Voluntary Conversion Option in the Debentures pursuant to Rules 5635(b) and (d) of the Nasdaq Stock Market.</div>

| 49 |

<div align='center'>PROPOSAL NO. 10

THE RATIFICATION OF THE APPOINTMENT OF FREED MAXICK P.C. AS

THE COMPANY’S INDEPENDENT REGISTERED CERTIFIED PUBLIC ACCOUNTING FIRM FOR

FISCAL YEAR 2025</div>

The Audit Committee has appointed Freed Maxick P.C. (“Freed”) as our independent registered certified public accounting firm for the fiscal year 2025 and has further directed that the selection of Freed be submitted to a vote of stockholders at the Annual Meeting for ratification.

In selecting Freed to be our independent registered public accounting firm for 2025, our Audit Committee considered the results from its review of Freed’s independence, including (i) all relationships between Freed and our Company and any disclosed relationships or services that may impact Freed’s objectivity and independence; (ii) Freed’s performance and qualification as an independent registered public accounting firm; and (iii) the fact that the Freed engagement audit partner is rotated on a regular basis as required by applicable laws and regulations.

Our Audit Committee charter does not require that our stockholders ratify the selection of Freed as our independent registered public accounting