Brief: Gvb Biopharma Announces Fire Occurred At Its GVB Biopharma Distillate & Isolate Manufacturing Facility

22nd Century

21/11/2022 23:20

Nov 21 (Reuters) - 22nd Century Group Inc  XXII.O :
    * GVB BIOPHARMA - ANNOUNCED FIRE OCCURRED AT ITS GVB
BIOPHARMA
DISTILLATE & ISOLATE MANUFACTURING FACILITY LOCATED IN GRASS
VALLEY, OREGON, ON NOV 20
    * GVB BIOPHARMA - THERE WERE NO REPORTED LIFE THREATENING
INJURIES, BUT THE FIRE DAMAGED THE FACILITY
    * GVB BIOPHARMA - ALL GRASS VALLEY MANUFACTURING OPERATIONS
WILL
BE CURTAILED
    * GVB BIOPHARMA - CO IS IMPLEMENTING BACKUP PRODUCTION PLANS
AND
BELIEVES ITS CUSTOMERS WILL EXPERIENCE NO DISRUPTION IN SERVICE
OR QUALITY OF PRODUCTS
    * GVB BIOPHARMA - 22ND CENTURY IS CURRENTLY EVALUATING THE
EXTENT
OF THE DAMAGE RESULTING FROM THE FIRE AND THE AMOUNT OF LOSS IS
UNKNOWN AT THIS TIME
    * GVB BIOPHARMA - EXPECTS THAT LOSSES RESULTING FROM THE
FIRE WILL
BE COVERED BY ITS PROPERTY AND BUSINESS INTERRUPTION INSURANCE
POLICIES

Source: (shorturl.at/fiSV4)
Further company coverage:  XXII.O 
 ((Reuters.Briefs@thomsonreuters.com;))