Grants, New Mexico, January 17, 2023 (GLOBE NEWSWIRE) — Bright Green Co., Ltd. (NASDAQ: BGXX) (“Bright Green” or “we”). we The government intends to legally grow, manufacture and sell cannabis and cannabis-related products for research, medicinal use and related exports under federal and state law, and today announced progress on the execution of its business plan. We provided an update on the situation and the rollout towards 2023. .
Followed by U.S. Drug Enforcement Administration (DEA) Inspection of Bright Green’s agricultural complex (including existing facilities, greenhouses and manufacturing facilities). September 2022, we are very pleased to announce the completion of our processing facility. We are currently planning a “dry run” audit to test both SOPs (standard operating procedures) and throughput as a requirement prior to final registration.
“We thank the DEA for their support and continued visits to their state-of-the-art agricultural and Schedule 1 manufacturing complex in Grants.” Terry Raffy, Chief Executive Officer and Chairman of the Board of Bright Green. “We have also focused on the capital requirements to execute the next phases of the facility and the completion of the business plan. has been achieved, further enhancing our capabilities, and I am pleased with the progress of the Bright Green team, which will result in the company being profitable and creating a significant future for our stakeholders. We are now establishing a healthcare leadership role in this emerging market and look forward to playing a key role. usa Not only around the world. “
“Our approach to raising the funding needed to execute our business plan is creative and relatively unique. We aim to use our procurements and through both federal and state programs as a bridge to more substantial long-term equity investments to provide companies with the investments they need with minimal dilution effects. ” Said seamus mccauley, Chief Operating Officer of Bright Green. “Through these debt and equity mechanisms, our goal is to raise sufficient capital to begin and complete construction of Phase 2 of the facility. new mexicoUpon completion of these efforts, Bright Green will be designated as one of the largest producers of cannabis and cannabis-related products for global research, pharmaceutical use and related exports. “
We also recently signed a Letter of Intent Alterora Biotech Co., Ltd. (OTC PINK: ABTI), EnglandFocused on the development of cannabinoid and cannabinoid-like drugs and products, we supply cannabinoid botanical raw materials (BRM) and active pharmaceutical ingredients (API) in preparation for suitable product release. As previously announced, the Company and Alterola.
“Bright Green is making great progress and, following the completion of Bright Green’s fundraising activities and the completion of its processing facility in New Mexico, we hope that Bright Green and Alterora will work together by 2023. It promises to be a very exciting year.” Tim RogersChairman Alterola board“Bright Green and Alterola share the vision of creating FDA and other regulatory agency approved medicines that provide therapeutic benefit to patients with certain conditions and produce high quality BRMs and APIs. is essential not only for combining our cannabinoid product development programs, but also for delivering innovative practices that may benefit the patients who receive our medicines.” We have the resources, technology, and state and federal approval to achieve revenues unseen in emerging markets.
About bright green
Bright Green is one of the few companies selected by the U.S. government to legally grow, manufacture and sell cannabis and cannabis-related products for research, pharmaceutical use and related export under federal and state law. It’s one.Conditional approval under previously agreed terms from U.S. Drug Enforcement Administration It gives us the opportunity to advance our vision of improving quality of life through the opportunities offered by cannabis-derived therapies. For more information, please visit www.brightgreen.us.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Management’s expectations, estimates, forecasts, forecasts and beliefs and assumptions at the time. “expect”, “predict”, “should”, “believe”, “hope”, “target”, “plan”, “goal”, “estimate”, “likely” , “predict,” “could,” and other words “would,” “may,” “could,” “intend,” “should,” and Variations, or negative forms of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties. Many of them involve factors and circumstances beyond our control. Our actual results may differ materially from those stated or implied by the forward-looking statements due to a number of factors. This includes, but is not limited to, the risks detailed in our registration statement on Form S-1. Securities and Exchange Commission (“SEC”) March 29, 2022 declaration of effect May 13, 2022and in the Company’s quarterly report on Form 10-Q/A filed in the United States. SEC upon August 19, 2022and other documents that the Company may file from time to time SECThe forward-looking statements contained in this press release represent our views as of the date of this press release. We expect subsequent events and developments to change our views. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date after the date of this press release.For additional information regarding these and other factors that may affect our results of operations, please visit our SEC can be obtained by accessing of the SEC Website at www.sec.gov.
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2023 GlobeNewswire, Inc. Source Press release
