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Bright Green Corp
4 own
1 watching
Current Price
$0.95
$0.01
(1.21%)
1 Week Returns
3 Months Returns
1 Year Returns
Get Started with as little as $1.00
Market Capitalization
164.88M
52-Week High
3.7324
52-Week Low
0.35
Average Volume
0.41M
Dividend Yield
--
P/E Ratio
--
Market Capitalization164.88M52-Week High3.732452-Week Low0.35Average Volume0.41MDividend Yield--P/E Ratio--What does the Bright Green Corp do?
Bright Green’s mission is to be the premier federally-authorized provider of cannabis, cannabis-related products, and other legal medicinal plant-based therapies, manufactured in exact formulations for research and pharmaceutical applications, as well as being an active ingredient to consumer-based solutions. The Company, through legal partnerships with state and federal agencies, can operate at scale in a manner unprecedented in this emerging market, addressing compliance, security and integrity. Our vision is to improve the quality of life across a broad spectrum of demographics through the opportunities presented by medicinal applications of plant-based therapies, particularly cannabis and cannabis-derived products. We are a first-mover in the U.S. federally-licensed cannabis space. We are one of a few companies who have received conditional approval based on already agreed terms from the U.S. Drug Enforcement Administration (the “DEA”) to produce federally legal cannabis, and have entered into a Memorandum of Agreement (“MOA”) with the DEA which permits us to proceed towards a Federal Registration for the Bulk Manufacturing of cannabis under DEA Document Control Number W20078135E. Unlike state-licensed cannabis companies that engage in commercial sales to consumers, and whose businesses are legal under state law but not federal law, we will operate legally under all applicable laws and be authorized by the federal government to sell cannabis commercially for research and manufacturing purposes, export cannabis for international cannabis research purposes, and sell cannabis to DEA-registered pharmaceutical companies for the production of medical cannabis products and preparations, subject to final registration and licensure with the DEA as set forth in the MOA. We plan to focus on the development of cannabis strains and sales of products with high contents of CBN (cannabinol) and CBG (cannabigerol). If and when permitted under federal law, we also plan to sell cannabis-derived CBN and CBG to consumers. Because cannabis is a Schedule I Controlled Substance in the U.S., it has been historically under-researched. Though the majority of Americans live in states where cannabis is now legal in some form, the full potential of the cannabis plant for medicinal use remains understudied due to limited access to federally-approved cannabis. The DEA recently issued a call for more cannabis research supply based on the increased demand for cannabis research in the U.S. As described herein, we received conditional approval from the DEA based on the agreed-upon terms set forth in the MOA. Final approval from the DEA is conditioned on, among other things, completed construction of manufacturing and production facilities and systems. In May 2021, BGC entered into the MOA with the DEA to grow cannabis for federally sanctioned research. Final registration is anticipated in June 2022, and is contingent upon completion of construction and a successful inspection by the DEA of BGC’s facilities. Additionally, BGC must comply with the terms agreed in the MOA which include: submitting an Individual Procurement Quota on or before April 1 of each year utilizing DEA Form 250; submitting an Individual Manufacturing Quota on or before May 1 of each year utilizing DEA Form 189; collecting samples of cannabis and distributing them to DEA-registered analytical laboratories for chemical analysis during the pendency of cultivation and prior to the DEA’s taking possession of the cannabis grown; providing the DEA with 15-day advance written notification, via email, of its intent to harvest cannabis; following the DEA’s packaging, labeling, storage and transportation requirements; distributing DEA’s stocks of cannabis to buyers who entered into bona fide supply agreements with the Company; providing the DEA with 15-day advance written notification of its intent to distribute cannabis; invoicing the DEA for harvested cannabis that it intends to sell to the DEA. Following final approval, we will be permitted to cultivate and manufacture cannabis, supply cannabis researchers in the U.S. and globally, and produce cannabis for use in pharmaceutical production of prescription medicines within the U.S. There is no guarantee that we will receive approval from the DEA. Our activities will be legal under federal law, which currently sets BGC apart from all U.S. cannabis companies who are selling products to consumers and patients under state programs. We have assembled an experienced team of medical professionals and researchers, international horticultural growers and experts, and construction and cannabis production professionals, which we believe positions us to become a future industry leader in the production of cannabis. The business address of each Registered Stockholder is c/o Bright Green Corporation, 401 East Las Olas Blvd., Suite 1400, Ft. Lauderdale, FL.
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News & Events about Bright Green Corp.
Globe Newswire
1month ago
Bright Green, the first publicly traded company in the U.S. to be federally authorized to grow, manufacture and sell cannabis and cannabis-related products for research, pharmaceutical and medical applications, can qualify for the EB-5 program and plans to raise $500 million in new capital The ...
Globe Newswire
1month ago
Bright Green is now the first publicly traded company, and the largest, in the U.S. to be federally authorized to grow, manufacture and sell cannabis and cannabis-related products for research, pharmaceutical applications and affiliated import and export Company to commence cultivation preparation ...
Globe Newswire
2 months ago
NEW YORK, March 17, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against FTX Tokens (CCC: FTT), G-III Apparel Group, Ltd. (NASDAQ: GIII), Bright Green Corporation (NASDAQ: BGXX), and Consensus Cloud ...
Business Wire
2 months ago
Law Offices of Howard G. Smith announces an investigation on behalf of Bright Green Corporation (Bright Green or the Company) (NASDAQ: BGXX) investors concerning the Companys possible violations of federal securities laws. On June 2, 2022, Green Market Report published a report alleging that Bright...
Business Wire
2 months ago
Glancy Prongay & Murray LLP (GPM), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Bright Green Corporation (Bright Green or the Company) (NASDAQ: BGXX) investors concerning the Companys possible violations of the federal...
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Current Price
$0.95
$0.01
(1.21%)
1 Week Returns
3 Months Returns
1 Year Returns
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