Bright Green welcomes the reforms introduced by President Biden on October 6, 2022
Bright Green stands prepared to interact within the administrative course of to assessment how marijuana is scheduled below federal regulation
GRANTS, N.M., Oct. 07, 2022 (GLOBE NEWSWIRE) — Bright Green Corporation (NASDAQ: BGXX) (“Bright Green” or “the Company”), one of many only a few firms chosen by the U.S. authorities to develop, manufacture, and promote, legally below federal and state legal guidelines, hashish and cannabis-related merchandise for analysis, pharmaceutical functions and affiliated export, at present welcomed President Biden’s October 6, 2022 assertion on marijuana reform.
“Bright Green applauds the White House’s announcement on the commencement of the administrative review of how cannabis is scheduled under U.S. federal law,” mentioned Terry Rafih, Chief Executive Officer and Executive Chairman of the Board of Bright Green. “This news encourages us to continue our work on our world-class agricultural complex in Grants, New Mexico, where we expect to be operational in the fourth quarter following a final site inspection by the U.S. Drug Enforcement Administration. Through our partnership with Alterola Biotech, Inc., we aim to be one of the very first companies selected by the U.S. government to grow, manufacture, and sell, legally under federal and state laws, cannabis and cannabis-related products for research; pharmaceutical development and applications; and affiliated export.”
“Today marks a potential significant development for the scheduling of cannabis, cannabis-based and cannabinoid medicines in the U.S.” mentioned Colin Stott, Chair of Bright Green’s Scientific Advisory Board. “Having been closely involved in the successful development of two regulatory-approved cannabis-based medicines in the last 20 years, I have seen the therapeutic benefits of cannabinoids. Our Scientific Advisory Board, alongside our legal counsel, will, if invited, contribute to the review process being undertaken by the Secretary of Health and Human Services and the Attorney General, offering our support as they consider the needs of the relevant scientific, preclinical and clinical researchers across the U.S. The potential re-scheduling of cannabis and cannabis extracts and derivatives will facilitate the needs of those involved in research and development and may ultimately expand access to important medicines for those patients most in need.”
About Bright Green
Bright Green is likely one of the only a few firms chosen by the US authorities to develop, manufacture, and promote, legally below federal and state legal guidelines, hashish and cannabis-related merchandise for analysis, pharmaceutical functions and affiliated export. Our conditional approval based mostly on already agreed phrases from the U.S. Drug Enforcement Administration provides us the chance to advance our imaginative and prescient of enhancing high quality of life via the alternatives introduced by cannabis-derived therapies. To be taught extra, go to www.brightgreen.us.
Cautionary Note Regarding Forward-Looking Statements:
This press launch accommodates “forward-looking statements” throughout the which means of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date they have been first issued and have been based mostly on present expectations, estimates, forecasts and projections in addition to the beliefs and assumptions of administration as of such date. Words akin to “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall” and variations of those phrases or the damaging of those phrases and comparable expressions are meant to establish these forward-looking statements. Forward-looking statements are topic to numerous dangers and uncertainties, a lot of which contain elements or circumstances which are past the Company’s management. The Company’s precise outcomes may differ materially from these said or implied in forward-looking statements attributable to numerous elements, together with however not restricted to, dangers detailed within the Company’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission (the “SEC”) on March 29, 2022 and declared efficient May 13, 2022, and within the Company’s Quarterly Report on Form 10-Q/A filed with the SEC on August 19, 2022, in addition to different paperwork that could be filed by the Company infrequently with the SEC. The forward-looking statements included on this press launch signify the Company’s views as of the date of this press launch. The Company anticipates that subsequent occasions and developments will trigger its views to alter. The Company undertakes no intention or obligation to replace or revise any forward-looking statements, whether or not on account of new info, future occasions or in any other case. These forward-looking statements shouldn’t be relied upon as representing the Company’s views as of any date subsequent to the date of this press launch. Additional info concerning these and different elements that might have an effect on the Company’s outcomes is included within the Company’s SEC filings, which can be obtained by visiting the SEC’s web site at www.sec.gov.
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