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Bright Green welcomes the reforms announced by President Biden on October 6, 2022
Bright Green is ready to engage in the administrative process to review how marijuana is scheduled under federal law
GRANTS, NM, Oct. 07, 2022 (GLOBE NEWSWIRE) — Bright Green Corporation (NASDAQ: BGXX) (“Bright Green” or “the Company”), one of the very few companies selected by the U.S. government to develop, manufacture, and sell, legally under federal and state law, cannabis and cannabis-related products for research, pharmaceutical applications, and affiliated export, today welcomed President Biden’s October 6, 2022 statement on marijuana reform.
“Bright Green applauds the White House’s announcement about the start of an administrative review of how cannabis is scheduled under U.S. federal law,” said Terry Rafih, CEO and Executive Chairman of the Board of administration 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 United States 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. cannabis for research; pharmaceutical development and applications; and affiliated export.
“Today marks a potentially significant development for cannabis, cannabis-based medicine and cannabinoid programming in the United States,” said Colin Stott, Chairman of Bright Green’s Scientific Advisory Board. “Having been closely involved in the successful development of two cannabis-based drugs approved by regulatory authorities over the past 20 years, I have seen the therapeutic benefits of cannabinoids. Our Scientific Advisory Board, alongside our Legal Counsel, will contribute, if invited, to the review process undertaken by the Secretary of Health and Human Services and the Attorney General, offering our support as they consider the needs of scientific, preclinical and clinical investigators across The potential rescheduling of cannabis and cannabis extracts and derivatives will facilitate the needs of those involved in research and development and could ultimately expand access to important medicines for patients who need them most.
About Bright GreenBright Green is one of the few 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 applications, and affiliated export. . Our conditional approval based on previously agreed upon conditions from the United States Drug Enforcement Administration gives us the opportunity to advance our vision of improving quality of life through the opportunities afforded by cannabis-derived therapies. To learn more, visit www.brightgreen.us.
Caution 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. These forward-looking statements are made as of the date first issued and are based on expectations, estimates, forecasts and projections as well as management’s beliefs and assumptions as of that date. Words such as “expect”, “anticipate”, “should”, “believe”, “hope”, “target”, “project”, “goals”, “estimate”, “potential”, “predict” , “may”, “” “will”, “could”, “could”, “intend”, “shall” and variations of these terms or the negative form 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 which involve factors or circumstances beyond the Company’s control. The Company’s actual results could differ materially from those indicated or under -heard in forward-looking statements due to a number of factors, including, but not limited to, the risks detailed in the Company’s registration statement on Form S-1 filed with the Securities and Exchange Commission (the “SEC”) on March 29, 2022 and declared effective on May 13, 2022, and in the Company’s Quarterly Report on Form 10-Q/A filed with the SEC on August 19, 2022, and such other documents as may be filed by the Company from time to time with the SEC. The forward-looking statements included in this press release represent the views of the Company as of the date of this press release. The Company expects subsequent events and developments to cause its views to evolve. The Company disclaims 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 taken to represent the views of the Company as of any date subsequent to the date of this press release. Additional information regarding these and other factors that could affect the Company’s results is included in the Company’s filings with the SEC, which may be obtained by visiting the SEC’s website at www. sec.gov.
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Source: Bright Green Corporation