Bright Green Corporation Announces the completion of its restructuring plan, withdraws from the Cannabis business and sets course on the production of all DEA Scheduled Controlled Substances
Bright Green (OTC: BGXX) has announced a major strategic shift, withdrawing from the cannabis business to focus on the production of DEA Scheduled Controlled Substances. The company's restructuring plan includes a Restructuring Security Agreement (RSA) that will provide new equity to pay all creditors in full, with existing shareholders retaining their interests without dilution.
Under new CEO and Chairman Lynn Stockwell's leadership, BGXX plans to become a pioneer in producing legal controlled substances for medical purposes and establishing a reliable API supply chain in the US. The company aims to implement a $3.5 billion investment through owner/operator operations to build DEA and FDA-compliant mega farms.
The company's revenue strategy focuses on two streams: contracts for controlled substance production and the EB-5 program, which could generate capital through $800,000 investments from qualified applicants seeking US green cards. Gurvinder Singh will rejoin as General Manager to oversee the EB-5 program through Bright Green Regional Center
Bright Green (OTC: BGXX) ha annunciato un importante cambiamento strategico, ritirandosi dal settore della cannabis per concentrarsi sulla produzione di sostanze controllate programmate dalla DEA. Il piano di ristrutturazione dell'azienda include un Accordo di Sicurezza per la Ristrutturazione (RSA) che fornirà nuovo capitale per pagare tutti i creditori per intero, con gli azionisti esistenti che manterranno i loro interessi senza diluizione.
Sotto la guida del nuovo CEO e Presidente Lynn Stockwell, BGXX prevede di diventare un pioniere nella produzione di sostanze controllate legali per scopi medici e di stabilire una catena di approvvigionamento API affidabile negli Stati Uniti. L'azienda mira a implementare un investimento di 3,5 miliardi di dollari attraverso operazioni di proprietà/gestione per costruire mega fattorie conformi alla DEA e alla FDA.
La strategia di ricavi dell'azienda si concentra su due flussi: contratti per la produzione di sostanze controllate e il programma EB-5, che potrebbe generare capitale attraverso investimenti di 800.000 dollari da parte di richiedenti qualificati in cerca di green card statunitensi. Gurvinder Singh tornerà come Direttore Generale per supervisionare il programma EB-5 attraverso il Bright Green Regional Center.
Bright Green (OTC: BGXX) ha anunciado un importante cambio estratégico, retirándose del negocio del cannabis para centrarse en la producción de sustancias controladas programadas por la DEA. El plan de reestructuración de la empresa incluye un Acuerdo de Seguridad de Reestructuración (RSA) que proporcionará nuevo capital para pagar a todos los acreedores en su totalidad, con los accionistas existentes manteniendo sus intereses sin dilución.
Bajo el liderazgo del nuevo CEO y Presidente Lynn Stockwell, BGXX planea convertirse en un pionero en la producción de sustancias controladas legales para fines médicos y establecer una cadena de suministro de API confiable en los EE. UU. La empresa tiene como objetivo implementar una inversión de 3.5 mil millones de dólares a través de operaciones de propietario/operador para construir mega granjas que cumplan con la DEA y la FDA.
La estrategia de ingresos de la empresa se centra en dos flujos: contratos para la producción de sustancias controladas y el programa EB-5, que podría generar capital a través de inversiones de 800,000 dólares de solicitantes calificados que buscan tarjetas verdes de EE. UU. Gurvinder Singh volverá como Gerente General para supervisar el programa EB-5 a través del Bright Green Regional Center.
브라이트 그린 (OTC: BGXX)는 대마초 사업에서 철수하고 DEA에서 규제하는 통제 물질 생산에 집중하기 위한 주요 전략적 전환을 발표했습니다. 회사의 구조 조정 계획에는 모든 채권자에게 전액 지급하기 위한 새로운 자본을 제공하는 구조 조정 보안 계약(RSA)이 포함되어 있으며, 기존 주주들은 희석 없이 그들의 지분을 유지하게 됩니다.
신임 CEO 겸 회장인 린 스톡웰의 지도 아래, BGXX는 의료 목적을 위한 합법적인 통제 물질 생산의 선구자가 되고 미국 내 신뢰할 수 있는 API 공급망을 구축할 계획입니다. 이 회사는 DEA 및 FDA 기준에 맞는 메가 농장을 건설하기 위해 소유자/운영자 운영을 통해 35억 달러의 투자를 시행하는 것을 목표로 하고 있습니다.
회사의 수익 전략은 통제 물질 생산 계약과 EB-5 프로그램의 두 가지 흐름에 집중하고 있으며, EB-5 프로그램은 미국 영주권을 원하는 자격 있는 신청자로부터 80만 달러의 투자를 통해 자본을 생성할 수 있습니다. 구르빈더 싱은 브라이트 그린 지역 센터를 통해 EB-5 프로그램을 감독하기 위해 총괄 매니저로 재합류할 것입니다.
Bright Green (OTC: BGXX) a annoncé un changement stratégique majeur, se retirant du secteur du cannabis pour se concentrer sur la production de substances contrôlées programmées par la DEA. Le plan de restructuration de l'entreprise comprend un Accord de Sécurité de Restructuration (RSA) qui fournira de nouveaux capitaux pour payer tous les créanciers en totalité, les actionnaires existants conservant leurs intérêts sans dilution.
Sous la direction du nouveau PDG et Président Lynn Stockwell, BGXX prévoit de devenir un pionnier dans la production de substances contrôlées légales à des fins médicales et d'établir une chaîne d'approvisionnement API fiable aux États-Unis. L'entreprise vise à mettre en œuvre un investissement de 3,5 milliards de dollars par le biais d'opérations de propriétaire/exploitant pour construire des méga-fermes conformes à la DEA et à la FDA.
La stratégie de revenus de l'entreprise se concentre sur deux sources : des contrats pour la production de substances contrôlées et le programme EB-5, qui pourrait générer des capitaux grâce à des investissements de 800 000 dollars de la part de demandeurs qualifiés cherchant à obtenir des cartes vertes américaines. Gurvinder Singh rejoindra à nouveau le poste de Directeur Général pour superviser le programme EB-5 à travers le Bright Green Regional Center.
Bright Green (OTC: BGXX) hat eine wesentliche strategische Neuausrichtung angekündigt und zieht sich aus dem Cannabisgeschäft zurück, um sich auf die Produktion von von der DEA regulierten kontrollierten Substanzen zu konzentrieren. Der Umstrukturierungsplan des Unternehmens umfasst eine Umstrukturierungs-Sicherheitsvereinbarung (RSA), die neues Eigenkapital bereitstellt, um alle Gläubiger vollständig zu bezahlen, wobei die bestehenden Aktionäre ihre Interessen ohne Verwässerung behalten.
Unter der Leitung des neuen CEO und Vorsitzenden Lynn Stockwell plant BGXX, ein Pionier in der Herstellung von legalen kontrollierten Substanzen für medizinische Zwecke zu werden und eine zuverlässige API-Lieferkette in den USA aufzubauen. Das Unternehmen hat das Ziel, eine Investition von 3,5 Milliarden Dollar durch Eigentümer-/Betriebsmodelle zu implementieren, um DEA- und FDA-konforme Mega-Farmen zu errichten.
Die Umsatzstrategie des Unternehmens konzentriert sich auf zwei Einnahmequellen: Verträge zur Produktion kontrollierter Substanzen und das EB-5-Programm, das Kapital durch 800.000 Dollar Investitionen von qualifizierten Antragstellern, die US-Green Cards suchen, generieren könnte. Gurvinder Singh wird als Geschäftsführer zurückkehren, um das EB-5-Programm über das Bright Green Regional Center zu überwachen.
- New equity funding through RSA to pay all creditors in full
- No shareholder dilution in restructuring
- $3.5 billion planned investment for DEA/FDA-compliant facilities
- Potential revenue from controlled substances market worth hundreds of billions
- Additional revenue stream through EB-5 program ($800,000 per qualified applicant)
- Complete withdrawal from cannabis business
- Uncertainty in current business model transition
- Heavy reliance on future federal support and regulations
- Significant capital requirements for planned facilities
FORT LAUDERDALE, FLORIDA, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Bright Green Corporation (OTC: BGXX) (“Bright Green” or the “Company”) announced that on February 24, 2025, on behalf of the Company, Lynn Stockwell has asked the court to approve the “RSA” Restructuring Security Agreement. The highlights of the RSA will provide new equity for the company to pay all creditors with approved claims in full, in addition the Company equity shareholders will retain their interests in the Company and are unimpaired with no dilution.
The Company in its restructuring efforts has entered into an agreement with the DEA to immediately withdraw all Cannabis related renewal applications. This agreement will allow for reinstatement once the Company is satisfied that there is commercial value, and the federal government clarifies a path that will stabilize operations for medical research and possible drug development.
Lynn Stockwell, the new Chief Executive Officer and Chairman of the Board of Directors of the Company also sponsors and manages other public corporations that are building a financial war chest to be used for acquisitions of revenue generating, well managed corporations for the platform of onshoring controlled substance production, API and manufacturing back to the U.S.
Stockwell said, “the Company will not canvas equity and then jeopardize shareholder value by the uncertainty of the United States Cannabis industry, currently this is not a business where normal banking is prohibited. I have reset the course for Bright Green to become the first mover in the production of legal Controlled Substances for medical purpose establishing a reliable API supply chain”
These legal controlled substances have never been produced commercially in the United States. The critical supply is imported from countries where diversion and quality controls are not a priority.
Lynn Stockwell continues, “this new federal administration is actively positioning Bright Green to participate in the production, drug manufacturing and prescription drug delivery back to the United States. This creates an opportunity for Bright Green where the drugs purchased in the United States has a total addressable market of hundreds of billions of dollars. With likely tariffs protecting this new American industry and supply contracts the company will move forward to implement its planned owner/operator operations for a
Gurvinder Singh will rejoin the Company as General Manager responsible for the EB-5 program administered by Bright Green Regional Center LLC and help direct the Company forward.
The Company’s planned revenue is from contracts for production of controlled substances and EB-5 investment, the
The Company believes that the timing for both revenue streams will create this opportunity and Bright Green Corporation will reset in a very positive way immediately.
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. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management as of such date. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall” and variations of these terms or the negative 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 that are beyond the Company’s control. Such forward looking statements include, but are not limited to, the ability of the Company to implement the Plan and raise funds under the Company’s EB-5 program, the impact that new officers, directors and employees may have on the Company and the Company’s business and results of operations. The Company’s actual results could differ materially from those stated or implied
Source:
Bright Green Corporation
401 E Las Olas Blvd #1400
Fort Lauderdale, Florida 33301
(833) 658-1799
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