The team at Bright Green Corporation is experienced and vetted in their areas of expertise. it cultivates hybrids with zero risk of cross-contamination. Consult a good lawyer and add NASDAQ to the case. While he was employed, Fikany was working on a deal for Bright Green to develop a cultivation facility on Indian land with the Acoma Pueblo tribe. The business made history when it entered the market to represent the cannabis industry on the stock exchange. Recent cannabis research shows that the primary use of the plant in the U.S. remains overwhelmingly recreational, to the tune of 89.5% versus 10.5% solely for medical purposes. Bright Green Corporation is a privately-owned company consisting of an executive team experienced in technology, greenhouse operation, manufacturing, marketing, agriculture, body health & wellness and medical science. Some of the key advantages of Bright Green are listed below: Finally, Bright Green is constructing a state-of-the-art $300 million complex in Grants, New Mexico, that per its website will become the nations largest federally authorized and most advanced manufacturing and research facilities for plant-based therapies, including cannabis.. It has the blessings of the DEA, through a memorandum of agreement signed by both parties. Recent examples of direct listings include Coinbase (COIN) and Spotify (SPOT).. At some point during these years, it seems the Sunnyland greenhouses were transferred to Lynn Stockwell who then transferred the property to Bright Green. First, Bright Greens federal pathway is enormous. Bright Green Corporations ISS Governance QualityScore as of N/A is N/A. Subscribe to learn about the latest medical cannabis research, keep current on new resources and stay up on other news related to plant-based therapies. Additional information regarding these and other factors that could affect the Companys results is included in the Companys SEC filings, which may be obtained by visiting the SEC's website at www.sec.gov. He was also to get 2.5 million shares. Its a perfect marriage to create a world-class enterprise. Bright Greens operation will expand to millions of square feet, 15. Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox. The company was incorporated in 2019 and is based in Fort Lauderdale, Florida. These efforts, when completed, will designate Bright Green as one of the largest producers of cannabis and cannabis-related products for research, pharmaceutical applications and affiliated export in the world.. Bright Green Former CEO Claims Valuation Fraud, The back story of the cannabis concept stock, In an IPO situation, founders, employees, and other early-stage investors are typically restricted from selling their stock right away. Ed is a strategic planner who lends his expertise as an advisor to Bright Green Corporation and serves on its board of directors. The Bright Green Corporation serves as an agricultural model, 9. Bright Green recently began trading on the NASDAQ (NDAQ) as a direct listing, not as an Initial Public Offering (IPO). The horticulturists start with cultivars that were carefully selected for essential characteristics, cross-bred, and generated to exhibit desired characteristics. The Company anticipates that subsequent events and developments will cause its views to change. However, nothing is ever clear cut regarding the cannabis industry. That business was called Sunnyland Farms based in Grants, New Mexico where Bright Green Cannabis is based. For instance, the AdvisorShares Pure US Cannabis ETF (NYSEARCA: MSOS) is down a staggering 65% in the trailing year (May 18, 2021 to May 16, 2022). The facility in Grants, New Mexico is supposed to be A two-acre Fast Start University Greenhouse to begin housing our cannabis research, development, cultivation, and manufacturing operations. Bright Green also stated in its filing that its existing 22-acre Venlo greenhouse is currently under renovation to be operational in May 2022 and provide the initial supply of marijuana and marijuana extracts. Bright Green Provides Update on Progress as It Prepares for Multiple Activities in 2023 GRANTS, N.M., Jan. 17, 2023 (GLOBE NEWSWIRE) - Bright Green Corporation (NASDAQ: BGXX) ("Bright Green . In an IPO situation, founders, employees, and other early-stage investors are typically restricted from selling their stock right away. Bright Green states in its prospectus, "In May 2021, we entered into the MOA with the DEA, which outlines the terms of the DEA's conditional approval of Bright Green to proceed through the DEA's registration process, as described above. Kurt Riley, surrounded by members of Tribal Council and Acoma Business Enterprises, signing a business agreement with Bright Green Group on Dec. 16, 2017. Sector(s):HealthcareIndustry:Drug ManufacturersSpecialty & GenericFull Time Employees: Bright Green Corporation focuses on the propagation, cultivation, and manufacturing of cannabis products. 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. Bright Green Corporation has applied to be registered as an importer of basic class(es) of controlled substance(s). Most companies clean up lawsuits before going public so that investors wont see the dirty laundry. The direct listing raises NO MONEY for the company itself. They did a direct listing instead of an actual IPO, which means its not even underwritten and theres no lockup period and insiders were allowed to cash out immediately and dump the stock onto retail investors. It is essential for our combined cannabinoid product development programs as well as for delivering potentially game changing practices to benefit the patients who will receive our medicines. The combined group has the resources, technology and state and federal approvals to now achieve revenue unpresented in this emerging market. They have no conscience when it comes to stealing other peoples money from friends and/or relatives. Left to right: Dean Valore, Ed Robinson, Terry Rafih, Lynn Stockwell, John Stockwell, Robert Arnone. $84M. The company is selective about the workers in charge of its live plant cultivation because the strains of the cannabis plants it develops must meet rigid standards of perfection. Company owes more that $400,000 in unpaid principal and interest. As well, especially during these unusual circumstances, Wall Street can be volatile. It has these things going for it, but Bright Green faces an uncertain future, as do all companies involved in the cannabis industry. 251 LITTLE FALLS DRIVE; Wilmington; 19808; DE; USA; Governing Legislation. I can unsubscribe or change my email preferences atanytime. Bright Green Corporation went public via a direct listing on the NASDAQ in May 2022. Full-powered cannabis itself remains very much illegal federally. A decile score of 1 indicates lower governance risk, while a 10 indicates higher governance risk. Bright Green acquired 25% of Alterola's issued and outstanding common stock. Company's stock value dipped to $0.4802 during the trading on the day. Robert Arnone is a director. Even worse, the Central New Mexico Electric Cooperative (CNMEC) had shut off the electricity at the greenhouse. If you want to participate in Bright Greens growth, youll need to know how to buy stocks. GRANTS, N.M., Jan. 17, 2023 (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 grow, manufacture, and sell, legally under federal and state laws, cannabis and cannabis-related products for research, pharmaceutical applications and affiliated export . By utilizing traditional debt financing to secure interim working capital, and as a bridge to the more substantive and longer-term equity investments, through both Federal and State programs, Bright Green aims to deliver the required investment in the company with a minimally dilutive effect, said Seamus McAuley, Chief Operating Officer of Bright Green. One aspect that has long plagued the cannabis industry is legal vagaries and any company that can overcome this challenge may lever a massive advantage. The Bright Green Corporation sets the example of innovation in greenhouse growth through its optimization of plant growth. based in Grants, New Mexico where Bright Green Cannabis is based. Additionally, it is the fourth biggest IT, Read More 20 Things You Didnt Know About FoxconnContinue. $0.49. In that particular session, Stock kicked-off at the price, AEye Inc. (LIDR) is priced at $0.70 after the most recent trading session. Through legal partnerships with state and federal agencies, the company can operate at scale in a manner unprecedented in this emerging market, addressing compliance, security, and integrity. Stockwells wife Lynn Stockwell is a Director of the company and owns 44% of the voting shares or 69 million shares. Required fields are marked *. The Bright Green Corporation is conducting its business one hundred percent openly and above board. The stock current value is $0.45.Recently in News on November 14, 2022, Bright Green Announces . At the same time, institutional investors have not had the time to perform a price discovery process, meaning that you would not be working with an established benchmark to judge fair value. Meeting these goals will further enhance our capabilities throughout 2023 and 2024 as our capital needs are achieved. It stands the best chance of making the emergence of the cannabis industry into the public market a successful venture, but only time will tell. In this case, Bright Green plowed ahead. One tiny company stands to be the biggest beneficiary because lithium "faces a long-term supply shortage," according to Barron's. The research complex is located in Grants, New Mexico, although the headquarters for Bright Green is in Fort Lauderdale, Florida. Still, not everything about Bright Green is positively compelling. Bright Green has a six-member board of directors, 10. Logically, then, a DPOs valuation is tied directly to free market forces, which could offer a favorable outcome for the listing company. "This quarter, Bright Green reached . Bright Green Corporation is a New Mexico Foreign Profit Corporation filed on October 30, 2020. Typically in groundbreaking ceremonies, only top executives or board members take the stage. Theres two sides to every story but it doesnt look good. Currently, 35 states have issued mandates legalizing cannabis, which collectively offers a total addressable market of 3.6 million state-legal medical cannabis patients. The products are prized by researchers in pharmaceutical applications as they promote adherence to academic rigor and fewer variables to account for while generating meaningful research data. He expressed his fear that his reputation would be at risk for knowingly telling investors that Bright Green had a valuation that was incorrect. In that particular session, Stock kicked-off at the price of $0.40 while reaching the peak value of $0.472 and lowest value recorded on the day was $0.385. Bright Green Corporation. The pillar scores are Audit: N/A; Board: N/A; Shareholder Rights: N/A; Compensation: N/A. Bright Green Corporation (Nasdaq: BGXX ) First US marijuana plant-touching company to list on the This valuation figure is a key element in the complaint from the former CEO John Fikany. The Bright Green Corporation is still in the process of building its massive growing operation in New Mexico. The daily stock price performance of Bright Green Corp. (BGXX) from May 17, 2022 to July 11, 2022 (in U.S. dollars). LinkedIn confirms that he is an expert in consulting for the executive level of the wholesale and retail sector with a focus on operational proficiency. "With the cooperative spirit of Federal, State, and business we found in New Mexico, we will see New Mexico and Bright Green Corporation become leaders in this emerging field of medical research . After the quarter close, Bright Green and LDS Capital LLC, a related party, increased the line of credit by $10.0 million, from $5.0 million to $15.0 million. Bright Green Corp. offered 158.249 million shares in a direct listing - with a NASDAQ reference price of $8.00 per share - and the expectation that the stock will start trading on the NASDAQ on Tuesday, May 17, 2022. The pillar scores are Audit: N/A; Board: N/A; Shareholder Rights: N/A; Compensation: N/A. It intends to offer cannabis products, including cannabis flower, pre-rolls, concentrates, vape pens, capsules, tinctures, edibles, topicals, and other cannabis-related products The company was incorporated in 2019 and is based in Grants, New Mexico. 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