Dear BGXX Shareholders,
I’m writing to you today to share an update on several developments for
I’ll begin with an update on the state of our groundbreaking EB-5 investment program in partnership with
To capitalize on this momentum, the team at ACPG just completed the first successful event on the 26th of May. This kicks off a series of events hosted by ACPG and featuring the Company, and the Company’s EB-5 program. With more than 100 potential investors in attendance at the first event, we are optimistic about the immense interest we’re experiencing, particularly as we look forward to future events in
With our EB-5 program gaining traction, we are moving full steam ahead with our prominent initiative to accelerate our commercialization of Schedule I and Schedule II controlled substances in the
Schedule I | Schedule II |
Ibogaine | Oxycodone |
Marijuana Extract | Morphine |
Marijuana | Morphine Methylbromide |
Tetrahydrocannabinols | Morphine Methylsulfonate |
Mescaline | Morphine N Oxide |
Peyote | Thebaine |
Psilocybin | Opium, Raw |
Psilocyn | Opium Extracts |
Opium Fluid Extracts | |
Opium (Tincture) | |
Opium (Powder) | |
Opium, Granulated | |
Opium Poppy, | |
Poppy Straw Concentrate |
If these quotas and our registration application are approved, we aim to handle 70% of all Marijuana, Marijuana extract, and Tetrahydrocannabinols production within the DEA’s program. We also aim to handle 70% of Mescaline (psychedelic plants) production and 50% of Psilocybin and Psilocyn production taking place within the DEA’s program.
To support this planned growth, we are working closely with the team at CEADL (Controlled Environment Agricultural Design) to establish all of the necessary upgrades for our existing facility, permits, and engineering for our Phase II facility in
As things have progressed quickly in our collaboration with CEADL, I want to share an exciting internal pivot that Bright Green has recently undergone. After exploring several potential opportunities for acquisition and partnership, we’ve decided the best path for Bright Green is the establishment of our own in-house
While our Schedule I and Schedule II applications and commercialization remain a focal point, I would like to comment on the recent announcement by the DEA of their initiative to reclassify Cannabis as a Schedule III substance. There have been misconceptions surrounding this rescheduling, so I want to be very clear that we see this as a beneficial opportunity for Bright Green, the cannabis industry, and the world as a whole. We are optimistic that this reclassification will support reducing stigmas and encouraging healthy business flow in the cannabis industry.
As far as what the rescheduling of cannabis means for Bright Green’s business and operations, we expect an increased demand in cannabis as an active ingredient. We believe this will make us the go-to resource best equipped to meet that demand. We anticipate that by 2025 Bright Green will carry 70% of the DEA’s cannabis quota here in the United States—establishing us as the largest producer of DEA cannabis in the country; if our fundraising, construction and approvals go as planned.
In addition, the continued upside for operators will go well beyond the tax benefits. This reclassification serves as an acknowledgement of state-based medical programs, and we continue to be an advocate for their growth.
Overall, I hope your takeaway from this letter matches my continuous optimism for Bright Green’s forward progress. We are working tirelessly behind the scenes to continue the realization of our established goal: pioneering the “Drugs Made in America” movement to create a reliable domestic API supply chain, and reducing our dependence on foreign drug imports for the betterment of
We look forward to the future together.
With utmost respect,
CEO,
www.brightgreen.us
Groovy@brightgreen.us
ABOUT
Bright Green is one of the very few companies selected by the
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, including but not limited to, the inability of the Company to raise funds under the Company’s EB-5 program, receipt of approvals related to our regional center, completion of all required EB-5 submissions by proposed EB-5 participants, receipt of funds by EB-5 participants, outcomes related to the Company’s relationships with ACPG and CEADL, and receipt of necessary Schedule I and II approvals from the DEA. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in the Company’s most recent Annual Report on Form 10-K, and subsequent Quarterly Reports on Form 10-Q, as each may be amended and supplemented from time to time, as well as other documents that may be filed by the Company from time to time with the
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ir@brightgreen.us
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