The expert team involved in the processes and leading the company forward have experience in various aspects of its operation, such as agriculture, marketing, manufacturing, greenhouse operation, body health and wellness, medical science, and technology. These properties became the Sunnyland Farms. Debra Borchardt June 2, 2022 19 min 6. State-of-the-Art 22-Acre Greenhouse Slated for Completion in August. What kind of propaganda is this? Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. She was at the groundbreaking ceremony for the $300 million planned research complex, even though the company has nowhere near that amount of money. 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. The company in May, 2021, entered into the memorandum of agreement with the DEA to grow . 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. Company remains on track to start cultivation by the end of the year. The methods help eliminate the potential for genetic drift and disease while preserving the consistency of the products. Bright Green could purchase more mature plants to speed up the process, but then the DEA would actually be buying someone elses plants. Recent examples of direct listings include Coinbase (COIN) and Spotify (SPOT).. After six months of work, Fikany had yet to be paid. 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. Bright Green recently began trading on the NASDAQ (NDAQ) as a direct listing, not as an Initial Public Offering (IPO). Requirements from NASDAQ about. Michelle Lujan Grisham and Bright Green Corp. announced Monday a $300 million investment in a state-of-the-art agricultural ecosystem on company-owned property in Grants, New Mexico, embracing the latest technology and automation . The Registered Agent on file for this company is Registered Agents Inc. and is located at 530-B Harkle Road Ste 100, Santa Fe, NM 87505. Our mission is to make a difference and improve lives. 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. Therefore, it might be better for a company like Bright Green to negotiate ahead of time with underwriters via a traditional IPO. The minimum target price for Bright Green analysts is $ None. Your email address will not be published. Bright Green Corporation employs experts in cultivation, 6. 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. In fact, the company only has net losses. All rights reserved. Bright Green Corporation Our Mission. If you judged it regarding the age of the operation it would still be in its infancy stage of development, but thats not the case for Bright Green. According to the NASDAQ website, Companies choosing a direct listing typically have had no immediate need for additional capital, have a large and diverse shareholder base and are a well-known brand with an easy-to-understand business model. You can read the article here and decide for yourself. 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. Pets and diseases are better controlled through the processes that maximize the efficiency of water used to produce high-quality crops under production security with strict guidelines and scrutinized processes. ET. Bright Green Corporation to build $300M high-tech cannabis manufacturing and research facility in New Mexico. When is the Bright Green IPO Date? But how it goes about the process is different. Extending health through cannabis, Bright Green is leading the way on plant-based therapies. The company has achieved an efficient automated production system for the production of superior quality cannabis products. The public can only buy the shares that are sold by the insiders. Bright Green Corporation began trading on the Nasdaq on May 17. 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. Therefore, established market analysts have not yet weighed in on Bright Greens potential and risk factors. Alterola & Bright Green have today entered into a LoI to supply the necessary BRM and APIs to further advance development of Alterola's pharmaceutical assets We thank the DEA for their support and their continuous visits to our state-of-the-art agricultural and schedule 1 manufacturing complex in Grants, said Terry Rafih, Chief Executive Officer and Chairman of the Board of Bright Green. He took over the role in 2019, although his LinkedIn profile only states he is a special advisor, he is on the company website as the CEO. Requirements from NASDAQ about direct listings state that in the NASDAQ Capital Market guidelines, The listing company must have a recent valuation from an independent third party indicating in excess of $10 million to $30 million in the aggregate market value of publicly held shares, depending on the financial standard met. One issue that arose during the process was the valuation of Bright Green. However, nothing is ever clear cut regarding the cannabis industry. The stock current value is $0.45.Recently in News on November 14, 2022, Bright Green Announces . However, a noteworthy positive is its balance sheet. Sector(s):HealthcareIndustry:Drug ManufacturersSpecialty & GenericFull Time Employees: Bright Green Corporation focuses on the propagation, cultivation, and manufacturing of cannabis products. It also provides an avenue for individuals who are trying to build, Read More 20 Companies Similar to FingerhutContinue, Phillipe De Chanville and Christian Raisson founded ManoMano in Paris in 2013. Crain Communications Inc 2017 document.write(new Date().getFullYear());. Bright Green (BGXX 4.96%), was quite the outlier on . Moreover, the reputation for marijuana stocks as an investment class is poor. Bright Green Provides Operational Update on its Agricultural Complex in Grants, New Mexico. The Bright Green Corporation shares its vision for creating a healthier planet inhabited by healthy people. GRANTS, N.M., May 16, 2022 (GLOBE NEWSWIRE) -- Bright Green Corporation ("Bright Green"), one of the very few companies selected by the U.S. government to grow . Many of the scams are basically pyramid scams. Learn how your comment data is processed. Share This Article. Bright Green Corporation is a Fort Lauderdale, Florida-based operation, 2. USD, Bright Green Provides Update on Progress as It Prepares for Multiple Activities in 2023, Bright Green Announces Third Quarter 2022 Financial Update and Milestone Progress, Bright Green Strengthens its Scientific Advisory Board with the Appointment of Five Additional Biotech and Pharmaceutical Leaders, Bright Green Issues Statement on President Biden's Announced Historic Marijuana Reform, Bright Green Announces Close of Transaction with Alterola Biotech, Bright Green Provides Progress Updateon its Agricultural Complex in Grants, New Mexico, Bright Green Announces Closing of $10.0 Million Private Placement, Bright Green Announces Pricing of $10.0 Million Private Placement, Bright Green Signs Letter of Intent with Alterola Biotech for Strategic Partnership and Acquisition, Bright Green Announces Second Quarter 2022 Financial Update and Milestone Progress, Bright Green, Staffing 360 Solutions And 3 Stocks To Watch Heading Into Tuesday, 6 Stocks Halted In Thursday's Session: Here's Why. 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. (Rule 5505). In addition to the valuations, companies also have pre-tax income requirements which Bright Green doesnt meet. Find the latest Bright Green Corporation (BGXX) stock quote, history, news and other vital information to help you with your stock trading and investing. The organization broke ground on a cannabis research complex valued at an estimated $300 million in October of 2021. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Bright Green Corporation. Bright Green Corp IPO'd on May 17, 2022, selling more than 150 million shares at a value of $15.99 per share and closed that day at $25.25 with a valuation of . With inflation reaching ridiculous levels and law enforcement inundated with more pressing concerns, the temptation of illicitly sourced (and cheaper) cannabis may be too much for many users to ignore. The future is uncertain for many industries, and the cannabis category is no exception. Other financial media also jumped in and never looked beyond the companys press release and helped tout the idea of a cannabis company trading on the NASDAQ. The Bright Green filing says that Capussi is suing for 108,000 shares of the company. He is no longer listed as having a role in the company. It doesnt exist. It doesnt matter which supermarket you go to or where you are, Read More 20 Things You Didnt Know about Project44Continue, Most people are well aware of Fingerhut. He expressed his fear that his reputation would be at risk for knowingly telling investors that Bright Green had a valuation that was incorrect. Required fields are marked *. On further appeal, in 2013 the New Mexico Supreme Court reversed the Court of Appeals decision in part, increasing Stockwells award to about $7.4 million. It is currently valued at $0.50. Bright Green Announces Closing of $10.0 Million Private Placement. Without electricity, they couldnt pump water to fight the fire, and the Estancia greenhouse was destroyed. They believe that planting trees can help the health of the planet and improve the health of patients. Its still in the developmental stages of that part of its journey. Something is missing from that narrative. In the case of Bright Green, the company states that no director or executive officer has filed for bankruptcy. The back story of the cannabis concept stock Bright Green (NASDAQ: BGXX) involves a burned-down building, a years-long battle with the state of New Mexico, a bankruptcy case, and an angry former CEO who is accusing the company of fraud. Scores indicate decile rank relative to index or region. Stockwells wife Lynn Stockwell is a Director of the company and owns 44% of the voting shares or 69 million shares. Santa Fe, NM, May 24, 2021 (GLOBE NEWSWIRE) Rural New Mexico will soon be the home . As of July 11, the stock's price was $2.22 per share a 95% fall from that May 2022 high. Bright Green and Alterola share the vision of creating FDA and other regulatory-approved medicines which will deliver therapeutic benefits to patients for specific conditions and producing high quality BRM and APIs. Every company that he has been involved with has lost massive amounts of money or gone bankrupt. The enterprise maintains its commitment to engaging in sustainable manufacturing processes and giving back to the earth. The forward-looking statements included in this press release represent the Companys views as of the date of this press release. 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. The Companys 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 Companys Registration Statement on Form S-1 filed with the Securities and Exchange Commission (the SEC) on March 29, 2022 and declared effective May 13, 2022, and in the Companys Quarterly Report on Form 10-Q/A filed with the SEC on August 19, 2022, as well as other documents that may be filed by the Company from time to time with the SEC. 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 documents state that Stockwell approached Capussi and asked for assistance in starting a greenhouse business in New Mexico. That business was called. Bright Green Corporation focuses on the propagation, cultivation, and manufacturing of cannabis products. Designed and Developed by Black Rock Digital Agency. BRIGHT GREEN CANNABIS, INC. (Rule 5505). In addition to the valuations, companies also have pre-tax income requirements which Bright Green doesnt meet. Bright Green broke ground on its cannabis research complex in 2021, 11. 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. The idea is that investors should have adequate information in order to make a wise investment decision. The answer comes down to legality. Bright Green Corporation started its trading on May 17, 2022, on the Nasdaq stock exchange under the ticker symbol BGXX. In 2020, she lent the company $392,194 and has no fixed repayment term. Acoma Pueblo Gov. We have also been focused on the capital requirements to execute on the next phase of our facilities and the completion of our business plan. The pillar scores are Audit: N/A; Board: N/A; Shareholder Rights: N/A; Compensation: N/A. They were present for the event that would launch a premier plant-based research facility. Presently, Bright Green Corporation shares are logging -99.22% during the 52-week period from high price, and 29.66% higher than the lowest price point for the same timeframe. Michigan-based Fikany is an accomplished executive who was once Vice President, North America sales strategy for Oracle, Vice President at Microsoft, and Vice President at Quicken Loans. We have also been focused on the capital requirements to execute on the next phase of our facilities and the completion of our business plan. As a first mover in the federally licensed cannabis space, it has the opportunity to strike while the iron is hot. Market Cap. January 17, 2023 - 8:30 am. Its massive complex is powered with automation technology that is state of the art. Here's How It Did. Although cannabis is not a legal industry in the eyes of the feds, the DEA granted conditional approval through a memorandum of understanding which makes Bright Green a legitimate federally legal cannabis grower and medical purpose distributor under the terms of agreement for sales to universities and research institutes. Its engaged in a partnership with The Forest Fire Recovery project in Ruidoso, New Mexico, to plant trees that were lost in the McBride fire. Bright Green Corporation | 148 followers on LinkedIn. Kurt Riley, surrounded by members of Tribal Council and Acoma Business Enterprises, signing a business agreement with Bright Green Group on Dec. 16, 2017. A decile score of 1 indicates lower governance risk, while a 10 indicates higher governance risk. "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 . 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 . 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. Even worse, the Central New Mexico Electric Cooperative (CNMEC) had shut off the electricity at the greenhouse. Stockwell was responsible for hiring the advisors to determine the number, but Fikany said the valuation was misleading and aggressive. In 2017, John Stockwell was listed as the CEO of Bright Green according to, which stated the greenhouse would open in 2017. Should the legal process with the DEA move along as planned, Bright Green will command a significant advantage over other U.S. pure cannabis firms, which are limited to strict state-based jurisdictional limitations. 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, today provided an update on progress on the execution of its business plan and the developments ahead for 2023. The Companys 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 Companys Registration Statement on Form S-1 filed with the Securities and Exchange Commission (the SEC) on March 29, 2022 and declared effective May 13, 2022, and in the Companys Quarterly Report on Form 10-Q/A filed with the SEC on August 19, 2022, as well as other documents that may be filed by the Company from time to time with the SEC. In fact, the company only has net losses. In 2017, John Stockwell was listed as the CEO of Bright Green according to this Albuquerque story which stated the greenhouse would open in 2017. The deal had been in the works prior to Fikany coming on board but hadnt actually closed. With the $65.9 billion market estimate, sizable profits are possible. Therefore, it could theoretically expand the reach of its solutions to a greater magnitude than its competitors. He is no longer listed as having a role in the company. https://www.greenmarketreport.com/bright-green-former-ceo-claims-valuation-fraud/. However, his wife Lynn Stockwell is a Director of Bright Green and John Stockwell did file for bankruptcy in the state of New Mexico in 2015. 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.. There are currently several companies that have been approved by the DEA to sell cannabis to the Federal Government for research purposes, so the concept cannabis company actually does have existing companies for comparison in order to determine a true valuation. But this is just one of the opportunities we have researched in our free report. Robert Arnone is a director. Its a perfect marriage to create a world-class enterprise. 23. CNMEC gave up and paid this judgment amount. It operates a cost-effective system of indoor growing that produces higher yields and extended harvesting with its full-year cultivation. Today's Change (4.96%) $0.02. The employment contract reads, Robinson shall receive monthly payments in the amount of $6,750 with an aggregate of $344,250 in deferred compensation due and payable on or before December 15, 2022. Robinson got 5.6 million shares, while his wife Elaine Robinson received 605,000 shares. The business made history when it entered the market to represent the cannabis industry on the stock exchange. However, such products must contain less than 0.3% delta-9-tetrahydrocannabinol (THC), the hallmark psychoactive compound of marijuana. The Stockwells are well known for their scam business ventures in their hometown of Leamington, Ontario Canada. These forward-looking statements should not be relied upon as representing the Companys views as of any date subsequent to the date of this press release. Bright Green Corporation has applied to be registered as an importer of basic class(es) of controlled substance(s). The pillar scores are Audit: N/A; Board: N/A; Shareholder Rights: N/A; Compensation: N/A. 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. For the readers interested in the stock health of Bright Green Corporation (BGXX). The board of directors at Bright Green Corporation has six members. state that in the NASDAQ Capital Market guidelines, The listing company must have a recent valuation from an independent third party indicating in excess of $10 million to $30 million in the aggregate market value of publicly held shares, depending on the financial standard met. That business was called Sunnyland Farms based in Grants, New Mexico where Bright Green Cannabis is based. Per its S-1 disclosure, management anticipates that its firm will receive final registration regarding federally sanctioned marijuana research in June 2022. We provide our members natural alternatives in a professional and safe environment. Bright Green Corporation is a New Mexico Foreign Profit Corporation filed on October 30, 2020. Michelle Lujan Grisham and Bright Green Corp. announced Monday - a $300 million investment in a state-of-the-art agricultural ecosystem on company-owned property in Grants, New Mexico, embracing the latest . The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Required fields are marked *. Bright Green Corporation. securely through SoFi Active Invest (Brokerage)'s website, securely through Freedom Finance's website, cultivated by humans for at least 12,000 years, What Analysts are Saying About Bright Green IPO, Do Not Sell My Personal Data/Privacy Policy. 4 min read. Bright Green develops uniqueness within the plant architecture with homogenous cannabinoid expression and powdery mildew tolerance. Typically in groundbreaking ceremonies, only top executives or board members take the stage. Its a pump and dump. It is a highly productive growth strategy that results in mature clone plants created from tiny clippings. Agent Name CORPORATION SERVICE COMPANY Agent Address 251 LITTLE FALLS DRIVE, WILMINGTON, New Castle, DE, 19808 Edward Robinson is the founder and CEO of the Robinson Advisory Services PLLC. Lets start up with the current stock price of Qurate Retail Inc. (QRTEA), which is $1.94 to be very precise. But the Florida-based company's shares have since plunged on the Nasdaq, from nearly $60 to the low single digits. The Company undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Companys control. This site uses Akismet to reduce spam. Bright Green Corporation provides federally-authorized researchers legal access to high-quality cannabis and associated products. Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stocks existing status and the future performance. The company was founded by Lynn Stockwell on April 16, 2019 and is headquartered in Fort Lauderdale, FL. 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.. The horticulturists start with cultivars that were carefully selected for essential characteristics, cross-bred, and generated to exhibit desired characteristics. Its last market close was $0.489 - an increase of 27.68% over the previous week. ("Bright Green" or "the Company"), one of the very few companies selected by the U.S. government to grow . Bright Green Media ContactBrightGreen@edelman.com, Bright Green Investor Relations ContactBrightGreenIR@edelman.com, Just hours before the Idaho murders, another grisly scene unfolded outside Bryan Kohberger's window, Polar bear kills woman, boy in remote Alaska village, Hawaii fisherman overboard, missing after hooking large ahi, Reality TV star Julie Chrisley reassigned from Florida prison to federal medical center, The rich and powerful flocked to Davos via private jet to discuss climate change, study finds. While the likely federal approval of Bright Greens cannabis enterprise will be a landmark achievement, the company has to parlay that success with meaningful momentum. Photo published by Albuquerque Business First. 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. If youre not yet familiar with the organization, here are twenty things you probably didnt know about Bright Green Corporation to bring you up to speed. 22. Unlike a traditional bread-and-butter IPO, BGXX stock will enter the market via a special category called a direct public offering (DPO) or better known as a direct listing. He was also to get 2.5 million shares. Bright Green Corporation provides superior products for research teams, 4. In his lawsuit, he claims that the Stockwells approached him to be CEO. Our conditional approval based on already agreed terms from the U.S. Drug Enforcement Administration gives us the opportunity to advance our vision of improving quality of life through the opportunities presented by cannabis-derived therapies. According to the, No additional shares are offered to the public, which reduces scrutiny. Bright Green Corporation (BGXX): Investors are pay Get in on this Buy-In Opportunity with Qurate Retail Inc. (QRTEA), Take note of this Trade Activity: Trilogy Metals Inc. (TMQ), The Stars are Aligning for Holders of AEye Inc. (LIDR). Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Companys control. Its a serious business that employs world-class professionals in their respective fields. The company is sanctioned to provide cannabis, and cannabis-related products legally, for North American research projects. He was then terminated. The only thing keeping the deal from being consummated was that Bright Green needed to deposit some escrow money. Especially under present economic difficulties, cannabis businesses make sense because of their potential as a taxable revenue source. But thats also where Bright Green is unique among marijuana stocks. It is a company that is dedicated to furthering research to improve the quality of human life. Following the U.S. Drug Enforcement Administration (DEA) inspection of Bright Greens agricultural complex, including its pre-existing facilities, as well as greenhouses and manufacturing facilities, in September 2022, the Company are very pleased to announce the completion of its processing facilities and have now scheduled a dry run audit, testing both the SOPs (Standard Operating Procedures) and processing capabilities as a requirement before final registration. 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