2024-02-22 13:39:34 ET
DENVER, Colo., Feb 22, 2024 ( 247marketnews.com ) – ( NASDAQ:BGXX ) discussed in this article.
Bright Green Corporation (Nasdaq: BGXX) (“Bright Green†or the “Companyâ€) company announced today that final approval has been received from the New Mexico Board of Pharmacy and the DEA for unique licensing that allows Bright Green to register, license, and authorize Schedule I and Schedule II plant-based drugs and Active Pharmaceutical Ingredients (APIs) for research, production, and manufacturing purposes. Schedule I Substances include Psilocybin, psilocybin, mescaline, peyote, ibogaine Schedule II Substances: Opium, poppy straw, raw opium, opium extracts, powdered opium, granulated opium, tincture of opium, opium fluid extracts, opium straw concentrates, pending: erythroxylon coca (cocaine)
Building on previous regulatory milestones like DEA registration for Cannabis, Bright Green was able to successfully navigate the uncharted territory of introducing additional controlled substances, even amidst high levels of uncertainty and complex pending policy changes at the federal level. Achieving this substantial approval allows Bright Green to bring their deep expertise to these issues to help propel our Drugs Made in America movement forward. The company believes this effort will help address the supply chain shortage for plant-based medicines while establishing Bright Green Corporation as the frontrunner for a share of the well-established assessable market in the U.S. worth billions that is currently served extensively by imports.
The research will be conducted the Companyâ€
“As we undergo an expansion of our infrastructure, we plan to leverage the capital to be raised from our exclusive EB-5 partnership with Asia Capital Pioneers Group, as well as funding from federal agenciesâ€, said Groovy Singh, CEO of Bright Green. “The modular design of our facilities positions us to scale with demand and ensure that as production grows, so does our capacity to create jobs in direct correlation with EB-5 capital availability in a methodical phased approach.â€
Read more about the current state of pharmaceutical imports to the U.S. here .
About Bright Green
Bright Green is one of the very few companies selected by the US 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 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. To learn more, visit www.brightgreen.us .
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 Companyâ€
Media Contacts: Interdependence Public Relations Owen Phillips /
Grace Connor BrightGreen@Interdependence.com
(310) 745-1407
Media Inquiries & Investor Relations Contact
ir@brightgreen.us
The post BRIGHT GREEN CORPORATION GAINS MOMENTUM FOR THEIR “DRUGS MADE IN AMERICA†PLATFORM WITH APPROVAL FOR THE RESEARCH, PRODUCTION AND MANUFACTURING OF ALL SCHEDULE I AND SCHEDULE II PLANT-BASED DRUGS first appeared on 24/7 MarketNews .
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