BRIGHT GREEN ANNOUNCES IT HAS OBTAINED A $3.5 MILLION FUNDING COMMITMENT UNDER AN EXISTING LINE OF CREDIT AND HAS ENGAGED AN INVESTMENT BANK TO SEEK A $15.0 MILLION DEBT FINANCING TO MOVE FORWARD WITH COMMERCIALIZATION.

Core Points - Bright Green Corporation is exploring a $15.0 million debt financing to advance commercialization efforts at its DEA-reinspected facility [1] - The company has secured a $3.5 million capital commitment under its existing line of credit, which includes security against its greenhouse facility and a conversion option for the lender [2][3] - The capital commitment will enable Bright Green to pay down existing liabilities and fund the initiation of operations at its Grants, New Mexico facility [3] Financial Details - The line of credit agreement was amended to allow for the conversion of principal and interest into shares at $1.15 per share, with accompanying warrants priced at $0.13 [2] - The warrants allow the purchase of additional shares at $3.00 per share, with an extension of the term by 3 years [2] Company Overview - Bright Green is one of the few companies authorized by the New Mexico Board of Pharmacy and the US government to produce and distribute Schedule 1-V plant-based drugs, including cannabis-related products [4]