Bright Green Corporation Has Signed Agreement with Majority Shareholder as Plan Sponsor on Prepackaged Plan to Restructure the Company.

Core Viewpoint - Bright Green Corporation is restructuring under Chapter 11 bankruptcy to facilitate a $3.5 billion investment aimed at enhancing the U.S. drug supply chain through the establishment of new mega farms for controlled substances production [2][4][5]. Group 1: Company Restructuring - The Company has entered into a Restructuring Support Agreement (RSA) with major shareholder Lynn Stockwell to implement a Prepackaged Plan of Reorganization under Chapter 11 [2]. - The Plan includes provisions for funding an Exit Facility, full cash payment of allowed administrative claims, and a reorganization strategy involving a 1 for 50 reverse stock split [4][5]. Group 2: Investment and Operations - The Company plans to utilize federal loan guarantees for 60 new mega farm owner/operators, collectively investing $3.5 billion to strengthen the Drugs Made in America supply chain [1][4]. - The anticipated new infrastructure is expected to create thousands of jobs and support the Company's EB-5 program through legal immigration [4]. Group 3: Management and Future Direction - Lynn Stockwell, the new CEO and Chairman, emphasizes the Company's unique position to produce and research legal controlled substances under government regulations [3]. - Upon emergence from bankruptcy, the Company plans to change its name to Drugs Made in America Corp. and will have a management team experienced in controlled substance production and drug supply chain management [6].