Bright Green Corporation Announces the completion of its restructuring plan, withdraws from the Cannabis business and sets course on the production of all DEA Scheduled Controlled Substances

Core Insights - Bright Green Corporation has initiated a Restructuring Security Agreement (RSA) to provide new equity for the company, ensuring that all creditors with approved claims will be paid in full while equity shareholders retain their interests without dilution [1] - The company has agreed to withdraw all cannabis-related renewal applications with the DEA, allowing for potential reinstatement once commercial viability is established and federal regulations are clarified [2] - The new CEO, Lynn Stockwell, aims to position Bright Green as a leader in the production of legal controlled substances for medical purposes, establishing a reliable supply chain for active pharmaceutical ingredients (API) [4] Financial and Operational Plans - Bright Green plans to invest $3.5 billion in building DEA and FDA compliant mega farms for controlled substance production, which is expected to create thousands of jobs and support the company's EB-5 program for legal immigration investments [5][6] - The company anticipates generating revenue from contracts for controlled substance production and EB-5 investments, with the latter involving an $800,000 investment from applicants seeking U.S. entry [6] Market Opportunity - The total addressable market for drugs purchased in the United States is estimated to be in the hundreds of billions of dollars, with potential tariffs protecting this new American industry [5] - The company is focused on onshoring controlled substance production back to the U.S., which has historically relied on imports from countries with less stringent quality controls [4]