Bright Green Corp Board of Directors Revamp
Bright Green Corp, a Delaware corporation, has announced significant changes to its Board of Directors with the appointment of Sean Deson, a seasoned finance professional. Deson’s appointment, coupled with his extensive experience in investment banking and private equity, underscores the company’s commitment to bolstering its leadership team.
CFO Agreement Formalization
Concurrently, Bright Green formalizes an agreement with its Chief Financial Officer, Saleem Elmasri, through Titan Advisory Services. This move secures Elmasri’s continued service and offers a compensation package comprising a monthly cash fee and restricted stock units, reinforcing the company’s stability and commitment to key personnel.
Market Response Bright Green Corp Board Revamp
Following these strategic announcements regarding its Board of Directors, Bright Green Corp is experiencing a surge in its market price, accompanied by exceptionally high trading volume. Trading activity far surpasses the daily average volume, with 52.6 million shares already traded at the time of reporting, reflecting investor confidence in the company’s leadership and strategic direction.
At the time of this publication, Bright Green Corp stock (BGXX) has witnessed a surge.
Bright Green Corp
Current Price: $0.35
Change : +0.14
Change (%): (69.15%)
Volume: 52.6M
Source: Tomorrow Events Market Data
DEA Registration Submission
On March 7, Bright Green Corp submitted its Drug Enforcement Administration (DEA) registration for bulk production of Schedule I and Schedule II controlled substances. This pivotal step marks the company’s expansion into the legal manufacturing of plant-based controlled substances, including psilocybin, peyote, ibogaine, coca leaves, and opium poppy, and their active pharmaceutical ingredients (API).
Strategic Alignment
Bright Green’s expansion into controlled substance production aligns with its mission to provide a domestic supply of essential medications, addressing concerns related to disruptions in the global pharmaceutical supply chain. Furthermore, it addresses national security risks associated with the United States’ reliance on imports for critical medications.
Regulatory Approvals and Facility Upgrades
With last year’s DEA registration for cannabis manufacturing and recent approval from the New Mexico Board of Pharmacy for additional controlled substances, Bright Green has undertaken significant renovations and expansions at its Grants, N.M., facility. These initiatives position the company for robust growth and operational excellence in its new ventures.
