Bright Green completes restructuring plan, withdraws from cannabis business

Bright Green (BGXX) announced that on February 24, 2025, on behalf of the Company, Lynn Stockwell has asked the court to approve the “RSA” Restructuring Security Agreement. The highlights of the RSA will provide new equity for the company to pay all creditors with approved claims in full, in addition the Company equity shareholders will retain their interests in the Company and are unimpaired with no dilution. The Company in its restructuring efforts has entered into an agreement with the DEA to immediately withdraw all Cannabis related renewal applications. This agreement will allow for reinstatement once the Company is satisfied that there is commercial value, and the federal government clarifies a path that will stabilize operations for medical research and possible drug development. Lynn Stockwell, the new CEO and Chairman of the Board of Directors of the Company also sponsors and manages other public corporations that are building a financial war chest to be used for acquisitions of revenue generating, well managed corporations for the platform of onshoring controlled substance production, API and manufacturing back to the U.S. These legal controlled substances have never been produced commercially in the United States. The critical supply is imported from countries where diversion and quality controls are not a priority. Gurvinder Singh will rejoin the Company as General Manager responsible for the EB-5 program administered by Bright Green Regional Center and help direct the Company forward. The Company’s planned revenue is from contracts for production of controlled substances and EB-5 investment, the $800,000 investment from applicants seeking a green card administered by the USCIS EB-5 program that could generate significant capital from qualified applicants that seek entry into the United States through legal immigration.