According to a recently filed S-1/A, Bright Green Corporation (BGXX) is one of the few companies that have received conditional approval from the DEA to produce federally legal cannabis for research purposes. As a result, the company expects its common stock to begin trading on Nasdaq on or about May 12, 2022.
The company notes that: “Unlike state-licensed cannabis companies that engage in commercial sales to consumers, and whose businesses are legal under state law but not federal law, we will operate legally under all applicable laws and be authorized by the federal government to sell cannabis commercially for research and manufacturing purposes, export cannabis for international cannabis research purposes, and sell cannabis to DEA-registered pharmaceutical companies for the production of medical cannabis products and preparations, subject to final registration and licensure with the DEA as set forth in the MOA. We plan to focus on the development of cannabis strains and sales of products with high contents of CBN (cannabinol) and CBG (cannabigerol). If and when permitted under federal law, we also plan to sell cannabis-derived CBN and CBG to consumers.”
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