According to a recently filed S-1/A, Bright Green Corporation (BGXX) is one of the few companies to have received conditional approval from the DEA to produce federally legal cannabis for research purposes. Accordingly, 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 will be authorized by the federal government to sell, market cannabis for research and manufacturing purposes, export cannabis for international cannabis research purposes, and sell cannabis to pharmaceutical companies registered with of the DEA for the production of medical cannabis products and preparations, subject to final registration and license with the DEA, as set forth in the MOA. We plan to focus on the development of cannabis strains and the sale of products high in CBN (cannabinol) and CBG (cannabigerol). If and when federal law permits, we also plan to sell cannabis-derived CBN and CBG to consumers.
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