A Fort Lauderdale, Florida-based company that has been tapped by the U.S. Drug Enforcement Administration (DEA) to cultivate cannabis for scientific research could soon make history by becoming the first American cannabis company to trade its shares on Nasdaq. Bright Green Corp. recently filed paperwork with the U.S. Securities and Exchange Commission to trade its shares under the moniker BGXX on the Nasdaq market. The Florida company noted in its SEC filing that the DEA had granted it “conditional approval” to produce cannabis for research purposes. Once the cannabis company receives regulatory approval, investment advisor EF Hutton will calculate its initial share price for the market. Bright Green Corp. began building a massive $300 million cannabis cultivation and manufacturing plant in rural New Mexico after receiving a memorandum of agreement (MOA) from the DEA. A public statement released at the time by New Mexico Governor Lujan Grisham said that the facility would bring around 200 research and agricultural jobs, and 170 construction jobs to New Mexico. Bright Green’s majority owner Lynn Stockwell said at the time that the project would place her company and the state of New Mexico at the forefront of cannabis research.
CannabisNewsWire, 04/05/2022 16:20:00