Bright Green Delisted by NASDAQ

Nevertheless, the company is still going ahead with its scheduled annual meeting on November 15, 2024.

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iStock/Nikolay Ponomarenko

Bright Green today announced that trading of its shares have been suspended from the Nasdaq Stock Exchange after Nasdaq cancelled the scheduled September 26, 2024 delist appeal hearing.

The company filed its proxy statement and will proceed with its scheduled annual meeting on November 15, 2024, during which shareholders will discuss key issues, including the potential for a reverse stock split aimed at enhancing shareholder value and positioning the company for future success.

In addition to these efforts, the company is actively exploring various strategic alternatives to unlock long-term value.

"As chairwoman of the board, I want to reaffirm our unwavering commitment to the future of Bright Green. We have provided a line of credit to ensure the company has the necessary financial resources to support its ongoing operations and strategic initiatives and have agreed to provide $2.5 million in funding. This financing provides the company with the flexibility to navigate the challenges ahead and continue to invest in opportunities that will drive long-term growth. The board and management team remain fully aligned in our efforts to create value for our shareholders as we explore potential strategic alternatives."

"We remain confident in our vision and strategy for the future of Bright Green, including the success of our EB-5 capital raise program. The EB-5 capital raise program has been faced with challenges with the U.S. government immigration and border control complications and other government related delays in processing." said Groovy Singh, Chief Executive Officer of the company. "We continue to focus on achieving licensing approvals and on our vision of enhancing national security interests by growing and producing Schedule I and II plant-based medicines. We are evaluating all options available to us, including strategic partnerships and acquisitions, as we continue to build on our foundation and explore opportunities for sustainable financing and growth."

Bright Green will provide further updates on these initiatives in due course. The company encourages all shareholders to attend the upcoming annual meeting, where they will have the opportunity to participate in these important discussions.

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