Bright Green Corporation has announced that trading of its shares has been suspended from the Nasdaq Stock Exchange after Nasdaq canceled 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 for the long term. These initiatives reflect Bright Green's commitment to strengthening its financial position and expanding its operational footprint in the market.
Groovy Singh, Chief Executive Officer of the Company said, " 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 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."
For more information:
Bright Green
www.brightgreen.us