Breaking News: Lynn Stockwell Takes on New Role as Executive Chair and CEO in Restructuring Deal with Bright Green Corporation
GRANTS, NEW MEXICO, Dec. 27, 2024 (GLOBE NEWSWIRE) —
Bright Green Corporation (OTC: BGXX) (“Bright Green” or the “Company”) announced today that Lynn Stockwell has agreed to terms for a restructuring security agreement (“RSA”) with Bright Green that is expected to be executed soon.
Lynn Stockwell, the founder of Bright Green Corporation, Drugs Made in America Acquisition Corp I, and Drugs Made in America Acquisition Corp II seeks to align her vision to on-shore the end-to-end active pharmaceutical ingredient (“API”) manufacturing back to the United States. The plan realigns the Company with her plan to scale and position the Company as the facilitator and supplier of plant-based controlled substances authorized to manufacture in the United States. The restructuring and new direction will include the cancellations of all the company’s existing contracts expressed or implied, land purchase options, employment agreements, board member agreements, financing agreements, and warrants.
Implications for You
As a consumer, this restructuring deal could potentially lead to a more transparent and domestically-sourced supply chain for pharmaceutical products. Depending on the success of the restructuring, there may be an increase in availability and quality of plant-based controlled substances manufactured in the United States.
Implications for the World
This move by Lynn Stockwell and Bright Green Corporation could have far-reaching effects on the global pharmaceutical industry. If successful, it may set a precedent for other companies to bring back manufacturing operations to the United States, leading to a shift in the global supply chain of pharmaceuticals.
Conclusion
The restructuring deal between Lynn Stockwell and Bright Green Corporation marks a significant shift in the company’s direction, with the potential to impact both consumers and the global pharmaceutical industry. As the plan unfolds, it will be interesting to see how this decision shapes the future of plant-based controlled substance manufacturing in the United States and beyond.
