U.S. Legal Cannabis Pioneer Bright Green Corporation Appoints Industry Veteran Groovy Singh as New Chief Executive Officer
03 Ottobre 2023 - 5:11PM
Bright Green Corporation (NASDAQ: BGXX) (“Bright Green” or “the
Company”), announced today their appointment of Groovy Singh, a
renowned leader and strategist in the cannabis and wellness
industries, as Chief Executive Officer. Singh will replace current
CEO Seamus McAuley, who is stepping back from the position to
address recently developed health-related concerns. McAuley will
assume an advisory role to Mr. Singh during the transition to
continue facilitating the company’s success while remaining focused
on his recovery.
Mr. Singh comes to the role with extensive
experience in both U.S. and international markets across consumer
products, retail, fashion, entertainment, and wellness. Over a
23-year career as co-founder and executive, he has driven the
successful growth and expansion of both private brands and public
corporations. He brings a penchant for international partnerships
as demonstrated at TWC Brands Inc. where he forged alliances with
global active apparel brands Billabong, Reebok, and Disney; and
developed significant relations with foreign investors through the
management of a real estate fund which will be pivotal to Bright
Green’s EB-5 program. Most recently, Mr. Singh co-founded and was
the Chief Marketing Officer of Glass House Brands where he was
responsible for the formation and growth of the company’s
commercial cannabis operations including six million square feet of
cultivation and consumer retail business.
“The Bright Green Board and I are very grateful
to Seamus for the work carried out thus far, and we are fully
understanding of the health challenges he currently faces. We offer
him nothing but our support moving forward,” Terry Rafih, Executive
Chairman of the Board of Directors for Bright Green said Monday.
“We are delighted to appoint Groovy Singh to the role of CEO given
the depth of his experience and shared enthusiasm on the
opportunities that lie ahead for the company. I am confident that,
with his expertise and experience, he will successfully lead the
execution of the next phase of Bright Green’s strategy.”
Mr. Singh addressed his appointment on Monday
with enthusiasm, stating, “I think Bright Green is positioned with
an opportunity to not only be the premier cultivator, manufacturer,
and supplier of a new, groundbreaking class of Active
Pharmaceuticals Ingredients, but also to form a trusted network of
domestic and international partners that can facilitate the
expansion of this impactful approach to medicine and therapies.
This is the vision that is shared across the Founders and Board
Members of Bright Green -- to have everything under one roof and
“Made in the USA” from start to finish.” Singh continued, “I am
eager to leverage the monumental achievements that Bright Green’s
leadership has already solidified, including the EB-5 program and
our existing international exposure—an element I am particularly
looking forward to building on.”
Singh’s appointment comes closely behind Bright
Green’s February announcement of its plans to raise $500 million
under the United States Citizens and Immigration Services (“UCISC”)
EB-5 Program, a result of the company’s historic DEA registration
as the first and largest publicly traded company in the U.S.
to be federally authorized to grow, manufacture and sell cannabis
and cannabis-related products for research, pharmaceutical
applications, and affiliated import and export—a milestone the
company announced in April this year. As the new CEO, Singh will
look to use that momentum to significantly impact and progress
business and commerce operations in New Mexico, helping drive
Bright Green’s position as a pioneer in the cannabis and
pharmaceutical space. Further details on the Bright Green EB-5
program can be found by visiting our dedicated EB-5 website
www.brightgreen.us/eb5
In conjunction with his appointment to CEO of
Bright Green, Singh holds seats on the boards of several
International companies in the Agtech, Real Estate, and CPG
sectors. He holds a B.A. from Stanford University and an OPM
certification from Harvard Business School.
Media Inquiries & Investor Relations
Contactir@brightgreen.us
About Bright Green
Bright Green is one of the first companies
selected and approved by the US government to legally grow,
manufacture, and sell cannabis and cannabis-related products for
research, pharmaceutical applications and affiliated export under
legal and state law. Our approval, based on pre-agreed terms set by
the U.S. Drug Enforcement Administration, gives Bright Green the
opportunity to advance the vision of improving quality of life
through the opportunities presented by cannabis-derived therapies.
To learn more, visit www.brightgreen.us.
Cautionary Note Regarding Forward-Looking
Statements
This press release
contains “forward-looking statements” within the meaning of the
“safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are made as of
the date they were first issued and were based on current
expectations, estimates, forecasts and projections as well as the
beliefs and assumptions of management as of such date. Words such
as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,”
“project,” “goals,” “estimate,” “potential,” “predict,” “may,”
“will,” “might,” “could,” “intend,” “shall” and variations of these
terms or the negative of these terms and similar expressions are
intended to identify these forward-looking statements.
Forward-looking statements are subject to a number of risks and
uncertainties, many of which involve factors or circumstances that
are beyond the Company’s control, including but not limited to, the
inability of the Company to raise funds under the Company’s EB-5
program, and the impact that new officers, directors and employees
may have on the Company and the Company’s business and results of
operations. The Company’s actual results could differ materially
from those stated or implied in forward-looking statements due to a
number of factors, including but not limited to, risks detailed in
the Company’s Annual Report on Form 10-K and Quarterly Report on
Form 10-Q, as amended and supplemented, as well as other documents
that may be filed by the Company from time to time with the SEC.
The forward-looking statements included in this press release
represent the Company’s views as of the date of this press release.
The Company anticipates that subsequent events and developments
will cause its views to change. The Company undertakes no intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
These forward-looking statements should not be relied upon as
representing the Company’s views as of any date subsequent to the
date of this press release. Additional information regarding these
and other factors that could affect the Company’s results is
included in the Company’s SEC filings, which may be obtained by
visiting the SEC's website at www.sec.gov.
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