Bright Green Announces it has been added to the Russell 3000® Index following the Annual Reconstitution
23 Juni 2023 - 3:00PM
Bright Green Corporation (Nasdaq: BGXX) (“Bright Green” or “the
Company”), one of the few companies selected by the U.S. government
to grow, manufacture, and sell, legally under federal and state
laws, cannabis and cannabis-related products for research,
pharmaceutical applications and affiliated export, today announced
that it is set to join the broad-market Russell 3000® Index at
the conclusion of the 2023 Russell indexes annual reconstitution,
effective after the US market opens on June 26, 2023.
The annual Russell indexes reconstitution
captures the 4,000 largest US stocks as of April 28, 2023,
ranking them by total market capitalization. Membership in the US
all-cap Russell 3000® Index, which remains in place for one
year, means automatic inclusion in the large-cap Russell
1000® Index or small-cap Russell 2000® Index as well as
the appropriate growth and value style indexes. FTSE Russell
determines membership for its Russell indexes primarily by
objective, market-capitalization rankings and style attributes.
“We believe that inclusion in the widely
referenced Russell U.S. Indexes is another milestone in Bright
Green’s progress, which includes our recent DEA approval making us
the only publicly traded, federally authorised company in the
United States,” said Seamus McAuley, Bright Green’s Chief
Executive Officer. “We look forward to continued progress on our
strategic path as we now shift our focus to producing high quality
API and botanical raw material for sale to researchers across the
U.S. and internationally, as well as producing API for candidates,
and so, inclusion in the Russell Index in the healthcare category
is continued demonstration of our progress and of the development
of the Company and its capabilities.
“The Bright Green business aims to elevate the
use of cannabis, through the application of scientific rigor, to
harness its therapeutic value. Driven by a renowned team of
scientists, we have an extensive IP portfolio which will allow us
to develop medicines which have an impact on people’s health around
the world and we are excited to begin our pre-clinical program. We
are fully committed to the science, development and worldwide
marketing of FDA non-synthetic medicines and, as a
biopharmaceutical company, our focus is on delivering safe,
effective medicines which harness the benefits of cannabinoids and
which meet all the regulatory standards required for each stage of
that development including a state of the art greenhouse utilising
the most up to date growing methods, GMP and GACP compliant
manufacturing facilities and a robust and effective Quality
Management System which underpins all of our actions. We are
delighted to be included in the Russell Indexes as recognition of
those efforts to date, the value we have created, and to the
continued appeal to investors moving forward. Given all the current
activity in the Company we have added a frequently asked questions
document to our website which provides a comprehensive overview of
all the recent developments in the Company and the impact of
each.”
Russell Indexes are widely used by investment
managers and institutional investors for index funds and as
benchmarks for active investment strategies.
Approximately $12.1 trillion in assets are benchmarked
against Russell’s US Indexes. Russell Indexes are part of FTSE
Russell, a leading global index provider.For more information on
the Russell 3000® Index and the Russell indexes
reconstitution, go to the “Russell Reconstitution” section on
the FTSE Russell website.
About Bright GreenBright Green
is one of the very few companies selected by the U.S. government to
grow, manufacture, and sell, legally under federal and state laws,
cannabis and cannabis-related products for research, pharmaceutical
applications and affiliated export. Our approval based on already
agreed terms from the U.S. Drug Enforcement Administration gives us
the opportunity to advance our vision of improving quality of life
through the opportunities presented by cannabis-derived therapies.
To learn more, visit www.brightgreen.us.
Media Contactir@brightgreen.us
Investor Relations Contactir@brightgreen.us
Cautionary Note Regarding
Forward-Looking StatementsThis 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. 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 Registration Statement on Form
S-1 filed with the Securities and Exchange Commission (the “SEC”)
on March 29, 2022 and declared effective May 13, 2022, and in the
Company’s Quarterly Report on Form 10-Q/A filed with the SEC on
August 19, 2022, 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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