{"id":745104,"date":"2023-04-04T08:45:32","date_gmt":"2023-04-04T12:45:32","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/bright-green-announces-decision-to-complete-alterola-biotech-acquisition\/"},"modified":"2023-04-04T08:45:32","modified_gmt":"2023-04-04T12:45:32","slug":"bright-green-announces-decision-to-complete-alterola-biotech-acquisition","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bright-green-announces-decision-to-complete-alterola-biotech-acquisition\/","title":{"rendered":"Bright Green Announces Decision to Complete Alterola Biotech Acquisition"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <em>Bright Green to acquire remaining 75% of Alterola common stock<\/em><br \/>\n        \n      <\/p>\n<p align=\"center\">\n        <em>Agreements and completion will be subject to customary conditions and regulatory and stockholder approvals<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>Alterola will support Bright Green\u2019s activities to manufacture and distribute federally compliant, pharmaceutical-grade cannabis and derivatives<\/em>\n      <\/p>\n<p>GRANTS, N.M., April  04, 2023  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=49Tk4Fuq-xmlXadVSX3XCYZq-rUZ9_iCylJY6T1XR3O2KVNLhjHZWwucTMf-pU8YGcwUHqHy5NkzkgGFph9dDPZ2RurvpIpPwWDrXFgJJdPtXcA_uB_Vfxv70p55grF5y_WFj58NHbIJlwyhxdf0-ZH9ALigReBke0gyIFB0sNgSy38GvMEqwr5CQKbYMb-2ZcufmltyF2ELpSflN--4L5a9AL_Dm7wjJFg2wjwZqt1NKk0c7aqVnnkN6qV5xf-IS_Vx8jnAEgsPe00Blibx1A==\" rel=\"nofollow noopener\" target=\"_blank\">Bright Green Corporation<\/a>\u00a0(NASDAQ: BGXX) (\u201cBright Green\u201d or \u201cthe Company\u201d), 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, today announced that it will move forward with its previously <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=0ZhtpUa9jXk8-3EFuDE3o6OtnankpOW5BNxDmy6QBgP6MnesZWa_XGtpaFag3DfxxGA8dRmJ5tFhhILopADR3izvCmItjMpxCaU2zaB8L0v5FuoeULPcPUDEq3diXyy-5aoun_hk5fkxxxg-YYybWRELpudM7IpCsT8fS_4DhGxTBr5XkenU6Cu3yY8cjkJA4TVkhNJ80Ior7IKcKtQPVg==\" rel=\"nofollow noopener\" target=\"_blank\">announced<\/a> strategic arrangement and confirms its intention to exercise the call option on the total acquisition of the remaining issued and outstanding common stock of Alterola Biotech (OTC PINK:ABTI), a U.K.-based pharmaceutical company focused on developing cannabinoid and cannabinoid-like medicines and products.<\/p>\n<p>By exercising its option to purchase Alterola\u2019s remaining issued and outstanding common stock over the coming months, Bright Green will complete the acquisition using Bright Green common stock.<\/p>\n<p>\u201cToday\u2019s announcement is the culmination of discussions and confirmation of our intention to acquire Alterola,\u201d said Bright Green\u2019s Chief Executive Officer, Seamus McAuley. \u201cAlterola\u2019s deep sectoral expertise and pharmaceutical assets will help us more efficiently scale our operations and harness the therapeutic benefits of the Alterola Cannabinoid and Cannabinoid-like medicines, as well as bring a clear path to revenue in 2023.\u201d<\/p>\n<p>\u201cCombining Bright Green and Alterola is a very exciting prospect,\u201d said Alterola Executive Chairman, Tim Rogers. \u201cOur organizations share a common mission to harness the therapeutic potential of medical cannabis and cannabis-based medicines. We look forward to blending our intellectual property programs into Bright Green \u2013 particularly at this important period in the company\u2019s trajectory \u2013 and accelerating the pharmaceutical development and commercialization of these important therapies. Bright Green\u2019s facilities in New Mexico, in combination with our Memorandum of Agreement from the U.S. Drug Enforcement Administration, brings a huge asset to bear on the Alterola pipeline and brings us closer to delivering the therapeutic benefits of our drug candidates.\u201d<\/p>\n<p>\n        <strong>About Bright Green<\/strong><br \/>\n        <br \/>Bright Green is one of the very few companies selected by the US 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 conditional 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\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=aapBspfU-xaVAh8w3rBYcEnUjMBdfgzTer3HRgGsSLGWc25jmx3auC9LKi2ulBzX515nE2TZotaxaSklcxZRqOG_kYGlwcPqwZjuBmrUva0mU_CJfZVsYIfqI8_gT5BKO5k5CZgIOCepOPqbPBPt9We0FLvGYQkdD66duV-mGXkMGFIcet7AO6Bb-McUpO0sOgJCS62lOHQ3uhcqAFM03L1kIyjuWqA_2OxeqhvSAseFkIgiTq4z2F6BW4_GzTrFiP9qzPp_PE2x-AuTKOFzehHvtnXcl1cW3oopo43LsKBhJYVp4jsKvkb7ilHba-kvdyFgxuW3lFbF22yR8TzjmXsUG5KCd0UM8Br4MKonpt2lVzUp7cR3bTWAwrBbERsgGOD_g-91UqaEMMmMOpBlP0FbhJJdCtmXuuVZ68E0iN8J-EAW7Lg0nhOqt8t4luPwKSskVffgkqL5-WZPOkfzNA==\" rel=\"nofollow noopener\" target=\"_blank\">www.brightgreen.us<\/a>.<\/p>\n<p>\n        <strong>About Alterola Biotech<\/strong><br \/>\n        <br \/>Alterola Biotech Inc. is a UK based pharmaceutical company developing cannabinoid, cannabinoid-like, and non-cannabinoid pharmaceutical active pharmaceutical ingredients (APIs) and targeting European novel food approval of cannabinoid-based, cannabinoid-like and non-cannabinoid ingredients and products.<\/p>\n<p align=\"justify\">\n        <strong>Cautionary Note Regarding Forward-Looking Statements:<\/strong><br \/>\n        <br \/>This press release contains \u201cforward-looking statements\u201d within the meaning of the \u201csafe harbor\u201d 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 \u201cexpect,\u201d \u201canticipate,\u201d \u201cshould,\u201d \u201cbelieve,\u201d \u201chope,\u201d \u201ctarget,\u201d \u201cproject,\u201d \u201cgoals,\u201d \u201cestimate,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cmight,\u201d \u201ccould,\u201d \u201cintend,\u201d \u201cshall\u201d 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\u2019s control. The Company\u2019s 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\u2019s Registration Statement on Form S-1 filed with the Securities and Exchange Commission (the \u201cSEC\u201d) on March 29, 2022 and declared effective May 13, 2022, and in the Company\u2019s 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\u2019s 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\u2019s 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\u2019s results is included in the Company\u2019s SEC filings, which may be obtained by visiting the SEC&#8217;s website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=9QK6lXAZQzBDiIHtgGw9JM8QdBoU3vaIMfmG4EodLB_2cX9MmPDKTAJ0Mcpsb8hP2HaGEtPylWIaeiqI7mC-Ow==\" rel=\"nofollow noopener\" target=\"_blank\">www.sec.gov<\/a>.<\/p>\n<p align=\"justify\">\n        <strong>Bright Green Media Contact<\/strong><br \/>\n        <br \/>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=49Tk4Fuq-xmlXadVSX3XCfDFSNJVWt8y7zhWByfBVFTmVYj-fF7O0YeUyF6E-YavTZ7DGEoj_bXmZ4mZN8jpFEMc2HR3oQc_IwBxFYf394M=\" rel=\"nofollow noopener\" target=\"_blank\">BrightGreen@edelman.com<\/a>\n      <\/p>\n<p align=\"justify\">\n        <strong>Bright Green Investor Relations Contact<\/strong><br \/>\n        <br \/>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=49Tk4Fuq-xmlXadVSX3XCSN_PPJtv38JzWeVA5zb0uAMWH_ehfyz0RaH0we4gZjXpaD7aIw5Hb7_zH3r824965AuG48sIT3MuywFazIoYtI=\" rel=\"nofollow noopener\" target=\"_blank\">BrightGreenIR@edelman.com<\/a>\n      <\/p>\n<p>\n        <strong>Alterola Investor Relations Contact<\/strong><br \/>\n        <br \/>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=3JU1_v8WNJdHb2LpeXulHFNhUhrz4ECTnQtMhBAKE3ckNNh6cjRZGQ58vrsitrfbF02CGqjPp0vqmloBD8tPdq1pVHgWjObFzXQG9FZ145E=\" rel=\"nofollow noopener\" target=\"_blank\">ir@alterolabio.com<\/a>\n      <\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgwMTMzOSM1NTA4MjI2IzIyNDYxNTU=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/YTg4ZmUyNTYtOTJjOS00OTZhLThlMGItNDQ1Mjk2MjAwMWE3LTEyNTc3MDg=\/tiny\/Bright-Green-Corporation.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bright Green to acquire remaining 75% of Alterola common stock Agreements and completion will be subject to customary conditions and regulatory and stockholder approvals Alterola will support Bright Green\u2019s activities to manufacture and distribute federally compliant, pharmaceutical-grade cannabis and derivatives GRANTS, N.M., April 04, 2023 (GLOBE NEWSWIRE) &#8212; Bright Green Corporation\u00a0(NASDAQ: BGXX) (\u201cBright Green\u201d or \u201cthe Company\u201d), 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, today announced that it will move forward with its previously announced strategic arrangement and confirms its intention to exercise the call option on the total acquisition of the remaining issued &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bright-green-announces-decision-to-complete-alterola-biotech-acquisition\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bright Green Announces Decision to Complete Alterola Biotech Acquisition&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-745104","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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