Bright Green Corporation (NASDAQ:BGXX) has received funds from its first applications following the announcement of its plans to raise $500 million under the United States Citizenship and Immigration Services’ (“USCIS”) EB-5 Program.
USCIS administers the EB-5 Program, under which investors, their spouses and unmarried children under 21 years of age are eligible to apply for a Green Card if they make the necessary investment in a commercial enterprise in the U.S. Bright Green has already started to build its pipeline of potential investors, comprising both individual applicants, as well as large international companies with a global workforce. Receipt of funds from its first applications validates the proof of concept for the EB-5 Program.
Bright Green plans to immediately utilize funds generated by the EB-5 Program for working capital requirements to operate its current greenhouse facilities in Grants, New Mexico. The company also confirms that they are finalizing the State and Federal occupancy requirements. Once fully compliant, the U.S. Drug Enforcement Administration can confirm the registration of Bright Green’s license, which will allow the company to commence planting, harvesting and extraction of its first product.
Benzinga’s Cannabis Capital Conference Is Back
The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference, returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A starts, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.
Photo by Richard T on Unsplash
