• Denies any association with John Fikany and Jerry Capussi and categorically refutes the insinuations made on behalf of these individuals
  
• Company requesting immediate retraction while reserving the right to seek relief
• Remains focused on executing its business plan to develop cannabis-based medicines and products

GRANTS, N.M., Feb. 21, 2023 (GLOBE NEWSWIRE) -- Bright Green Corporation (NASDAQ: BGXX) (“Bright Green” or “the Company”), 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 refutation of allegations made public by Mr. Jerry Capussi and Mr. John Fikany. The Company remains focused on continued execution of its business plan and is awaiting full approval from the U.S. Drug Enforcement Administration (DEA).

Bright Green refutes the claims made by Mr. Capussi and Mr. Fikany, specifically:

1. Mr. Fikany has never been, nor offered the role, of Chief Executive Officer of Bright Green Corporation.
2. Bright Green has been and remains fully compliant in both its listing on the Nasdaq and its Securities and Exchange Commission (SEC) reporting before and following the listing. There have been no allegations of securities fraud.
3. Litigation between John Stockwell and/or the Stockwell family related to prior relationships with Mr. Capussi and Mr. Fikany are not applicable to Bright Green and are subject to a separate litigation that includes damages and defamation for false accusations made against the Stockwell family.

The Company is taking action to address the aforementioned false claims and remains focused on the execution of its strategy, to include processing the first applications following the announcement of the United States Citizenship and Immigration Services’ (“USCIS”) EB-5 program last week, and remains focused on concluding the DEA registration process, an important milestone for the Company.

The full details of Bright Green’s business plan can be found in its Information Deck. Further details on the Bright Green EB-5 program can be found by visiting our dedicated EB-5 website: https://bgxxeb5fast.com/. 

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. Such forward-looking statements include those related to our EB-5 Program capital raise. 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 subsequent Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, 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.

About Bright Green
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 www.brightgreen.us.

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