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DEA Approves $300M Marijuana Research and Grow Facility in NM

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New Mexico will soon be the home to one of the nation’s largest cannabis manufacturing and research facilities as New Mexico Gov. Michelle Lujan Grisham and Bright Green Corp. announced a $300 million investment in a state-of-the-art agricultural ecosystem on company-owned property in Grants, New Mexico, that will embrace the latest technology and automation, delivering consistency and purity to the production of high-quality cannabis for the advancement of medical research.

“I couldn’t be more excited about the development of another world-class research facility right here in New Mexico,” said Gov. Lujan Grisham. “New Mexico as a state has a legacy of leading in research and science. And Bright Green is an exciting partner that I’m glad has chosen to make an impact here in our state. We have the talent, workforce and innovative spirit to make this forthcoming new industry a complete success. Investments like this one make me even more optimistic.”

The project is expected to create more than 170 construction jobs and an initial 200 research and agricultural jobs.

“With the cooperative spirit of Federal, State, and business we found in New Mexico, we will see New Mexico and Bright Green Corporation become leaders in this emerging field of medical research,” said Lynn Stockwell, the majority owner and controlling stockholder of Bright Green Corporation.

Based in Grants, Bright Green (BGC) was approved by the Drug Enforcement Administration to facilitate the production, storage, packaging, and distribution of medical research marijuana under the new regulations, as well as other applicable legal standards and relevant laws. BGC executed a memorandum of agreement with the DEA earlier this week.

“While much is written about the cannabis market, we believe the true contribution of cannabis lies in its medical applications,” said Ed Robinson, chief executive of Bright Green Corporation. “Our vision is to improve the quality of life across a broad demographic group through the opportunities presented by medicinal applications of plant-based therapies, including cannabis derived products.”

To obtain an authorization from the DEA, applicants are responsible for demonstrating they have met various requirements, including requirements to possess appropriate state authority, document that their customers are licensed to perform research, and employ adequate safeguards to prevent diversion.

 



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