We plan to focus on the development of cannabis strains and the sale of products with a high concentration of cannabinol (CBN) and cannabigerol (CBG).
As a public company, Bright Green is well-positioned to capitalize on the growing demand for medical cannabis, a market which is projected to increase from $22.4 billion in 2020 to $87.4 billion globally in 2027.
We plan to sell cannabis and cannabis extracts to pharmaceutical companies and research institutions with a Schedule 1 license pursuant to our conditional approval from the DEA. Importantly, domestic sales of cannabis products will be made only via bona fide supply agreements with authorized DEA registrants, and not directly to consumers.
A DEA registration will allow us to sell cannabis to DEA-registered pharmaceutical companies to produce medicinal cannabis or cannabis preparations and export cannabis to researchers internationally who hold a license comparable to a U.S. Schedule 1.