Bright Green Corporation (NasdaqCM:BGXX) has signed a letter of intent to acquire a 25% stake in Alterola Biotech, Inc. (OTCPK : ABTI) for $4 million on August 25, 2022. Bright Green Corporation (NasdaqCM:BGXX) has entered into secondary stock purchase agreement to acquire a 25% stake in Alterola Biotech, Inc. (OTCPK : ABTI) on October 3, 2022. The Secondary SPA provides that, as of the date thereof, the authorized shares of the Company consist of 2,000,000,000 shares of common stock, $0.0001 par value, of which 807,047,948 shares are issued and outstanding. The Sellers in aggregate sold 201,761,982 Transferred Shares to Bright Green for a purchase price of $3,999,999 pursuant to the payment schedule set forth in the Secondary SPA. Under the terms of agreement, payment will be done as on closing $2.35 million, Within 60 days following the Closing $1 million and Within 90 days following the Closing $0.65 million. Bright Green will initially purchase 25% of the issued and outstanding common stock of Alterola for total consideration of $4 million and will receive a 6 month option to purchase Alterola's remaining issued and outstanding common stock for an additional $6 million and approximately $40 million in Bright Green common stock. Terry Rafih, or his designee, shall be appointed to Alterola's Board of Directors. The transaction is subject to completion of initial satisfactory due diligence, Bright Green shall have obtained and completed sufficient and satisfactory financing of the Purchase Price, other customary conditions and closing of the additional proposed arrangement, which will be set forth in a final definitive agreement. The transaction is expected to close in the second half of 2022. Dentons Durham Jones Pinegar P.C. acted as legal advisor to Bright Green Corporation in the transaction.

Bright Green Corporation (NasdaqCM:BGXX) completed the acquisition of 25% stake in Alterola Biotech, Inc. (OTCPK : ABTI) from Phytotherapeutix Holdings Limited, Equipped 4 Holdings Limited and T.P.R. Global Service Srl on October 4, 2022.