Parallel Archives - Cannabis Business Executive - Cannabis and Marijuana industry news

After ambitious launch, medical cannabis company to shutter Pennsylvania operations

A medical marijuana processing facility and two dispensaries are closing in Pittsburgh and Erie, leaving at least 76 people out of work amid lawsuits and allegations of unpaid rent and financial turmoil. Goodblend Pennsylvania LLC will close its sprawling medical…

How a chewing gum heir fell into a sticky situation with weed

Beau Wrigley’s cannabis company is beset by lawsuits filed by angry investors alleging fraud. William “Beau” Wrigley Jr. envisioned building a weed empire that would one day rival his family’s legendary chewing gum business. The former CEO of the Wrigley…

Scooter Braun’s SPAC, Beau Wrigley’s pot firm Parallel call off merger

(Reuters) -Cannabis producer Parallel and media industry executive Scooter Braun-backed Ceres Acquisition Corp have mutually terminated their $1.88 billion merger agreement, the blank-check company said on Thursday. While the companies did not give a reason for pulling the plug on…

Innovative Industrial Properties Acquires Florida Property and Expands Real Estate Partnership with Parallel, a U.S. Cannabis Company

September 21, 2020
Press Release
Banking, Finance & Real Estate, Press Releases
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PRESS RELEASES SAN DIEGO--(BUSINESS WIRE)-- Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition…