The Massachusetts Cannabis Industry Is A Billion Dollar Marketplace
Cannabis business consulting firm Nucleus One recently released the findings of their February 2021 Massachusetts Adult-Use Marijuana Market Report. Nucleus-One tracks and analyzes data from the Cannabis Control Commission of Massachusetts. February’s report heralded good news for the Commonwealth’s cannabis industry after a short-lived decline in sales in 2020. Since the decline, December and January 2021 saw unprecedented sales, with over 98 active retailers in the state. This growth is due to higher sales in product categories other than flower shares, which hit an all-time low in December.
The Commonwealth’s uptick isn’t confined to the retail space, as the largest Massachusetts operator (measured by active agents), NETA, and its parent company Parallel prepare to go public following a SPAC Agreement with Ceres Acquisition Corp. On the regulatory front, the CCC published new Medical and Adult Use Regu
Parallel CEO Says $1 9 Billion SPAC Deal Will Help It Fund R&D Efforts and Look for Acquisitions
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Parallel CEO Says $1 9 Billion SPAC Deal Will Help It Fund R&D Efforts and Look for Acquisitions
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Parallel Appoints Jeremy Kunicki as Chief Financial Officer
Kunicki brings public company leadership from a global retail and pharmacy chain as Parallel prepares to go public via SPAC
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ATLANTA and WEST PALM BEACH, Fla., March 1, 2021 /PRNewswire/ Parallel, one of the largest privately held, vertically integrated, multi-state cannabis companies in the world, today appointed Walgreen s veteran Jeremy Kunicki as its Chief Financial Officer (CFO), effective immediately. Parallel announced last week that it intends to become a public company through a definitive business combination agreement with Ceres Acquisition Corp., a special purpose acquisition corporation (SPAC). As CFO, Kunicki will lead Parallel s finance and operations functions, as well as oversee corporate finance, shared services activities and operational management of the organization. James Whitcomb, who had served as Parallel s Interim CFO, will continue in hi
Field Trip Intends to Use the Net Proceeds From the Offering for the Development of the Company’s FT-104 Novel Psychedelic Development Program, the Opening of New Field Trip Health Centers, and for Working Capital and General Corporate Purposes
Field Trip Health (OTC:FTRPF) announced that, due to strong demand, it has agreed with a syndicate of underwriters led by Bloom Burton Securities, to increase the size of its previously announced $50,000,015 bought deal offering. Pursuant to the upsized deal terms, the underwriters have agreed to purchase, on a bought deal basis, 12,750,000 common shares of Field Trip, at a price of $6.50, for aggregate gross proceeds of $82,875,000.