Wrigley’s chewing gum legacy turns from chewing gum to hashish

William “Beau” Wrigley Jr. – the billionaire known for Wrigley’s chewing gum – was Working on a startupAt the same time, he believes he’ll be bigger than his family’s chewing gum business. Aside from the fact that so many people enjoy cannabis, Wrigley believes it can save lives.

For the past three years, Wrigley’s mission was to create the first mainstream cannabis brand. In addition to their numerous products, the company also works with a number of other cannabis brands. For example, in 2019 Parallel invested $ 100 million into a Boston startup, Molecular Infusions, developing THC-infused seltzer.

They currently own a total of 42 pharmacies – 39 in Florida and the rest between Nevada and Massachusetts. The company currently has its eyes set on Pennsylvania and Texas – two states that don’t currently have a large operating cannabis market.

Last Monday, Parallel announced that, sometime this summer, Cere Acquisition Corp. will merge. Wrigley has plans for that bring the company public on the Canadian Stock Exchange.

The aim is to make Parallel a national cannabis brand with 86 pharmacies in 8 states by the end of 2022. The company has already accomplished this by applying for licenses in New Jersey, Virginia and Georgia. You’re also considering California, Michigan, and New York.

“Now is the time to be aggressive,” said Joe Crouthers, CEO of Ceres Acquisition Corp. and soon to be director of the combined stock corporation Forbes. “We think it’s a great combination of skills – what Parallel has in store for you and you add in the marketing power of Scooter [special advisor of Parallel]and the war chest of capital to navigate what’s to come. There is a lot of change ahead of us and we think now is the time. “

The steps Parallel is taking are a reminder of how new this market is. With so many states still lacking the cannabis industry, Wrigley and his team see an opportunity to solidify their foundations and capitalize on what will be a booming market in their respective regions.

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