Parallel's goodblend™ Texas Launches the First CBN Cannabis Product Line for Patients Through Texas Compassionate Use Program

AUSTIN, Texas, June 16, 2021 /PRNewswire/ -- goodblend™ Texas, a retail brand of Parallel, one of the nation's largest privately-held multi-state cannabis operators, today announced the launch of the first cannabinol (CBN) products for patients registered in the Texas Compassionate Use Program. The Surterra Wellness Dream +CBN branded tincture introduction marks the fifth first-to-market product innovation the company has launched in the Lone Star State in the last nine months, following the launch of Texas' first medical cannabis capsule format for qualifying patients.  Earlier this week, Parallel's Massachusetts retail brand, New England Treatment Access (NETA), launched a Surterra Wellness Dream +CBN product, making it the first CBN product offered to its customers.

"We are excited to debut yet another first-to-market cannabis product in Texas and to extend our Surterra Wellness line into the Massachusetts market with the launch of Dream +CBN. Our proprietary formulas are crafted to help qualifying patients improve their quality of sleep, which is a big contributor to overall health and well-being," said William "Beau" Wrigley, Jr., Chief Executive Officer and Chairman of Parallel. "Dream +CBN exemplifies Parallel's emphasis on bringing patients a wide variety of innovative product formats and proprietary cannabinoid blends through our dedicated R&D team." 

In Texas, the Dream +CBN product line comes in a 15mg dose of CBN and THC per milliliter (ml), contains a proprietary Dream terpene profile, and is infused with the cannabinoid ratio of 2 CBN : 1 THC.

"goodblend Texas is proud to be the first medical cannabis dispensary in Texas to offer a product with the rare cannabinoid CBN to qualifying patients across the Lone Star State through the Compassionate Use Program. Good quality sleep is essential to overall health and well-being, and we are excited to provide qualifying patients a high-quality alternative to sleep aids to help them feel rested and restored," said Marcus Ruark, President of goodblend Texas.

Medical cannabis patients across Texas already registered in the program, and those interested in learning more about cannabis, can access board-certified prescribers, medical cannabis information, services, and products in the following ways:

• The goodblend Virtual Clinic is a service in which prospective patients can schedule consultations with a board-certified prescriber through a seamless experience. To get started, visit tx.goodblend.com/clinic.
• goodblend.com offers a wide variety of products, easy online ordering, and free contactless home delivery, often in as little as three days.
• goodblend's partner clinics in Plano, Houston, Fort Worth, and San Antonio provide registered patients a convenient way to pick up goodblend cannabis products at locations in major metropolitan areas.

The launch of the first CBN product in Texas follows the recent news that Parallel invested $25M in a new state-of-the-art cannabis cultivation, production, and retail facility in San Marcos, Texas. This financial commitment expands Parallel's ability to meet the growing demand for medical cannabis products in Texas. The planned 63,000 square-foot facility is expected to create hundreds of new jobs in the San Marcos region over the coming years. The company also recently introduced its goodblend™ retail brand, which reflects Parallel's intent to lead the way to the future of cannabis by providing patients a trusted, consistent and seamless way to connect and learn, and to access innovative, high-quality cannabis products in a variety of formulations. The brand is about welcoming every type of customer and being an approachable source for customers' well-being. 

About CBN

Cannabinol (CBN) was the first cannabinoid to be identified and isolated from the cannabis plant in 1899 long before the discovery of THC or CBD.  One of more than 100 cannabinoids found in the cannabis plant, CBN has grown in popularity lately as more customers claim its benefits for sleep. CBN is often used for its potential relaxing qualities and sedative effects when combined with THC. Like all cannabinoids, its effect is generated from the interactions between our endocannabinoid system and its receptors. CBN binds to both endocannabinoid and GABA receptors in the body, neurotransmitters that are crucial to the body's natural sleep cycle. When THC is combined with CBN and other cannabinoids, effects and benefits are amplified.

About Surterra Wellness Dream + CBN

Surterra Wellness is a line of products designed to help people start living their best lives. It began as a Florida-only cannabis brand and is now offered in a number of product formats in Texas and as the Dream +CBN product in Massachusetts. 

In Texas, pricing and additional details on Surterra Wellness Dream +CBN (2 CBN : 1 THC), (available to order starting June 22) can be found at tx.goodblend.com.

In Massachusetts, the Surterra Wellness Dream +CBN 15 ml tincture oil blends a ratio of 1 CBN : 2 THC, and is sold exclusively through NETA retail stores to both medical and adult customers. Pricing and additional details can be found at netacare.org.

About Parallel

Parallel is one of the largest privately-held, vertically integrated, multi-state cannabis companies in the United States with a mission to pioneer well-being and improve the quality of life through cannabinoids. Parallel recently announced that it intends to become a public company through a definitive business combination agreement with Ceres Acquisition Corp. ("Ceres"), a special purpose acquisition corporation (SPAC). Parallel has ongoing operations in four NEO: CERE.U, CERE.WT; OTCQX: CERAF medical and adult-use markets under the retail brands of Surterra Wellness in Florida; goodblend in Texas; New England Treatment Access (NETA) in Massachusetts, and The Apothecary Shoppe in Nevada. Parallel also has a license under its goodblend Pennsylvania brand for vertically integrated operations and up to six retail locations, in addition to a medical cannabis research partnership with the University of Pittsburgh School of Medicine. Subject to regulatory approval, Parallel will add Illinois as a sixth market when its recently announced acquisition of six Windy City Cannabis licenses is complete. Parallel has a diverse portfolio of high quality, proprietary and licensed consumer brands and products including Surterra Wellness, Coral Reefer, Float and Heights. Parallel operates approximately 50 locations nationwide, including 42 retail stores, and cultivation and manufacturing sites. Through its wholly-owned Parallel Biosciences subsidiary, it conducts advanced cannabis science and R&D for new product development in its facilities in Massachusetts, Florida, Texas and a facility in Budapest, Hungary through an exclusive license and partnership. Parallel follows rigorous operations and business practices to ensure the quality, safety, consistency, and efficacy of its products and is building its business by following strong values and putting the well-being of its customers and employees first. Find more information at www.liveparallel.com, or on Instagram and LinkedIn. 

For more information on goodblend Texas and its products, access  tx.goodblend.com and www.facebook.com/goodblendtx. 

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Forward Looking Statements

Certain information in this communication contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation and U.S. securities law (referred to herein as forward-looking statements). Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include, but are not limited to, statements related to activities, events or developments that Parallel expects or anticipates will or may occur in the future, statements related to Parallel's business strategy objectives and goals, and Parallel's management's assessment of future plans and operations which are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Forward-looking statements can often be identified by the use of words such as "may", "will", "could", "would", "anticipate", 'believe", expect ", "intend", "potential ", "estimate", "budget", "scheduled", "plans", "planned", "forecasts", "goals" and similar expressions or the negatives thereof. Such statements are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and are based on Parallel's management's belief or interpretation of information currently available. Forward-looking statements are neither historical facts nor assurances of future performance. Forward-looking statements in this communication includes statements regarding the product launch, Parallel's business plans in Texas, the effects of Parallel's products on its customers and Parallel's business strategy. Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such information is provided, and forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. 

SOURCE Parallel

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