"The introduction of our new parent company brand, under the name Parallel, reflects our transformational growth over the past year and our long-term vision. We need a corporate name that unites the diverse parts of our organization and all of our associates," said William "Beau" Wrigley Jr, CEO and Chairman of Parallel. "We chose the name Parallel because we are improving the well-being of our consumers today through our proprietary, innovative brands while at the same time stepping into the future through robust innovation. We like the name because we see well-being along a spectrum of what quality of life means to different people at different points of their lives, and our brands cover the full range of what they need."

Parallel also announced today the introduction of Goodblend™, the company's new global retail brand. This store brand will become a recognized source across multiple markets where consumers can find a consistent and trusted selection of the company's cannabinoid brands. Goodblend will roll-out initially in Florida over the course of the next several months. Parallel has a house, or portfolio, of consumer brands. Each of these brands has its own instantly recognizable name, imagery, appeal, and unique and differentiated positioning. Our proprietary consumer brands include Surterra Wellness™, Coral Reefer™, Endless Summer™ and Float™.

"The philosophy behind our collection of brands is that the consumer is at the heart of everything that we do. Because consumers have different needs states across the well-being continuum, each brand is distinct. Yet, all our brands focus on improving the lives of our consumers and reflect our uncompromising commitment to consistency, quality, safety and efficacy," said Wrigley. "Goodblend will simply reinvent what retail can be. Goodblend stores will be welcoming and inclusive of all our consumers and will allow each of our distinct brands a chance to shine – having their own stage under one roof."

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About Parallel

Parallel (formerly Surterra Wellness) is a leading, global company that is pioneering human well-being and improving the quality of lives of humanity through the benefits of cannabinoids. Parallel is one of the fastest growing cannabis companies in the world with vertical operations in Florida, Texas, Nevada, and Massachusetts, a developing international footprint in the European Union (EU), South America and Asia, a global retail brand Goodblend, and a diverse portfolio of high-quality, proprietary consumer brands, including Surterra Wellness, Coral Reefer, Endless Summer, and Float. Parallel's business also includes Massachusetts' New England Treatment Access (NETA), a leading vertical cannabis operation with regional retail dispensaries and consumer brands; Molecular Infusions (Mi), a cannabis based biopharmaceutical company; and Nevada's The Apothecary Shoppe, a vertical cannabis dispensary. Parallel's integrated footprint includes 37 retail dispensaries across the United States (US), including 34 in Florida; almost one million total square feet of cultivation and manufacturing operations across the platform; R&D facilities in Massachusetts, Florida, Budapest, Hungary and Medellin, Colombia; and an exclusive partnership with global biotechnology company Intrexon to drive its science and technology-led innovation. Parallel follows rigorous operations and business practices to ensure the quality, safety, consistency and efficacy of its products and is building a business based on strong values to be the gold standard for the industry.

For more information: www.liveParallel.com.

Media Contact:

Laurie MacKenzie

Sr. Vice President, Corporate Communications

[email protected]

SOURCE Parallel

Related Links

https://www.liveparallel.com/

