Parallel Separates the Chairman and CEO Roles

CANNANNEW REPORT

Beau Wrigley to remain Company’s Chairman of the Board of Directors; James Whitcomb, Chief Development Officer, to rise to CEO Role ATLANTA and WEST PALM BEACH, Fla., Nov. 16, 2021 /PRNewswire/ — Parallel (the “Company”), a leading private, multi-state cannabis company, today announces that James Whitcomb, the Company’s Chief Development Officer and an early founder, has been elected with unanimous support of, and approval by the Company’s Board of Directors to the CEO role, effective this Friday. Beau Wrigley, current Chief Executive Officer, has made the decision to remain actively involved in the Company with a concentrated focus as Parallel’s Chairman of the Board of Directors and as a significant and long-term investor in the Company. 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 has ongoing operations in five medical and adult-use markets under the retail brands of Surterra Wellness in Florida; goodblend in Texas and in Pennsylvania; New England Treatment Access (NETA) in Massachusetts, and a joint venture with Cookie’s retail brand in Nevada. It will add a sixth market upon the pending regulatory approval of the planned acquisition of six Windy City Cannabis licenses in Illinois. Parallel has a diverse portfolio of high quality, proprietary and licensed consumer brands and products including Surterra Wellness, Coral Reefer, Float and Heights offered through its retail wholesale business. Parallel operates approximately 50 locations nationwide, including 44 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…

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