Parallel Archives

StaffDecember 6, 2023

The Daily Hit is a recap of the top financial news stories for Dec. 6, 2023. On the Site Parallel Stockholders Reject Proposed Restructuring in Billion-Dollar Lawsuit A group of 40 disgruntled Parallel cannabis stockholders filed a lawsuit in the Chancery Court of Delaware rejecting the proposed restructuring of the debt-ridden cannabis company. Read more […]

Adam JacksonOctober 27, 2023

The judgment includes $5.8 million worth of unpaid rent.

Debra BorchardtSeptember 25, 2023

SNDL launched SunStream USA to take over two-thirds of the foreclosed assets.

Adam JacksonAugust 28, 2023

Parallel and IIP once celebrated their collaboration, but the relationship has since soured.

Adam JacksonAugust 14, 2023

Approval of such a plan has proven to be an uphill battle.

Adam JacksonJune 7, 2023

Monday's lawsuit alleges that IIPR violated Maryland law by not investigating previous claims.

Debra BorchardtJune 1, 2023

What does the troubled investment mean for SNDL's future in U.S. cannabis?

StaffJune 30, 2022

Editors Note: This was republished with permission from Crain Chicago and written by John Pletz. The owner of Windy City Cannabis shops wants Beau Wrigley to pay $80 million in damages for a sale that never closed. William “Beau” Wrigley Jr., who is already facing lawsuits over dreams of a marijuana company’s initial public offering that went […]

Debra BorchardtMay 12, 2022

Talladega wants out of the Parallel cannabis lawsuit. This is the lawsuit that disgruntled Surterra Wellness (now known as Parallel) investors filed against the company’s leader beau Wrigley and Surterra Holdings, along with a family office and Talladega LP and Talladega Inc. The company filed a motion earlier this week to dismiss its involvement and […]

Debra BorchardtApril 6, 2022

The debt troubles facing Parallel are exposing the risk to other companies. Innovative Industrial Properties (NYSE: IIPR) gets 10% of its revenues from Parallel and Sundial’s (OTC: SNDL) joint venture with SAF Group called Sunstream Bancorp owns some defaulted debt. In March 2021, Sundial Growers Inc. formed a 50/50 joint venture with SAF Opportunities LP, […]

Lykos Therapeutics Secures $100M in Series A Funding, Rebrands from MAPS PBC

Functional Mushrooms Move Into Mainstream as Wellness Trend Grows

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Tag: Parallel

The Daily Hit: December 6, 2023

Goodblend Ordered to Pay $15.5M, Vacate Pittsburgh Facility

Creditors Foreclose on Assets of SNDL’s Parallel

PA Court Orders Dissolution of Parallel’s Subsidiary Over $5.8M Rent Debt

SNDL Sees Gains From Vice Segments, Will Ring-Fence Skymint and Parallel

Allegations of Ponzi Scheme, Forged Documents Plague Cannabis REIT IIPR

SNDL Hints at Plans for Skymint

Beau Wrigley at Center of Litigation over Failed Chicago Cannabis Deal

Cannabis Lender Talladega Wants Out Of Parallel Cannabis Lawsuit

Sundial Could Be Affected By Parallel’s Debt Defaults

The Daily Hit - TEST TEST TEST

Lykos Therapeutics Secures $100M in Series A Funding, Rebrands from MAPS PBC

Functional Mushrooms Move Into Mainstream as Wellness Trend Grows

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