Parallel's goodblend Texas To Roll Out First Medical Cannabis Capsules In Texas

Vertically-integrated cannabis company Parallel confirmed Monday that its retail brand goodblend™ Texas will roll out the first cannabis capsules for medical cannabis patients in Texas.

This is the company’s fifth medical cannabis format option under the company’s Surterra Wellness-branded product line, and the fourth original product in the Lone Star State over the last eight months.

The new capsules offer a precise dose of a calibrated level of THC and CBD oil per capsule to patients registered under the Texas Compassionate Use Program. Each child-proof package contains 60 capsules, and is reachable in three terpene blend varieties.

"goodblend is proud to be the first medical cannabis dispensary in Texas to offer medical cannabis capsules to patients across the Lone Star State," Marcus Ruark, President of goodblend Texas said. "The new cannabis capsule format reflects our commitment to innovating our product offerings and enhancing accessibility to help improve the quality of Texans' lives.”

“Capsules have been used for a long-time in medicine, so patients new to cannabis will be familiar with this delivery form. With more people in Texas turning to medical cannabis, we are meeting the needs of our diverse patients by offering a large variety of product options under a brand they know and trust," Ruark added.

Recent activities

The new product launch comes quickly after Parallel revealed it had made a $25 million investment in a new state-of-the-art cannabis cultivation, production and retail facility in San Marcos, Texas. This move is expected to advance the company’s business capacities and enable it to create hundreds of new jobs in the region.

In February, Parallel announced that it plans to go public via a definitive business combination agreement with Ceres Acquisition Corp. CERAF, a special purpose acquisition corporation. The company agreed to be sold for $1.9 billion.

The combined entity will have a $430 million cash balance at closing and net revenues of $447 million in 2021.

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