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BRIEF-Parallel And Ceres Acquisition Corp Announce Merger To Create A Publicly Traded U.S. Cannabis Well-Being Company

Published 2021-02-22, 07:32 a/m
© Reuters.

Feb 22 (Reuters) - Ceres Acquisition Corp CEREu.NLB :

* PARALLEL AND CERES ACQUISITION CORP. ANNOUNCE BUSINESS COMBINATION TO CREATE A PUBLICLY TRADED U.S. CANNABIS WELL-BEING COMPANY

* CERES ACQUISITION CORP - BEAU WRIGLEY REMAINING AS CHAIRMAN AND CEO AND CERES GROUP HOLDINGS' SCOOTER BRAUN TO SERVE AS A SPECIAL ADVISOR

* CERES ACQUISITION CORP - CERES ACQUISITION CORP.'S CEO JOE CROUTHERS TO BECOME A DIRECTOR OF COMBINED PUBLIC COMPANY

* CERES ACQUISITION CORP - COMBINED PUBLICLY LISTED COMPANY IS ANTICIPATED TO HAVE CLASS A SUBORDINATE VOTING STOCK AND CLASS B MULTIPLE VOTING STOCK

* CERES ACQUISITION CORP -CLASS B MULTIPLE VOTING STOCK WILL HAVE 15 VOTES PER SHARE, WILL BE HELD BY BEAU WRIGLEY AND HIS AFFILIATE ENTITIES UPON CLOSE

* CERES ACQUISITION CORP - CLASS A SUBORDINATE VOTING STOCK WILL HAVE ONE VOTE PER SHARE, WILL BE PUBLICLY TRADED CLASS OF STOCK UPON CLOSING

* CERES ACQUISITION CORP - COMBINED PUBLIC COMPANY HAS AN ADDITIONAL SLATE OF 4 INDEPENDENT DIRECTORS

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