Ceres Acquisition in a letter to shareholders said it will continue pursuing the completion of a qualifying transaction prior to the March 3, 2022 deadline, unless extended with shareholder approval. The letter follows the mutual termination last week of the SPAC’s merger deal with cannabis operator Parallel. Ceres is backed by record executive Scooter Braun.
“We are confident in our abilities to identify, evaluate, and execute an attractive qualifying transaction by continuing to leverage our network to source a wide spectrum of meaningful investment opportunities,” wrote Ceres CEO Joe Crouthers. “As experienced cannabis investors we feel the opportunity set within the cannabis sector is quite strong and given recent price compression combined with strong growth rates and business execution, the sector should provide investors with meaningful upside in the near future.” Read more.
