CALABASAS, Calif.--(BUSINESS WIRE)--Textmunication Holdings, Inc. (OTCQB:TXHD), a cannabis/hemp based holding company (“the Company”), announced today it has made an investment in Joiant (formerly known as Prism Blends), California’s number one CBD pre-roll brand. On November 26, 2019, the parties signed a Memorandum of Understanding (MOU), a SAFE agreement (Simple Agreement for Future Equity) and the Company made an initial down payment as the first step toward providing the Company the rights to acquire 100% of Joiant within 120 days.
The Company is building a premium cannabis/hemp based holding company by acquiring and incubating innovative companies focused on unique products, technologies and services in the Wellness Lifestyle sector. The Company acquired Resonate Blends in late October to build a foundation for developing trusted brands of consistent quality built on a proprietary system of experiential targets.
Data firm BDS Analytics named Joiant/Prism the number one CBD pre-roll brand in California for 2018. Joiant has been providing a full spectrum of innovative CBD:THC blended products to California patients and consumers since 2016. The California-based company was founded by former Kiva Confections brand ambassador Lindsey Kirk.
Ms. Kirk has compiled a strong management team which includes Jon Kraft as CEO. Mr. Kraft previously served as Co-founder and CEO of Pandora Media, the largest online radio product in the world with over 150 million registered users in the U.S.
The Company feels the distribution and supply chain infrastructure already established by Joiant will assist in the upcoming launch of Resonate Blend’s products in Q1-2020. The Company targeted Joiant as an ideal acquisition partner because Joiant’s brand philosophy is complementary with Resonate’s and their high quality, effects-focused product line aligns nicely with the Resonate System. The Joiant acquisition strengthens and builds Resonate Blends by extending both the product lines and supply chains.
The Company has also filed an Issuer Company-Related Notification Form with the Financial Industry Regulatory Authority, Inc. (FINRA) to effect a name change and a corresponding ticker symbol change to better reflect the focus of the holding company.
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Joiant specializes in the production of innovative cannabis/hemp products. The company is passionate about these plants. Their ability to heal, inspire and connect is the driving force behind Joiant’s CBD and THC pre-roll blends. From non-psychoactive, restorative blends to those with creative, stimulating effects, Joiant's products are crafted to enhance every spectrum of life.
Joiant only selects and uses organically grown, whole plant, lab-certified cannabis.. The unique blends provide a subtle, relaxing experience for consumers who care about their health and wellness, and appreciate the convenient, fast-acting relief of inhaled cannabis. Visit at: www.joiant.com
About Textmunication Holdings, Inc.
Based in Silicon Valley, Textmunication Holdings Inc. is now a cannabis/hemp based holding company centered on a vertically integrated and valued-added Wellness and Lifestyle brand. The holding company’s growth strategy, supported by its new management team, is developing and acquiring the highest quality products, cultivation, technology, retail and supply chain resources to optimize financial performance and assure the highest standard of quality control. The Resonate team will soon announce its luxury cannabis-based Wellness and Lifestyle family of products that offers consistent quality and unique formulations that support the Company’s commitment to clarify the user experience.
For more information: www.resonateblends.com
Safe Harbor Provision:
Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Textmunication Holdings’ current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Textmunication Holdings’ filings with the Securities and Exchange Commission. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and any document referred to in this press release.