CALABASAS, Calif.--(BUSINESS WIRE)--Resonate Blends, Inc. (OTCQB:KOAN), a cannabis-based holding company (“Resonate” or “the Company”), announced today that based on an anticipated over-subscription to its Private Placement Memorandum (“PPM”), it has raised the maximum fundraising goal from $1.5M to $3M. The company has already secured in excess of $1.15 million through a combination of PPM subscribers and Promissory Notes and continues to raise capital at an encouraging pace.
Since management has taken operational control following the merger with Textmunication, Resonate’s new capital funding is intended to support operations and to restructure and retire previous Textmunication debt. Resonate announced its PPM through a Regulation D 506(b) offering. Recent PPM investors include senior executives from multi-billion asset management companies.
“We believe that Resonate’s experienced leadership team and innovative proprietary branded product development strategy is the driving force behind this interest.” said Geoffrey Selzer, Resonate’s CEO. “Our dedicated focus on delivering targeted cannabis plant based products for the Wellness market, Cannabis being categorized as “essential” in many states, increasing sales of cannabis during lock-down - as well as our ongoing commitment to help our military Veterans suffering from PTSD, are additional reasons for the increased interest in our PPM.”
About Resonate Blends, Inc. (OTCQB:KOAN)
Based in Calabasas, California, Resonate Blends, Inc. is a cannabis holding company centered on valued-added holistic Wellness and Lifestyle brands. The company strategy is to ignite future growth by building a purpose-driven portfolio of research organizations, innovative technologies and emerging brands. The holding company’s focus is finding mutual value between product and consumer by optimizing quality, supply chain resources and financial performance. The Company will soon offer a family of premium cannabis-based products of consistent quality based on its proprietary formations calibrated to Resonate Blends effects system, the industry gold standard in 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 Resonate Blends’ 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 Resonate Blends’ 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.