Resonate Blends, Inc. Issues Letter to Shareholders and Provides Corporate Update

CANNANNEW REPORT

CALABASAS, Calif.–(BUSINESS WIRE)–$KOAN #acquisition–Resonate Blends, Inc. (OTCQB:KOAN), a Wellness Lifestyle cannabis holding company (“Resonate” or “the Company”), today provided a corporate update covering its recently filed Q2 2021 financial report and the advancement of overall operations. A letter to shareholders from Resonate’s Chairman and CEO, Geoff Selzer, follows: Dear Shareholders, 2021 is shaping up to be a fast-paced and foundational year for Resonate Blends as we make significant progress on our strategic objectives. Working closely with industry-leading sales, marketing and logistics partners for our flagship Cordials product line, we have built a multi-channel distribution strategy that we expect will materialize with significant positive results in the back half of this year. Our patent-pending Koan Cordials, the world’s first cannabis-infused cordial, are now available in both Northern and Southern California. Beyond innovation with our products which are built around the idea of “Mastering the Art of Experience”, we are also focusing on a solid foundation of distribution, communication, and education, as we work to normalize cannabis as part of a healthy and engaged lifestyle. To that end, we are adopting a digital native national brand strategy for our Koan product family to ensure that every aspect of our client relationships is carefully managed, providing a specific experience across all platforms and products that is consistent with the development of the brand. Critical to this is our focus on Direct-to-Consumer (D2C) initiatives, which we will be sharing some exciting news about in the coming days. In our Q2 financial report filed on August 18, 2021, we showed an operating loss that is mainly the result of non-cash management fees and increased liabilities that are attributed to non-cash derivative liabilities on our remaining convertible note that was issued through our recent private placement. This note has a mandatory equity conversion and the derivative…

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Source : Resonate Blends, Inc. Issues Letter to Shareholders and Provides Corporate Update

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