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Resonate Blends Restructures its Balance Sheet Through Equity Investment

Written by Customer Service on . Posted in Public Companies.

CALABASAS, Calif., Sept. 21, 2020 (GLOBE NEWSWIRE) — Resonate Blends, Inc. (OTCQB: KOAN) (“Company”), a cannabis holding company centered on valued-added holistic wellness and lifestyle brands, announces today that it has exercised its option to retire a convertible promissory note (“Note”) with Geneva Roth Remark (“Geneva Roth”) and paydown on another Note with FirstFire Global Opportunities Fund, LLC (“FirstFire”) through a new equity investment made by a private shareholder.
The Company originally executed a Note with Geneva Roth for $85,800 on June 18, 2020. On September 18, 2020, the Company made the full principal, interest and prepayment fee to Geneva Roth and retired the Note in its entirety.“We continue the process of restructuring our balance sheet by utilizing our equity to retire and paydown convertible debt. By demonstrating our commitment to strengthening our balance sheet, we believe that we are driving value for our shareholders as we enter the growth phase of our Company,” said Geoffrey Selzer, Chief Executive Officer of Resonate Blends, Inc.The securities mentioned will not be or have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.About Resonate Blends, Inc.Based in Calabasas, California, Resonate Blends, Inc. is a cannabis holding company centered on valued-added holistic wellness and lifestyle brands. The Company’s strategy is to ignite future growth by building a purpose-driven portfolio of research organizations, innovative and emerging brands, and retail channels. The management team has trained with some the best, most successful consumer brands in the world, such as Disney and Pixar Animation Studios. 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 offer a family of premium cannabis-based products of consistent quality based on unique formations calibrated to Resonate Blends effects system, the industry gold standard in user experience.For more information please visit www.resonateblends.comForward-Looking StatementsContact:
David Thielen
Chief Investment Officer
Resonate Blends
(571) 888-0009
david@resonateblends.com
www.resonateblends.com 

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