Resonate Blends Inc (KOAN)

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Resonate Blends Signs LOI to Deliver on its California Manufacturing and Distribution Strategy

8/27/20, 7:30 AM
CALABASAS, Calif., Aug. 27, 2020 (GLOBE NEWSWIRE) -- Resonate Blends, Inc. (OTCQB:KOAN), a cannabis-based holding company (“Resonate” or “the Company”), announced today it has executed a Letter of Intent (LOI) with The Hive Laboratory, LLC (THL), a California licensed Type N – Infused Products Manufacturer based in Grover Beach, CA. THL produces and packages premium award-winning products for the medicinal, recreational and nutraceutical cannabis industries, and has worked with some of the biggest named brands in the industry.

Resonate and THL have agreed to enter into a Master Services Agreement in which THL will manufacture and package Resonate’s first family of products to precise specifications. THL also has a Bureau of Cannabis Control (BCC) issued distribution license in California and will distribute Resonate’s products to retail establishments throughout the state.

THL and Resonate have been in frequent contact throughout Resonate’s development period and THL is prepared to support production of the Company’s unique family of wellness lifestyle products. Resonate’s upcoming first of its kind offerings are emulsified through the advanced infusion technology provided by award-winning Vertosa and collaboratively developed to push the state of the art in its cannabis products.

Resonate’s CEO Geoff Selzer stated, “Our company is committed to mastering every element of a consumer’s product experience. We learned through our experience at Disney and Pixar that making great consumer products requires more than just innovation. They also require solid processes and exceptional partnerships. We selected THL as our manufacturing partner because of their experience with leading, high quality brands, their attention to detail and their strong support for our strategy and dedication to innovation. We share a commitment to excellence and the mission to produce the highest quality wellness products to help individuals live more satisfying, meaningful lives.”

“THL is excited to be working with Resonate Blends and we believe that this product family is truly unique and addresses a very significant unmet market need,” said Sean Yantzer, CEO of THL. “We expect these products to be very successful commercially and we are looking forward to supporting Resonate in the production of these and future products on the Resonate roadmap.”

About Resonate Blends, Inc. (OTCQB:KOAN)