KOAN Resonate Blends, Inc. Announces Q1 Launch For Its KOAN Cordials Product Line
12/17/20, 7:36 AM
The Company Adds Top California Cannabis Strategist Gaynell Rogers to Advisory Board
CALABASAS, Calif.--(BUSINESS WIRE)-- Resonate Blends, Inc. (OTCQB:KOAN), a cannabis-based holding company (“Resonate” or “the Company”), today provides an update to shareholders on several topics relating to the launch of its first value-added Cannabis Brand with the industry’s first line of THC-based Koan Cordials.
Dear Shareholders,
We are pleased to announce we have begun the process of executing on the launch of our innovative Koan Cordials (www.koan.life), which will ship in first quarter of next year. KOAN® is the brand name for our first family of cannabis products targeting the Wellness Lifestyle market.
Our tagline is “Mastering the Art of Experience,” which is our goal across our entire line of products starting with our first 6 cannabis experience-based Cordial products. Cordials are uniquely formulated, single serving precisely targeted experiences that are directly ingested or mixed with a drink of your choice for use in social or private settings. We were always looking for a product like this, and we could never find it - so we made it.
Everything from ordering inventory, opening up distribution channels and final preparation for our marketing efforts are now underway. We believe value-added brands focused on experience targets represent the greatest market opportunity in the maturing cannabis market. Our mission is to demystify and normalize cannabis use through innovative products built around the healing powers of plant medicine. Cordials are the first in a family of products designed around our unique Resonate System---the heart of our product development process.
We are in early discussions to license our products in two other cannabis friendly states, and we hope to have further updates on this new potential revenue stream once we launch our Cordials in California.
The Company’s 506(c) Offering
The early success of our 506(c) offering has provided sufficient capital for our launch. We will continue to raise capital through our placement agent and plan to use additional offering proceeds to improve our balance sheet and provide growth capital.
Highlights Since our Last Update:
The Company has signed and announced definitive agreements with various partners to execute on our overall business strategy. Our partner Vertosa is expected to develop our unique formulations through its advanced nano-emulsification process, the Hive Laboratory is expected to assemble, package and distribute our products and Way To Blue is expected to actively market and deliver social media channels to the California market.
Our team is experienced and strong across all disciplines of the organization. We are pleased to announce Gaynell Rogers has joined Resonate on our Advisory Board responsible for strategic outreach with key influencers, creative distribution initiatives and fundraising opportunities through her extensive network. Gaynell is a pioneer in the California cannabis community. As a trusted, established source for major U.S. and international media networks, Gaynell has propelled numerous cannabis companies into the spotlight. She secured angel investment network The Arcview Group feature cover stories in Fortune, as well as instituted first national exposure for many of their new member brands including Medicine Man Technologies, New West Summit, Dixie, and Poseidon Asset Management. As head of Media Relations & Management for Harborside (California’s most noted cannabis retailer voted “best dispensary in the state”), she helped its visionary founder Steve DeAngelo gain national notice through first-time front page coverage in major dailies such as The New York Times and The Washington Post. Quality individuals create great organizations, and we are fortunate to have such a talented and extraordinary team.
We believe our product roadmap is set for the next three years. We anticipate introducing a new product segment every 6 to 8 months built around our proprietary Resonate System. Since we’ve already developed a Body of Knowledge around our Cordials, we can take this knowledge base and apply it to new products seamlessly without having to start from scratch. We believe that new revenue streams through product development and licensing may improve our financial health and enhance shareholder value.
We will soon announce our digital native marketing strategy and an e-commerce storefront. Home delivery of cannabis products is taking hold in California due to COVID and consumer preference. Adopting a digital native strategy from the outset is ideal for our target market and provides a marketing and sales infrastructure that we believe is easily portable to other legal states. To support launch and expansion, we have also targeted top-end dispensaries in California who specialize in Wellness Lifestyle products and education. Finally, we are receiving interest in preorders from our distributors, targeted dispensaries and a subscription service company.
In September, we retired our second Geneva Roth Remark note and paid down a significant amount of the FirstFire Global Opportunities Fund amortized payment note.
As always, we are grateful for our shareholders’ support and patience as we continue the process toward focusing our operations on revenue generation. We expect to be in contact shortly to provide further updates and insight into our operational progress.
Stay safe, stay healthy.
Geoff Selzer
Chairman & CEO Resonate Blends
