Resonate Blends Inc Stock Price, News & Analysis

Resonate Blends, Inc. (OTCQB:KOAN) has announced its plan to acquire Iron Summit Distribution, Inc. (Kaneh Co.), specializing in gourmet cannabis edibles. The transaction is expected to close in early October 2022, pending definitive agreements and corporate approvals. Iron Summit generated over $3 million in revenue in 2021 and offers a state-of-the-art kitchen to enhance product innovation. The acquisition aims to expand Resonate's product line and manufacturing capabilities, contributing to its growth strategy and revenue increase through 2023.

Resonate Blends, Inc. (OTCQB:KOAN) announced a corporate update regarding its Q2 2022 financial report and operational advancements. The cannabis market, particularly in California, has faced challenges, but Resonate is focused on increasing revenues through product innovation and strategic acquisitions. The company is set to launch lower-cost multi-serve packages and the Sleep Cordial. Additionally, a new partnership with Nabis, California's largest distributor, aims to enhance sales. Resonate plans to leverage a robust infrastructure for growth in the cannabis wellness sector.

Resonate Blends, Inc. (OTCQB:KOAN) has announced new packaging configurations for its award-winning Koan Cordials aimed at increasing consumer demand. The updated offerings include 10-serving bottles and 4-packs that lower the cost per serving and provide customizable options for users. CEO Geoff Selzer stated that these initiatives reflect the company's commitment to innovation in the cannabis wellness sector. Additionally, an 8-K filing revealed a debt reduction of nearly $2 million due to the conversion of 8% convertible notes, enhancing financial clarity for future expansion.

Resonate Blends, Inc. (OTCQB:KOAN) announces that its product, Koan Cordials, will be featured at West Hollywood's The Artist Tree Studio Cannabis Lounge, the only licensed cannabis consumption lounge in Los Angeles. This partnership offers a unique interactive experience with music performances and curated cannabis experiences. Guests can enjoy various Koan Cordials that enhance their mood along with food options. Resonate's CEO, Geoff Selzer, emphasizes the innovative nature of this partnership and anticipates significant engagement in the entertainment space.

Resonate Blends, Inc. (OTCQB:KOAN) has partnered with Nabis for statewide distribution of its Koan Cordials across California. Nabis supports over 1,300 licensed dispensaries and boasts a 97% on-time delivery rating. The Koan Cordials now feature seven unique blends, catering to different desired effects, and are available in discreet single-serving mini bottles. CEO Geoff Selzer emphasized that this partnership enhances their retail strategy by providing rapid delivery and better brand visibility in the extensive Nabis network.

Resonate Blends, Inc. (OTCQB:KOAN) recently released its Annual 2021 10-K report, highlighting both challenges and achievements in the cannabis sector. Despite facing pandemic-related hurdles and disappointing sales performance, Resonate is optimistic about future growth opportunities. The Koan brand received accolades and product development is underway, including a lower-priced Cordials version. Non-cash expenses related to prior funding affected their financials significantly. The company aims to enhance sales via direct-to-consumer strategies and is considering acquisitions to boost its portfolio.

Resonate Blends, Inc. (OTCQB:KOAN) has expanded its retail network in California by partnering with three renowned dispensaries: Cornerstone Wellness, Atrium, and Canni Delivery. This move aims to target wellness-focused customers and enhance brand awareness of the Koan product line. The company is also collaborating with LEAF.VIP to provide budtender training, facilitating better consumer education. Additionally, upcoming product launches have been positively received, with a new cost-saving multi-serve bottle and a unique edible product line that aims to broaden the market presence.

Resonate Blends (OTCQB:KOAN) is launching a new line of edibles that will complement its award-winning Koan Cordials, set for release in summer 2022. These edibles promise a controlled experience and consistency, leveraging the company's research and development in cannabis formulations. The company will also introduce a multi-serving Koan Cordial bottle, reducing costs by 60%. The upcoming Sleep Cordial addresses high demand in the wellness sector. Resonate aims to innovate within the cannabis market, enhancing product experiences through targeted formulations.

Resonate Blends, Inc. (OTCQB:KOAN) has successfully closed a $500,000 bridge funding round, with an additional $250,000 committed. This funding aims to enhance innovation in their Cordial product line, launching new formulations 'Love' and 'Sleep' in early 2022. The proceeds will facilitate a single-package offering for eight blends, cut serving costs by 60%, and support expansion into new states and M&A opportunities. The company is also investing in its sales team to boost brand awareness in California.