Resonate Blends : Definitive Agreement Dated June 20, 2023 Termination Notice - Form 8-K
December 13, 2023 at 05:32 pm
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Definitive Agreement Dated June 20, 2023
Termination Notice
Dear Mr. Selzer:
We regret to inform you that Pegasus Specialty Vehicles, LLC ("Pegasus") is submitting this Termination Notice to Resonate Blends, Inc. ("Resonate") to immediately terminate the Definitive Agreement (the "Agreement") signed between both parties on June 20, 2023. Each of the foregoing parties shall be referred to herein as "Party" and collectively as the "Parties."
The reason for the termination of the Agreement dated on June 20, 2023, is as follows:
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On June 19, 2023, the Parties signed a '60-day Note' with 622 Capital, LLC for a $500,000 (USO) investment into Pegasus.
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The Executed '60-day Note' triggered signing of the Agreement, dated June 20, 2023, by both Parties, with Resonate's commitment to secure $3,000,000 (USO) in new investment capital for Pegasus (as stated in the Agreement).
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Resonate was and continues to be unsuccessful in securing the full amount of $3,000,000 (USO) in new capital, but also has been unable to secure the required capital (purpose designated/allocated capital) for Pegasus to fulfill repayment of the '60-day Note" with 622 Capital, LLC in the timeframe stipulated in the Note.
Therefore, we are terminating the Agreement, effective immediately. Please reference the 8-K issued by Resonate on June 23, 2023. lnline XBRL Viewer
Best Regards
Pegasus Specialty Vehicles,LLC
PEGASUS SPECIALTY VEHICLES 211 West Geneva St. Dunkirk, OH 45836
Resonate Blends Inc. published this content on 13 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 December 2023 22:31:41 UTC.
Resonate Blends, Inc. is a cannabis holding company. The Company, through its subsidiary, Resonate Blends LLC, offers wellness and lifestyle brands, which are built on a system of experiential targets. The Companyâs products include Calm, Wonder, Love, Create, Play, Delight and Sleep. Its products are emulsified, water-soluble, single-dose formulas that can be used privately or shared socially. These products can be taken directly from the bottle or poured into beverages. Its Calm product consists of Cannabidiol (CBD) along with Tetrahydrocannabinol (THC). Its Wonder product consists of THC. Its Create product is formulated with a blend of terpenes and THC. Its Play product helps people to become fully immersed in the moment and the people around them. The Company also operates an intellectual property (IP) subsidiary, namely Entourage Labs LLC.
RESONATE BLENDS, INC. 
