Resonate Blends, Inc. announced that it has entered into a securities purchase agreement for a private placement of a senior non-convertible promissory note due in the aggregate original principal amount of up to $575,000; for gross proceeds of up to $488,750 on June 20, 2023. The Note will be sold at an original issue discount of 15%. The maturity date for repayment of the Parent Note is September 20, 2023 and the Parent Note bears interest at 15% per annum starting 60 days after issuance and interest payable in cash monthly thereafter.

Parent may prepay the Parent Note at any time, but if Parent repays the Parent Note after 60 days, it is required to pay a premium of 104% of the principal amount. The company will issue securities pursuant to exemption provided under Regulation D.