Resonate Blends, a California-based cannabis wellness lifestyle product company, has announced a binding merger agreement to acquire Pegasus Specialty Vehicles. The move aims to bolster the company’s commitment to sustainable and electric and hydrogen-fueled vehicles technologies.
Pegasus Specialty Vehicles, based in South Carolina, specializes in the customization and production of electric and hydrogen-fueled vehicles, making it a strategic addition to Resonate Blends’ portfolio. The acquisition is expected to strengthen Resonate Blends’ ongoing endeavors to transition towards a hydrogen-based economy.
The partnership is designed to capitalize on Pegasus’s patented conversion system that enables vehicles to run on hydrogen. This technology is perfectly aligned with Resonate Blends’ vision to advance clean energy solutions, promoting both sustainable development and economic growth.
“This acquisition reflects our commitment to pursuing clean, renewable energy sources. We are thrilled to integrate Pegasus’s cutting-edge technology, and leverage their expertise in the hydrogen fuel sector to further our sustainability efforts,” said Geoff Selzer, CEO of Resonate Blends.
Further details on the financial terms of the agreement were not disclosed. The transaction is expected to be finalized subject to customary closing conditions.
About Resonate Blends, Inc. (OTCQB:KOAN)
Resonate Blends is a Calabasas, CA-based portfolio of Cannabis Wellness and Lifestyle brands. The company created the Resonate System—a comprehensive system of interconnected experience targets to personalize consumers’ relationship with Cannabis through its products. Koan Cordials, the world’s first Cannabis Cordial and Resonate’s flagship product line, was awarded the prestigious Gold Leaf Award for “Best New Brand” and a Clio Cannabis award for packaging and design.
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