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Thursday, May 26, 2022

Cannabis Firm Hires IR Company

Cannabis holding company Resonate Blends has entered a partnership with investor relations firm MZ Group to implement a capital markets strategy to increase visibility among investors.

MZ provides investor relations and corporate communications services on a global scale. The firm was recently ranked No. 7 in the world in business communication by IR Magazine and has represented more than 750 public companies during its 23 years of service.

“We selected leading investor relations (IR) firm, MZ Group, to help us communicate our progress in a professional, compliant and consistent message to the masses,” David Thielen, chief investment officer of Calabasas-based Resonate, wrote in an email to the Business Journal. “Our new IR relationship with MZ Group provides the professional outreach our shareholders expect from us.”  Brooks Hamilton, MZ North America’s senior vice president, will advise Resonate on corporate and financial communications. The advisory role will include coordination of roadshows and investment conferences in key markets and the promotion of brand awareness with financial media outlets.   The first roadshow for Resonate was held virtually on July 15.  “I happen to think that virtual roadshows are a way more efficient, respectable way to handle these things,” said Resonate Chief Executive Geoffrey Selzer. “So, I think you’re going to be seeing a lot of virtual roadshows from us.”  Resonate and MZ’s visibility campaign will attempt to grab the attention of the wellness market by highlighting the science, technology, process and benefits of Resonate’s first product line, Koan Cordials, which launched this year.

The cordial product line features six blends: Calm, Balance, Create, Play, Delight and Wonder. “These are single-dose, fast-acting, long-lasting, water compatible blends that can be taken alone or poured in a beverage of choice,” wrote Thielen. To support the launch and fund the expansion of the Koan brand, Resonate closed a $3 million private placement earlier this year. The Calabasas company is working with Good People LLC as its sales team, which will introduce the cordials at industry conferences and promotional events.

Shares of Resonate Blends closed July 14 at 45 cents on the over-the-counter market.

Antonio Pequeño IV
Antonio Pequeño IV
Antonio “Tony” Pequeño IV is a reporter covering health care, finance and law for the San Fernando Valley Business Journal. He specializes in reporting on some of the biggest names in the Valley’s biotechnology sector. In addition to his work with the Business Journal, Tony has reported with BuzzFeed News on the unsupervised use of Clearview AI, a controversial facial recognition technology. Tony, who also conducts freelance reporting, graduated from the USC’s Master of Science in Journalism program in 2021. He is in his fifth year as a journalist as of 2021.

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