Resonate Blends issues $600K convertible note to AJB Capital; receives $526.5K net

Resonate Blends, Inc.

Convertible promissory note issued for $600K principal; net proceeds $526.5K after OID and fees.
Note bears 12% interest, matures in six months (extendable to 12 months at 15%).
Conversion price set at lower of 20-day VWAP at issuance or conversion date.
Issued 5.57M commitment shares (3M returnable) and warrant for 1M shares at $0.25.
Investor gets right of first refusal on future offerings; restrictions on variable rate debt below $0.07.

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