Pegasus terminates merger with Resonate Blends over capital failure

Resonate Blends, Inc.

Pegasus Specialty Vehicles terminated the June 20, 2023 Merger Agreement on December 7, 2023.
Termination cites Resonate's failure to secure the committed $3,000,000 investment for Pegasus.
Resonate also failed to provide capital to repay a $500,000 note with 622 Capital, LLC.
Resonate disagrees with the termination grounds and is in active negotiations to resolve.
The merger would have made Pegasus a wholly-owned subsidiary of Resonate.

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