Apollo Biowellness f/k/a Resonate Blends Has Engaged LB Equity Health and Wellness Fund, a Division of The Lucas Group
Apollo Biowellness, Inc. (OTC Pink: KOAN) has announced a significant development in its financial strategy. The company has engaged LB Equity Health and Wellness Fund, a division of The Lucas Group, for a potential investment of up to $5 million. This investment is based on a $32 million pre-money valuation into preferred equity.
LB Equity, led by Jay Lucas, a former founding Partner at Bain Capital, focuses on emerging brands in the beauty and personal care sectors. As part of this engagement, Jay Lucas will join Apollo Biowellness's Board of Directors and serve as a Financial Advisor.
CEO Jim Morrison expressed enthusiasm about the collaboration, highlighting the potential for expanded marketing and product development. The company has also filed to change its name from Resonate Blends to Apollo Biowellness, Inc.
- Potential investment of up to $5 million from LB Equity Health and Wellness Fund
- $32 million pre-money valuation for the company
- Jay Lucas, former Bain Capital partner, joining the Board of Directors
- Engagement with LB Equity may enhance marketing and product development capabilities
- None.
North Bergen, New Jersey--(Newsfile Corp. - July 18, 2024) - Apollo Biowellness, Inc. (OTC Pink: KOAN) (the "Company") is pleased to announce that it has engaged LB Equity Health and Wellness Fund, a division of The Lucas Group for an investment of up to
LB Equity Health and Wellens Fund ("LB Equity"), a division of The Lucas Group, (https://www.lbequity.com) is an investment firm focused on emerging brands in the beauty and personal care sectors.
LB Equity is run by Jay Lucas, formerly a founding Partner at Bain Capital. After leaving Baid Capital he then founded The Lucas Group, where he serves as Chairman. The Lucas Group is focused on the specialized needs of private equity investors and their portfolio companies and has extensive experience in the biologics and health care industries.
Jay Lucas will also join the Bord of Directors and serve on the Company's Financial Advisor.
Jim Morrison, CEO and President of the Company stated, "I am excited to work with Jay Lucas and LB Equity. Our combined experience and expertise will allow the Company to expand its marketing and product development."
The Company recently filed a Schedule 14C with the Securities and Exchange Commission to effectuate a name change to Apollo Biowellness, Inc.
About LB Equity
LB Equity is led by Jay Lucas, a former partner at Bain & Company, Karen Ballou, a highly experienced beauty industry professional (Redken and Elizabeth Arden) and Jim Morrison, who served as President of L'Oreal U.S. for nearly 10 years. The extended team consists of strategy and investment professionals along with an advisory group of veteran industry executives across core value creation disciplines. Prior to Standard Dose and the latest Fund, LBE has completed investments in ten additional beauty and personal care brands, including MD Complete, Marula Pure Oil, Immunocologie and Blamtastic among others.
About Apollo Biowellness, Inc. f/k/a Resonate Blends, Inc.
Apollo Biowellness engages in the discovery, development and marketing of products designed to better mankind. We believe we are positioning our company as a leader in the field of Regenerative Medicine defined by the National Institute of Health using biologic based products. Intended products are to be marketed under third-party label exemptions. We are focusing our current efforts on marketing licensed patent-pending natural stem cell mobilizing agents capable of enhancing each individual's ability to mobilize their own adult stem cells from their bone marrow. Also, we are licensed under a patent-pending application to market a dual acting all-natural diet aid designed to help control hunger through normal body signals to the brain and stomach. Products are being developed for consumer and professional markets.
Before using any of our products, you should always consult with your veterinarian and/or family doctor.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our product development programs and any other statements that are not historical facts. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from management's current expectations include those risks and uncertainties relating to our ability to raise capital, the regulatory approval process, the development, testing, production and marketing of our drug candidates, patent and intellectual property matters and strategic agreements and relationships. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law. A complete discussion of the risks and uncertainties that may affect the Company's business, including the business of any of its subsidiaries, is included in "Risk Factors" in the Company's most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.
Corporate Contact
Jim Morrison
CEO/Director
jmorrison@evolutionarybiologics.com
www.emergenthealthcompany.com
203-253-9191
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216857
FAQ
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