Apollo Biowellness, Inc., f/k/a Resonate Blends Announces Management Changes

Rhea-AI Summary

Apollo Biowellness (OTC Pink: KOAN) announced significant management changes as Jim Morrison steps down as President/CEO while remaining on the Board. James W. Zimbler, previously Vice President of Corporate Finance, has been appointed as the new President/CEO.

Zimbler, who joined the company's board in March 2024, brings extensive experience in corporate restructuring and M&A. His primary focus will be on restructuring the company's balance sheet, reducing liabilities, and restoring solvency to facilitate potential merger, acquisition, or sale discussions.

The company plans to expand its Evolutionary Biologics Rx-Med Spa Dermatology Brand through new marketing partnerships with aesthetic distribution companies. Additionally, Apollo Biowellness intends to launch a new direct-to-consumer brand featuring shelf-stabilized biologic cosmetics, targeting TV Shopping and retail cosmetic markets.

Positive

• New CEO brings extensive M&A and corporate restructuring experience
• Plans to expand Evolutionary Biologics brand through new distribution partnerships
• Development of new shelf-stabilized biologic cosmetic product line
• Active pursuit of strategic partnerships and M&A opportunities

Negative

• Company requires balance sheet restructuring and return to solvency
• Significant liabilities requiring reduction through creditor negotiations
• Potential sale of company being considered, indicating possible strategic challenges

North Bergen, New Jersey--(Newsfile Corp. - March 19, 2025) - Apollo Biowellness, Inc. formerly known as Resonate Blends, Inc. (OTC Pink: KOAN) (the "Company") announces that Jim Morrison has stepped down as President/CEO of the Company. He remains a member of the Board. Mr. Morrison's actions do not in any way imply or infer that there is any dispute or disagreement relating to the Company's operations, policies or practices. Mr. Morrison is pursuing other opportunities.

Mr. James W. Zimbler, has been appointed as the new President/CEO of the Company, along with his position as a member of the Board of Directors. Mr. Zimbler was serving as the Company's Vice President of Corporate Finance and a Director since March 2024. Since July 1, 2020; he served as a Director of Emergent Health Corp. ("EMGE") from November 2017 to November 2021. December 2017 until June 2019, he served as President and a director of the predecessor iteration of a public company that is now Enzolytics, Inc., a drug development company. Since October 2024, he is the managing partner of LB Equity Advisors, Inc., a consulting company. In December 2016 he founded Emerging Growth Advisors, Inc., a consulting firm providing advisory services related to mergers and acquisitions for corporations including the Company. Prior to founding LB Equity Advisors, Inc., and Eocine Management Advisors, Inc., Mr. Zimbler served in a managerial role at other consulting firms, each specializing in mergers and acquisitions, roll ups and turn-around work.

Mr. Zimbler's role is to restructure the Company's balance sheet, capital structure and work with creditors and related parties to reduce the liabilities and return the Company to solvency in order to engage in discussions about a merger and/or acquisition or sale.

Mr. Zimbler stated, "Having a quality brand, such as Evolutionary Biologics, under the guidance of Mr. Morrison, which is the Company's Rx-Med Spa Dermatology Brand, we intend to expand into other marketing partnerships to distribute that brand through other aesthetic distribution companies. Secondarily, the Company plans to launch a new brand, geared toward the direct to consumer, TV Shopping and retail cosmetic market, with our newly developed shelf-stabilized biologic cosmetic. With these two brands we are entering into negotiations with various partners, for a possible merger, acquisition and/or sale."

About Apollo Biowellness, Inc. f/k/a Resonate Blends, Inc.

Apollo Biowellness, Inc., and its subsidiary, Evolutionary Biologics, Inc., is engaged 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 as 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
James W. Zimbler
President/CEO/Director
jzimbler@emergenthealthcorp.com
www.emergenthealthcompany.com
631-806-1420

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245174

FAQ

What are the immediate priorities for KOAN's new CEO James Zimbler?

Zimbler's priorities include restructuring the balance sheet, reducing liabilities, restoring solvency, and exploring potential merger, acquisition, or sale opportunities.

What are Apollo Biowellness's (KOAN) expansion plans for 2025?

The company plans to expand its Evolutionary Biologics brand through aesthetic distribution partnerships and launch a new direct-to-consumer biologic cosmetics brand for TV Shopping and retail markets.

Why did Jim Morrison step down as CEO of KOAN?

Morrison stepped down to pursue other opportunities, with no disputes or disagreements regarding company operations, policies, or practices.

What is James Zimbler's background before joining KOAN?

Zimbler has extensive experience in corporate consulting, serving as managing partner of LB Equity Advisors, director at Emergent Health Corp, and president of Enzolytics Inc's predecessor company.