Jones Soda plans to make CBD Soda 1

Jones Soda plans to make CBD Soda

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Original Source: Cannabis Company Buys 25% of Jones Soda
(Photo: Matthew Horwood/Getty Images and Jones Soda)

As of last week, one-fourth of Jones Soda is now owned by Heavenly Rx, a subsidiary of cannabis investment firm SOL Global Investments. As a part of the deal, SOL invested a whopping $9 million to purchase 15 million shares of Jones Soda, giving the Toronto-based firm a 25 percent ownership stake in the company. On top of that, Heavenly Rx/SOL managed to work a warrant into the deal, allowing them to purchase an additional 20 percent stake. SOL Global itself bought 10 percent of the soda company earlier this year.

As revealed in a press release announcing the deal, Jones plans to use the new cash infusion to research and develop sodas and beverages infused with cannabidiol, or CBD — the non-psychoactive compound from cannabis plants that’s become a trendy go-to solution to remedy pain, inflammation, and anxiety, amongst other health issues.

In addition to developing the soda line’s new CBD-based offerings, the company promises to use it in part to help tweak their current offerings and build the overall brand up with refreshed marketing efforts.

“Completing this funding with a strategic partner that has vast experience in the retail industry is a significant step forward for Jones Soda,” Jones Soda chief Jennifer Cue said in a statement. “We believe that HeavenlyRx seeking out the Jones brand is a testament to our unique beverages that resonate well with consumers, and we expect their involvement will help accelerate future C.B.D.-infused beverage brand development.”

“We also believe this partnership will further bolster our product portfolio and significantly expand the network in which we sell our products, while maintaining the independent, rebellious and fun brand image that customers have come to love.”

HeavenlyRX also got two seats on the board at Jones, one of which will go to executive Paul Norman, a former 30-year chief at Kellogg Co.

“It’s a fabulous brand,” Norman told CNN Business. “It’s rebellious. It’s got a great history behind it.”

It has yet to been what timetable Jones has on bringing CBD-infused sodas to market or what regulatory hurdles the company would have to clear with the United States Food and Drug Administration.

What’s your favorite flavor of Jones Soda? Share your thoughts in the comments below!

This article was republished on CBDNewsFeed.com from the original article, Cannabis Company Buys 25% of Jones Soda, which was originally published on 2019-07-17 16:11:15 (based on the date that was listed on the original article at the time it was republished). We shared this article on CBDNewsFeed.com because our editorial staff believed that its context was useful and helpful to our readers. If you have any questions regarding this article, please email us at .

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Read the original article at Cannabis Company Buys 25% of Jones Soda

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