A Toronto-based hemp and CBD investment company increased its stake in a traditional soda company with an eye toward developing CBD-infused beverages with the brand.... CBD company ups stake in beverage brand to secure 50-state distribution

A Toronto-based hemp and CBD investment company increased its stake in a traditional soda company with an eye toward developing CBD-infused beverages with the brand.

HeavenlyRx bought 15 million shares in Jones Soda Co. for $9 million and now holds 39% of the Seattle-based beverage manufacturer.

The deal also gives HeavenlyRx two seats on Jones Soda’s board.

Jones Soda is distributed in all 50 U.S. states, including convenience stores, grocery stores and quick-service restaurants, and the purchase gives HeavenlyRx access to those distribution channels, Paul Norman, CEO of the Canadian company, told Hemp Industry Daily.

HeavenlyRx also has an ownership stake in Hemp2o, a beverage company with distribution in the western United States.

Jones Soda trades on over-the-counter markets as JSDA. HeavenlyRx is privately held.

Subscribe to our Newsletter

MJ Shareholders avatar

MJ Shareholders

MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers

No comments so far.

Be first to leave comment below.




( ) ( ) ( ) ( ) ( ) ( ) ( ) ( )