Jones Soda Sells Cannabis Beverage Business To MJ Reg For $3 Mln

(RTTNews) - Jones Soda Co. (JSDA), Monday announced that it has divested its cannabis beverage business, including all related cannabis-specific assets under the Mary Jones™ brand, to MJ Reg Disrupters LLC.

As per the terms of the deal, the company sold the business to MJ Reg for $3 million, comprising of about $489,000 in cash, and the remaining in form of a promissory note with fixed payment schedules.

Following this deal, the Seattle-based company intends to focus on areas with the strongest long-term growth and profitability potential. Additionally, it would help the company to boost investments in core soda, functional beverage, and adult beverage categories.

Friday, JSDA closed at $0.18, up 2.21 percent on the OTC Markets.