Jones Soda Co. Sells Mary Jones THC Beverage Brand

Seattle-based Jones Soda Co. has sold its hemp-based THC beverages brand
Mary Jones to MJ Reg Disrupters for $3 million to “streamline operations
and focus on its core soda offerings,” according to a press release.

Jones Soda unveiled its cannabis segment in 2022, launching Mary Jones
first in California and then expanding the brand to other states. The
company’s infused beverages contain hemp-derived delta-9 THC and
cannabidiol (CBD).

MJ Reg Disrupters purchased Mary Jones with an initial June 19 cash payment
of $489,399 plus an additional $2,510,610 via promissory notes over the
next three years.

Jones Soda CEO Scott Harvey called the sale “an important milestone in our
effort to focus our resources on areas where we see the strongest long-term
growth and profitability.”

“We are proud of the innovation behind the Mary Jones brand, but I believe
this divestiture enables us to sharpen our strategic priorities and
accelerate investment in our core soda, functional beverage, and adult
beverage categories.” — Harvey, in a statement

“We are excited about the opportunity to build on the Mary Jones legacy,”
MJ Reg Director Joe Oblas said in the release. “Jones Soda created a unique
and high-quality product, and we are committed to continuing its innovation
and reach.”