Jones Soda Sells Cannabis Beverage Business

SEATTLE – Jones Soda Co., a craft beverage company, sold its cannabis
beverage business, including all related cannabis-specific assets under the
Mary Jones brand, to MJ Reg Disrupters LLC, a privately held company in a
$3-million cash-and-note deal.

Terms of the transaction included $489,399 in cash paid on the June 19
closing date plus $2,510,601 in the form of a promissory note with the
following payment schedule: $510,601 due on June 27, $500,000 due on June
19, 2026, $750,000 on June 19, 2027, and $750,000 on June 19, 2028.

As part of the transaction, the company and MJ Reg entered into a
multi-year exclusive and non-transferrable trademark licensing agreement
dated June 19, 2025, under which MJ Reg will have the right to use the Mary
Jones brand name in any consumable product containing an emulsion derived
from the marijuana plant with tetrahydrocannabinol (THC), in exchange for
an annual licensing fee of $150,000 payable on the one-year anniversary of
the effective date and $225,000 on each subsequent anniversary. Assuming a
ten-year term, the total amounts due to Jones Soda Co. would be $2,175,000.

The transaction is part of Jones’ strategy to streamline operations and
focus on its core soda offerings, modern functional beverages, and emerging
adult beverage category.

“The sale of the cannabis beverage business marks an important milestone in
our effort to focus our resources on areas where we see the strongest
long-term growth and profitability,” said Jones CEO Scott Harvey. “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.”

According to Joe Oblas, director of MJ Reg, “We are excited about the
opportunity to build on the Mary Jones legacy and bring it to more
consumers in the evolving cannabis beverage market. Jones Soda created a
unique and high-quality product, and we are committed to continuing its
innovation and reach.”