Weed-Infused Innovator Jones Soda Launches $3M Offering
Jones Soda Co. (OTC:JSDA) announced Wednesday a private placement of up to 7,500,000 units of the company at a price of 40 cents per unit, for a total gross proceeds of $3 million.
The offering comes two months after the company behind Mary Jones marijuana drinks reported its financial results for the first quarter ending March 31, revealing revenue improvement of 39% year-over-year reaching $5 million, from $3.9 million. The quarterly results include approximately $600,000 in revenue from the cannabis business – Mary Jones, compared to approximately $200,000 in the first quarter of 2023.
The Offering Highlights
Each unit will be composed of: one common share in the capital of the company, and one‐half of one detachable share purchase warrant. Each warrant will be exercisable into one common share at a price of 50 cents per share for a period of 24 months from the date of issuance, subject to …