Jones Soda Co - JSDA STOCK NEWS

Jones Soda (JSDA) has secured a new $5 million revolving credit facility with Two Shore Capital Corp., replacing their previous $2 million facility from May 2024. The funds will be used for working capital to support expected sales growth in modern soda and adult beverage categories in 2025.

The facility bears a 13.75% annual interest rate and is secured by all company assets. As part of the agreement, Jones will issue 750,000 warrants to Two Shores at an exercise price of $0.45 per share with a three-year term, subject to Canadian Securities Exchange approval.

Jones Soda Co. (JSDA) has appointed Scott Harvey as CEO and Brian Meadows as CFO, effective immediately. The appointments aim to implement a strategic plan focused on transforming Jones from a craft soda company into a comprehensive beverage company with profitable growth.

Harvey, former president of Dunn Brothers Coffee with 40 years of industry experience, and Meadows, a seasoned CFO with over 25 years of experience, will lead the company's strategic initiatives. The plan focuses on three key areas: craft soda (emphasizing Jones Minis and zero-sugar versions), modern soda (featuring Pop Jones and Fiesta Jones), and adult beverages (including Spiked Jones and Mary Jones Hemp Delta-9 beverages).

The company recently secured distribution agreements covering 2,000 convenience stores, marking its first significant presence in this channel in its nearly 30-year history.

Jones Soda Co. (JSDA) has secured distribution in nearly 2,000 C-stores, marking its first major convenience channel presence in its 30-year history. The distribution agreements include three product lines: Fiesta Jones (Latin-inspired drinks in 16 oz resealable aluminum bottles), Pop Jones (low-calorie functional sodas in 12 oz slim cans), and classic Jones sodas in glass bottles.

The rollout begins February 2025 across multiple Circle K divisions and other chains, supported by major distributors including Dot Foods, McLane, and Core-Mark. Fiesta Jones, developed specifically for C-stores, features Latin-influenced flavors with 80 calories per bottle. Pop Jones offers 30-calorie functional sodas with added fiber and immune support.

The company is also expanding its Mary Jones cannabis brand into Missouri and growing in the HD9 space.

Jones Soda Co. (JSDA) is expanding its Mary Jones cannabis product line to Missouri, the fifth-largest legal cannabis market in the US, through a partnership with Kansas City-based CLOVR. The initial launch on January 14, 2025, will feature THC-infused sodas in four flavors, with additional varieties planned for Q2. The products include 100mg THC-infused sodas in 16 oz cans, with future additions of 20mg THC sodas, 10mg shooters, and THC-infused syrups.

The expansion follows Mary Jones' success in California, where it won Best Cannabis Soda awards in 2023 and 2024. Missouri's cannabis market has surpassed Colorado in adult-use sales, employs nearly 20,000 people, and generated approximately $238 million in tax revenue in 2024. CLOVR, a premium cannabis product manufacturer, will handle manufacturing and distribution in Missouri.

Jones Soda reported Q3 2024 financial results with revenue of $4.2 million, down from $4.5 million year-over-year. Gross margin decreased to 21.2% from 32.9%. The company recorded a net loss of $2.6 million, or $(0.02) per share. Mary Jones business contributed $800,000 in revenue, up from $220,000 in Q3 2023. Performance was impacted by Canadian distributor transition, loss of a U.S. discount retailer, and slower HD9 distribution network ramp-up. The company raised $3.7 million through private placement, ending Q3 with $2.7 million in cash.

Jones Soda (JSDA) announced the resignation of Joe Culp, Director of Finance and Interim CFO, effective November 4, 2024. The company appointed Ronald Dissinger, a current board director, as Interim CFO while searching for a permanent replacement. Dissinger brings significant financial leadership experience from his role as Senior VP and CFO at Kellogg Company from 2010 to 2017. Paul Norman, Board Chairman and Interim CEO, expressed gratitude for Culp's five years of service and confidence in Dissinger's capabilities during this transition period.

Jones Soda (CSE: JSDA, OTCQB: JSDA) has scheduled its Third Quarter 2024 earnings conference call for Wednesday, November 13, 2024, at 4:30 p.m. ET. The company will release its financial results for the quarter ended September 30, 2024, prior to the call. Chairman and Interim President and CEO Paul Norman will host the conference. The call will be accessible via toll-free and international dial-in numbers, with a replay available until November 27, 2024. A live broadcast and replay will also be available through the company's website.

Jones Soda (JSDA) announced that David Knight has departed as President and CEO, effective October 25, 2024. Board chairman Paul Norman has been appointed as Interim President and CEO. Norman, who joined the board in 2019 and became chairman in 2022, brings over 30 years of consumer products experience, including serving as President of Kellogg's North America from 2015 to 2018. The company has initiated a search for a permanent CEO. Norman expressed commitment to value-creation strategies, efficient operations, and continuing the launch of new brands while the search for a permanent CEO is underway.

Jones Soda (CSE: JSDA, OTCQB: JSDA) has announced its 2024 Advent Calendar featuring 24 days of products and merchandise. The calendar includes full-sized classic beverages and introduces new product lines: Jones Craft Cola, Zero Cola, Jones+ (caffeinated versions), Pop Jones (prebiotic beverage), and Fiesta Jones (Latin-inspired, low-sugar flavors). The package combines traditional Jones sodas with branded merchandise like shirts and beanies. The calendar features whimsical holiday characters and is available for preorder with shipping starting November 1.