The planned sale, which is subject to satisfaction of customary closing conditions, will be undertaken pursuant to Jones Soda’s existing committed equity financing facility with Glengrove.
Jones Soda intends to use the net proceeds from the planned sale for targeted funding of new marketing programmes, to secure and grow larger distributor and national retail accounts, and for working capital and other general corporate purposes.
“We’re pleased to be closing this financing,” said Bill Meissner, Jones Soda’s CEO. “Adding cash to our balance sheet has been one of the top priorities for my team. The added capital will significantly benefit our ability to be more proactive in the retail trade by adding marketing support to aid in the growth of our brands and to expand our distribution reach.”
The securities described above will be sold by Jones Soda pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission.
Source: Jones Soda
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