Jones Soda Archives - Green Market Report

StaffNovember 3, 2022
daily_hit001.png?fit=1200%2C344&ssl=1

3min7280

The Daily Hit is a recap of cannabis business news for Nov. 3, 2022.

ON THE SITE

Report: New York State Cannabis Fund Managers Have Conflicts of Interest

New York’s vaunted $200 million fund to support social equity cannabis companies with real estate has an apparent ethics problem: The two individuals appointed to lead the fund are already in business with California-based marijuana company Cookies. Read more here.

Jones Soda Plans Further Expansion Into Cannabis

Following on the success of its limited cannabis product launch, craft soda maker Jones Soda Co. (CSE: JSDA) (OTCQB: JSDA) said it plans to continue expanding that product line to “further establish our standing in the cannabis space.” Read more here.

Swedish Attorney to Sue Social, News Media for JuicyFields Scam

Swedish attorney Lars Olofsson said he will file a class action lawsuit against several social and news media platforms that he said helped facilitate the massive Ponzi scheme run by cannabis investment platform JuicyFields. “All of them have allowed JuicyFields to expose themselves on their platforms or magazines, and not just normal accounts but paid ads.” Read more here.

TREES to Acquire Green Man Cannabis for $6.7 Million

Denver-based TREES Corp. (OTCQB: CANN) agreed to acquire GMC LLC, which operates as Green Man Cannabis Dispensary, also located in Denver, for $6.7 million in cash and stock. The purchase brings TREES’ dispensary footprint to eight stores in two states. Read more here.

IN OTHER NEWS

Delaware

The founders of a California cannabis business startup sued an investor group in Delaware Chancery Court on Wednesday, accusing the investors of misrepresenting their experience in developing cannabis production facilities and intentionally withholding cash as a way to seize control. Read more here.

Halloween sales

Software provider Akerna (Nasdaq: KERN) announced that U.S. cannabis shoppers spent a total of $249.6 million on adult-use and medical cannabis products during this year’s Halloween weekend, reflecting year-over-year growth in excess of 6%. Read more here.


William SumnerJuly 25, 2019
agreement-3489902_640.jpg?fit=640%2C374&ssl=1

3min2420

The hemp-CBD company Heavenly Rx Ltd. announced today that it has closed its acquisition of Tru Brands Inc. Tru Brands is a health and wellness company focused on developing a suite of all-natural food products. Under the agreement, Heavenly Rx will acquire a 51% stake in Tru Brands for $3.5 million in cash and $2.57 million in company stock. Through a series of working capital injections, the company will eventually increase its stake in Tru Brands to 62%.

“The combination of the growing consumer demand for plant-based solutions with CBD wellness make TRU Brands’ current offering [TRUWOMEN®] and their pipeline of innovation a perfect fit for HeavenlyRx. We look forward to bringing CBD to TRUWOMEN® products and their pipeline of new innovation in the near future,” said HeavenlyRx CEO, Paul Norman.

In recent months, Heavenly Rx has made a series of strategic investments in wellness companies and big-name brands. Earlier this month, the company announced that it would acquire Airganics, a health company focused on developing high-performance wellness products. Airganics owns several brands, including MOXE, an aromatherapy diffuser that will include a CBD line later this year; Nutriair, an inhalable nutrient delivery service; and ENVY HEMP, which offs hemp-based tinctures, capsules, vapes, and energy shots.

The company also generated headlines when news broke that Heavenly Rx acquired a 25% stake in the Seattle-based soda company Jones Soda for $9 million. According to Food Business News, Jones Soda plans on using the investment to grow “its existing beverage portfolio,” which potentially includes the development of CBD-infused beverages.

“Completing this funding with a strategic partner that has vast experience in the retail industry is a significant step forward for Jones Soda,” said Jones Soda CEO, Jennifer Cue. “We believe that Heavenly Rx seeking out the Jones brand is a testament to our unique beverages that resonate well with consumers, and we expect their involvement will help accelerate future C.B.D.-infused beverage brand development.”


Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 19 mins

Florida Medical Cannabis to Launch New Licensing Round, First Expansion Since 2017

@GreenMarketRpt – 27 mins

High Times Could End up With Chicago Lawyer Stephen Kunkle

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.