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Jones soda acquired a Canadian company to raise $11 million for marijuana drinks

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Jones soda, a maker of processed drinks, acquired a Canadian shell company and raised $11 million as part of the development of cannabis products. President and CEO Mark Murray said the proceeds "will be used to develop the company's planned marijuana beverage and food business line". According to the documents submitted to the securities and Exchange Commission in October, Jones, headquartered in Seattle, may produce drinks containing THC and CBD. Pinestar gold, a Canadian shell company acquired by Jones, was previously a mineral exploration company. Jones plans to list its Canadian shares on the Canadian stock exchange with approval. Jones' US shares are traded on the US OTC market in the name of JSDA.


Information source: mjbizdaily.com