Cannabis investment company SOL Global SOLCF announced Tuesday that it took an 8.19-percent stake in Seattle-based Jones Soda Company JSDA.
What Happened
SOL Global said it acquired 3,396,049 common shares of Jones Soda Co.
SOL Global is an international investment company with a focus on cannabis, CBD, hemp, and cannabis-related companies in the U.S. and the emerging European cannabis market.
The company said it has investment interests across cannabis cultivation, distribution and retail complements.
The Cannabis Capital Conference returns to Toronto April 17-18!
Why it's Important
SOL Global said it sees many future opportunities to maximize shareholder value with Jones Soda and its own position in the cannabis industry.
"Jones Soda has an iconic, retro brand in the soda bottle and fountain beverage sector, and we believe the company's true value will be recognized by the market as its new offerings gain steam," SOL Global Chief Investment Officer Andy DeFrancesco said in a statement.
"It is clear that Jones Soda is committed to being on the front lines of innovative product development while staying true to their iconic brand."
The news is the latest in a series of crossover investments between the beverage and cannabis sectors that include alcohol company Constellation Brands, Inc. STZ's 38-percent stake in Canopy Growth Corp. CGC
What’s Next
Jones Soda over-the-counter shares were rallying 40.43 percent to 66 cents at the time of publication Tuesday, while SOL Global was trading 0.89-percent higher at $2.78.
Related Links:
Cannabis-Infused Beverage Stocks Rip Higher Amid Positive Farm Bill Development
Q&A: SOL Globa's CEO Brady Cobb Chats About The Brave New World Of Cannabis Investing
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.