After investing $9 million in the Seattle-based beverage company, HeavenlyRx now owns 25 per cent of the company shares for Jones Soda, as per the recent announcement.
Jones Soda announced that in addition to the 15 million shares, the deal comes with two designated seats on the Jones Soda Board of Directors. HeavenlyRx will fill one of those seats with Paul Norman, industry veteran and former president of Kellogg North America Co. Norman is now the CEO and chairman of the Toronto-based cannabis company.
— ComicBook NOW! July 18, 2019“We believe that HeavenlyRx 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 CBD-infused beverage brand development,” said Jennifer Cue, CEO of Jones Soda.