It’s common these days to hear about a food or beverage company investing in cannabis. It’s more unusual for a cannabis company to, say, snap up a soda brand.
In recent months, an emerging cannabis firm has quickly acquired a significant position in Jones Soda (JSDA) with an eye on bringing the wild child of soft drinks into CBD beverages.
Late Thursday, Heavenly Rx, a hemp portfolio company of cannabis investment firm SOL Global Investments (SOLCF), invested $9 million to buy 15 million shares of Jones Soda, bringing its ownership stake in the Seattle soda company to 25%. The infusion is a welcome sum for Jones, which has been accumulating losses.
– Read the entire article at CNN News.
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