Simply Better Brands Corp. and Jones Soda Co. Announce Termination of Letter of Intent Due to Unfavourable Market Conditions
June 07 2022 - 10:56AM
Simply Better Brands Corp. ( “
Simply Better
Brands” or “
SBBC”) (TSX Venture: SBBC)
(OTCQB: PKANF) and Jones Soda Co. (“
Jones”) (CSE:
JSDA) (OTCQB: JSDA) announce that, due to current market
conditions, SBBC and Jones have terminated the previously announced
letter of intent (see news release dated April 21, 2022).
“We are disappointed that due to current market
conditions we are unable to move forward with our intended
transaction at this time. The Jones Soda brand is one we felt
confident would add tremendous value to our existing platform and
ultimately be accretive to shareholder value. We wish Jones
management and their board much success in their future,” says
Kathy Casey, CEO of Simply Better Brands.
“Due to the decline in current market
conditions, we regrettably are unable to continue with the proposed
transaction with SBBC. We are certain that Simple Better Brands and
Jones will continue to find successful business opportunities in
the future, despite this shift in direction for both companies,”
says Mark Murray, CEO of Jones Soda.
About Simply Better Brands
Corp.
Simply Better Brands Corp. leads an
international omni-channel platform with diversified assets in the
emerging plant-based and holistic wellness consumer product
categories. Simply Better Brands’ mission is focused on leading
innovation for the informed Millennial and Generation Z generations
in the rapidly growing plant-based, natural, and clean ingredient
space. Simply Better Brands continues to focus on expansion into
high-growth consumer product categories including CBD products,
plant-based food and beverage, and the global pet care and skin
care industries. For more information on Simply Better Brands
Corp., please visit:
https://www.simplybetterbrands.com/investor-relations.
About Jones Soda
Jones Soda Co.® (CSE: JSDA, OTCQB: JSDA) is a
leading craft soda manufacturer with a subsidiary dedicated to
cannabis products. The company markets and distributes premium
craft sodas under the Jones® Soda and Lemoncocco® brands, and a
variety of cannabis products under the Mary Jones brand. Jones'
mainstream soda line is sold across North America in glass bottles,
cans and on fountain through traditional beverage outlets,
restaurants and alternative accounts. The company is headquartered
in Seattle, Washington. For more information, visit
www.jonessoda.com, www.myjones.com, www.drinklemoncocco.com or
www.MaryJonesCannabis.com.
Contact Information
Simply Better Brands Corp.Brian MeadowsChief Financial Officer+1
(855) 553-7441ir@simplybetterbrands.com
About Jones
Headquartered in Seattle, Washington, Jones
markets and distributes premium craft beverages under the Jones®
Soda and Lemoncocco® brands. A leader in the premium craft soda
category, Jones is made with cane sugar and other high‐quality
ingredients and is known for packaging that incorporates ever‐
changing photos sent in from its consumers. Jones’ diverse product
line offers something for everyone – cane sugar soda, zero‐calorie
soda and Lemoncocco non‐carbonated premium refreshment. Jones is
sold across North America in glass bottles, cans and on fountain
through traditional beverage outlets, restaurants, and alternative
accounts.
For more information, visit www.jonessoda.com or www.myjones.com
or www.drinklemoncocco.com. For further information,
please contact Mark Murray, the Jones’ President and Chief
Executive Officer at (206) 624‐3357
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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