Recently, we’ve seen several cross-investments between the cannabis and beverage industries - just like Constellation Brands, Inc. 38% acquisition in Canopy Growth Corp.
Well, Toronto-based Sol Global Investments (CSE: SOL) (OTCQB: SOLCF) just announced that it has acquired 8.19 percent stake in Jones Soda Company (OTCQB: JSDA), a Seattle-based company that focuses on bottling and distribution of soft drinks, energy drinks, non-carbonated beverages, and candy.
SOL Global Investments acquired Jones Soda Company’s 3,396,049 common shares. This also makes SOL Global the largest stockholder in Jones Soda. SOL Global is a global investment company with interest in companies producing cannabis and cannabis-related products in the United States and the evolving European cannabis market.
Consequently, SOL Global Investment has filed a Schedule 13D with the Securities and Exchange Commission of the United States to notify them about the investment.
About the recent acquisition, Andy DeFrancesco, the Chief Investment Officer of SOL Global says, “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. It is clear that Jones Soda is committed to being on the front lines of innovative products development while staying true to their iconic brand.”
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