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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.

https://www.cannabisculture.com/content/2019/07/13/a-cbd-company-now-owns-a-big-chunk-of-jones-soda/

Associated Press

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