SEATTLE – Jones Soda Co., a craft beverage company, sold its cannabis beverage business, including all related cannabis-specific assets under the Mary Jones brand, to MJ Reg Disrupters LLC, a privately held company in a $3-million cash-and-note deal.
Terms of the transaction included $489,399 in cash paid on the June 19 closing date plus $2,510,601 in the form of a promissory note with the following payment schedule: $510,601 due on June 27, $500,000 due on June 19, 2026, $750,000 on June 19, 2027, and $750,000 on June 19, 2028.
As part of the transaction, the company and MJ Reg entered into a multi-year exclusive and non-transferrable trademark licensing agreement dated June 19, 2025, under which MJ Reg will have the right to use the Mary Jones brand name in any consumable product containing an emulsion derived from the marijuana plant with tetrahydrocannabinol (THC), in exchange for an annual licensing fee of $150,000 payable on the one-year anniversary of the effective date and $225,000 on each subsequent anniversary. Assuming a ten-year term, the total amounts due to Jones Soda Co. would be $2,175,000.
The transaction is part of Jones’ strategy to streamline operations and focus on its core soda offerings, modern functional beverages, and emerging adult beverage category.
“The sale of the cannabis beverage business marks an important milestone in our effort to focus our resources on areas where we see the strongest long-term growth and profitability,” said Jones CEO Scott Harvey. “We are proud of the innovation behind the Mary Jones brand, but I believe this divestiture enables us to sharpen our strategic priorities and accelerate investment in our core soda, functional beverage, and adult beverage categories.”
According to Joe Oblas, director of MJ Reg, “We are excited about the opportunity to build on the Mary Jones legacy and bring it to more consumers in the evolving cannabis beverage market. Jones Soda created a unique and high-quality product, and we are committed to continuing its innovation and reach.”
