Simply Better Brands Corp. (OTCQB:PKANF) (TSX:SBBC) and Jones Soda Co. (OTCQB:JSDA) (CSE:JSDA) have terminated the previously announced letter of intent, due to current market conditions.
“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,” stated Kathy Casey, CEO of Simply Better Brands.
Mark Murray, CEO of Jones Soda stated “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.”
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.
About Jones Soda
Jones Soda Co. 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.
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