Jones Soda looks to raise $3M via securities offering

Jones Soda (OTCQB:JSDA) on Wednesday announced a private placement of up to 7.5 million units at $0.40 per unit, for total gross proceeds of $3 million. Each unit will consist of one common share in the capital of the company and one-half of one detachable share purchase warrant. Each whole warrant will be exercisable into one common share for $0.50 per share for 24 months from the date of issuance. Each whole warrant may be exercised anytime during the warrant exercise period upon the voluntary election to exercise by the holder. The company intends to use the net proceeds of the offering to support growth and for general corporate purposes. The closing of the offering is expected to occur on or about July 18, 2024.