No Reaction-! JSDA Jones Soda announces planned strategic entry into cannabis sector 08:34 JSDA, SOLCF Jones Soda (JSDA) announced that it has issued to SOL Global Investments Corp. (SOLCF) a US$2,000,000 unsecured convertible debenture and has entered into a non-binding term sheet dated July 14, 2021 with Pinestar Gold, a Canadian Reporting Issuer, and SOL. Jones intends to use the proceeds of the Convertible Debenture and transactions outlined in the Term Sheet exclusively for transaction costs and the expansion of Jones' business to the production and sale of cannabis-containing beverages, edibles and related products. Jones intends to operate its planned cannabis operations through one or more subsdiaries that are separate from its craft beverage business. "We believe that Cannabis-infused beverages and edibles are a perfect fit for the iconic personality of the Jones brand, and that the proposed transactions will lay the groundwork for a strategic transformation of the Company to an additional business line that we feel builds on our current business model," said Mark Murray, President and CEO of Jones. "We are also confident that SOL, along with certain large shareholders of Pinestar will provide Jones with the knowledge, expertise and resources necessary to help us deliver on our growth plans within the cannabis sector," added Mr. Murray. The proposed transactions outlined in the Term Sheet are subject to, amongst other conditions, due diligence by the parties, the negotiation and execution of a definitive agreement, approval of any applicable regulators, including any applicable securities exchanges, and approval by both the shareholders of Pinestar and the Supreme Court of British Columbia. Under the terms of the Term Sheet, Jones intends to acquire all of the outstanding common shares of Pinestar and warrants exercisable into common shares of Pinestar in exchange for an aggregate of 4,000,000 shares of Jones common stock and 1,674,808 warrants exercisable into Jones Shares as part of a statutory plan of arrangement under the Business Corporations Act and in reliance on applicable exemptions from the prospectus and registration requirements under Canadian and United States securities laws. The Term Sheet also provides that Pinestar intends to complete an offering of subscription receipts that is expected to be subscribed for by SOL and certain significant shareholders of Pinestar, one of whom is Marc Lustig, a well-known and respected Canadian entrepreneur, capital markets executive and investor, or their respective contacts and partners, for minimum aggregate gross proceeds of US$8,000,000, at a price per Subscription Receipt equal to US$0.50. The Subscription Receipts are intended to automatically convert into units of Pinestar on a one-for-one basis if certain conditions relating to the Plan of Arrangement are met, with each Pinestar Unit expected to consist of one common share of Pinestar Share and one new share purchase warrant of Pinestar, which are then expected to be immediately exchanged for, or adjusted into, Jones Units as part of the Plan of Arrangement in accordance with a 1:1 exchange ratio.
At one time years ago I was putting together several portfolios and I suggested to my Bro that he take a huge position in SAM... Because, his name was Sam. Not the best reasoning, but that would of made incredible money-! Boston Beer has trounced the market.
Procter, WMT, Colgate, Duke Power, AEP.... all green today. STONEY WAS RIGHT!!!!! This is a sure sign of a correction.
Its up 10% Stoney!!!! Good catch on the news! They are under that "failed to meet NASDAQ listing requirements" though. We need to look into this... But Stoney... can REED be far behind? Davids Tea? I still like REED, they have that younger CEO (i think)... didn't the founder appoint the new guy? REED is in the G4G portfolio too at like like $1.05 A worst performer really. Its $0.90 today. I think both are good picks. Maybe SAM will buy REED!!!!!!
JSDA up 13% now... damn... I was gonna hit the ask at $0.51 too... WSB's get ahold of this one.... 50% gain in one day! BUY BUY BUY!
The guy that brought us BFLY is SPAC' ing another company today that appears to have some decent financials. He was just on CNBC. Could that rub off a bit on BFLY? BFLY is down alot. it's around $11..... I THINK THIS MAY BE A BOTTOM