Jones Soda Co. sold its hemp-derived THC beverage business to MJ Reg Disrupters for $3 million.
The deal was for about $489,000 in cash with the remaining in the form of a promissory note with fixed payment schedules, according to a Monday news release.
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Jones Soda’s Mary Jones brand offers products derived from hemp-derived delta-9 THC.
As part of the deal, MJ Reg Disrupters has the right to use the Mary Jones brand name in any “consumable product containing an emulsion containing THC derived from the marijuana plant” in exchange for an annual $150,000 licensing fee payable on the first anniversary of the sale and $225,000 in subsequent anniversaries, the release noted.
“The sale of the cannabis beverage business marks an important
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