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A Toronto-based hemp and CBD funding firm elevated its stake in a conventional soda firm with an eye fixed towards growing CBD-infused drinks with the model.

HeavenlyRx purchased 15 million shares in Jones Soda Co. for $9 million and now holds 39% of the Seattle-based beverage producer.

The deal additionally offers HeavenlyRx two seats on Jones Soda’s board.

Jones Soda is distributed in all 50 U.S. states, together with comfort shops, grocery shops and quick-service eating places, and the acquisition offers HeavenlyRx entry to these distribution channels, Paul Norman, CEO of the Canadian firm, instructed Hemp Business Each day.

HeavenlyRx additionally has an possession stake in Hemp2o, a beverage firm with distribution within the western United States.

Jones Soda trades on over-the-counter markets as JSDA. HeavenlyRx is privately held.

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