This story was corrected with new information on 6/26/25
They gave it a good try, but Jones Soda Co. announced today (June 24) it’s ending efforts to make and sell marijuana-based beverages, selling assets under the Mary Jones brand to MJ Reg Disrupters LLC for $3 million.
The company issued a clarification June 26: “In connection with the previously announced divestiture of the company's marijuana-derived THC business ... the company has retained and continues to focus on its fast growing hemp-derived THC product (HD9) line, which includes Mary Jones sodas, shooters and gummies, and which has seen four consecutive quarters of sales revenue growth through the first quarter of 2025.”
"The sale of the cannabis beverage business marks an important milestone in our effort to focus our resources on areas where we see the strongest long-term growth and profitability,” said Scott Harvey, who inherited the three-year-old business when he became CEO of Jones Soda Co. this February – the company’s fourth CEO in as many years.
“We are proud of the innovation behind the Mary Jones brand, but I believe this divestiture enables us to sharpen our strategic priorities and accelerate investment in our core soda, functional beverage, and adult beverage categories,” Harvey added.
Cannabis beverages accounted for $1.36 million out of the company’s $19 million in total revenues in 2024. The company’s been around since 1995 but has reported a net loss every year since at least 2007.
The Mary Jones sale consisted of $489,399 in cash that was paid by MJ Reg on the June 19 closing date of the transaction, plus $2,510,601 in the form of a promissory note to be paid in four installments in June of 2025, 2026, 2027 and 2028.
