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JONES SODA CO. PROVIDES PRIVATE PLACEMENT UPDATES By Investing.com

TURIN, August 16, 2024 /PRNewswire/ — Jones Soda Co. ( “Soda Jones” or the “Agency“) (CSE: JSDA, OTCQB: JSDA) wishes to provide an update on the financing by means of a private placement of units consisting of (i) one (1) common share in the capital of the Company and (ii) one-half (1/2) of a detachable share purchase warrant for gross proceeds of up to 5,000,000 US dollars initially announced in the Company’s press release dated August 1, 2024 (THE “Offer“). The Company has currently completed two tranches of the Offering for total proceeds of 3,653,960 US dollarsThe Company intends to complete a third and final tranche of the Offering no later than August 21, 2024.

None of the securities offered and sold in the Offering have been registered under the U.S. Securities Act of 1933, as amended, (the “US Securities Act“) at the time of the Offering, however, such securities include registration rights. None of the securities issued in the Offering or any underlying securities may be offered or sold in the United States failure to register pursuant to US Securities Act and all applicable state securities laws or an applicable exemption from such registration requirements.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United Statesand shall not constitute an offer, solicitation or sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. This press release is being issued pursuant to and in compliance with Rule 135c under US Securities Act.

About Jones Soda

Jones Soda Co. ® (CSE: JSDA, OTCQB: JSDA) is a leading developer of cannabis-infused beverages and drinks known for their premium taste, unique flavors and unconventional brand personality. Launched in 1996 as the original craft soda brand, the Company today markets a diverse portfolio of sodas, mixers and wellness beverages under the Jones ® Soda brand, as well as a line of award-winning cannabis beverages and edibles leveraging Jones brand flavors under the Mary Jones brand. For more information, visit www.jonessoda.com, www.myjones.com or https://gomaryjones.com.

Contacts
David KnightPresident and CEO
Phone Number: 1-206-624-3357

Investor Relations
Cody Cree (NYSE:)Gateway Group, Inc.
Phone Number: 1-949-574-3860
JSDA@gateway-grp.com

The CSE assumes no responsibility for the adequacy or accuracy of this release.

NEITHER THE CANADIAN CURRENCY EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Statements Regarding Forward-Looking Information

This press release may contain forward-looking information within the meaning of applicable securities laws in either case. Canada AND the United Statesreflecting management’s current expectations regarding future events. Such information includes, without limitation, information regarding the completion and timing of a third tranche of the Offering. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward-looking information is generally identified by words such as: “believe,” “expect,” “anticipate,” “intend,” “estimate,” “postulate” and similar expressions, or are those that by their nature refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that such forward-looking information is based on a number of management’s estimates and assumptions in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes are relevant and reasonable in the circumstances, as of the date of this press release, including, without limitation, that the Company will be able to complete a third tranche of the Offering or use the net proceeds from the Offering in the manner anticipated; that general business and economic conditions will not change materially adversely; and assumptions regarding political and regulatory stability and stability in the financial and capital markets.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others: the risk that the Company will not be able to complete a third tranche of the Offering; the risk that the Company will not be able to use the proceeds from the Offering as planned; the state of the financial markets for the Company’s securities; the ability of the Company to raise necessary capital or to be fully capable of implementing its business strategies; and other risks and factors of which the Company is not aware at this time.

The forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Written by Anika Begay

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