Jones Soda to raise $1 million through financing
October 29, 2010
by Eric Schroeder
SEATTLE — Jones Soda Co. said it expects to close the sale of 948,475 shares of its common stock to Glengrove Small Cap Value, Ltd. for approximately $1 million, or about $1.06 per share. Proceeds from the sale are expected to be used to fund new marketing programs, secure and grow larger distributor and national retail accounts, and for working capital and other general corporate purposes.