Jones Soda, Tilray partnering to bring cannabis drinks to Canada
Seattle-based Jones Soda Co. is partnering with licensed producer Tilray Brands to bring infused-beverage brand Mary Jones to the Canadian market, starting in Ontario.
Jones Soda Co. is a craft soda manufacturer with a subsidiary dedicated to cannabis.
Until now, Jones Soda had only distributed non-cannabis products in the Canadian market.
Jones Soda Co.’s THC-infused beverages are expected to be for sale in Ontario, the largest cannabis market in Canada, in the first quarter of 2024, according to a news release.
Manufacturing and distribution will occur through Ontario-headquartered Tilray Brands; Top firm Green Hedge will support sales and field marketing.
Jones Soda Co. said an expansion into other cannabis categories is in development with Tilray for the Canadian market.
“We are excited to partner with Mary Jones and to … produce their one of (a) kind beverages at our state-of-the-art London, Ontario facility,” Tilray Canada President Blair MacNeil said in a statement.
“The Mary Jones brand has seen enormous success in the United States and we look forward to being a part of their rapid growth in Canada.”
Jones Soda has been plotting its course into the Canadian cannabis market for years.
In 2022, the craft beverage maker acquired a Canadian shell company and raised $11 million in concurrent financing as part of a move to develop cannabis-infused products.
At the time, Jones Soda said the money “will be used towards the development of the company’s planned cannabis-infused beverages and edibles business line.”
In 2021, the company disclosed plans to enter the cannabis beverage sector as part of a “strategic transformation.”
According to Tuesday’s release, “Jones … and Tilray are a natural fit for our first international expansion for Mary Jones following the incredible success we’ve had in our U.S. markets,” Jones Soda CEO David Knight said in a statement that noted the beverage company was founded in Vancouver, British Columbia.
“Canada’s recreational cannabis sales increased $466.1M CAD in July, up 1.9 % from June this year. We’re looking forward to bringing Mary Jones to Canada’s THC retailers and consumers.”
In the nine months ended Sept. 30, Jones recorded revenue of 13.2 million Canadian dollars ($9.8 million).
That was a decrease from CA$15.3 million in the same period in the previous year.
By geography, the company’s revenue was:
- CA$10.5 million in the United States.
- CA$2.6 million in Canada.
- CA$40,000 in other, unidentified countries.
Shares of Jones Soda Co. are traded on the Canadian Securities Exchange as JSDA.
Shares of Tilray trade as TLRY on the Nasdaq and Toronto Stock Exchange.
