Jones Soda Appoints New CEO Scott Harvey and CFO Brian Meadows
Experienced Executives Plan to Execute Strategic Plan Focused on Driving Profitable Growth
SEATTLE, Feb. 5, 2025 /PRNewswire/ -- Jones Soda Co. ("Jones" or the "Company") (CSE: JSDA, OTCQB: JSDA) today announced the hiring of proven business executives Scott Harvey and Brian Meadows to serve as the Company's new Chief Executive Officer and Chief Financial Officer, respectively. Both are expected to be instrumental in implementing a strategic plan designed to generate profitable growth and transform Jones from a craft soda company into a full-fledged beverage company.
"In the last three months we have adjusted our business plan to prioritize what we believe to be the most promising segments of our portfolio, including new products in our innovation pipeline. We are confident that we now have all the pieces in place to deliver high growth and profitable performance," said Paul Norman, Jones' Chairman of the Board of Directors who has served as Interim Chief Executive Officer and Chief Financial Officer since late 2024. "Both Scott and Brian have deep food and beverage experience, have successfully driven business transformation in their previous roles, and we believe will provide immediate hands-on value in implementing our strategy."
"I'm impressed with the steps that Jones has taken to expand beyond its craft soda roots by adding new product lines and formats that I believe are aligned with the preferences of today's consumer," said Mr. Harvey. "I believe the Company's strategic plan provides a clear path to leveraging that foundation to achieve profitability, and I look forward to working with the team to put the plan into action."
Scott Harvey most recently served as president of Dunn Brothers Coffee, a chain of coffee shops offering small-batch roast coffee in seven states. His 40-year career also includes top executive posts with Golden Krust Caribbean Bakery, Black Rifle Coffee Company, Nathan's Famous and Einstein Noah Restaurant Group, where his last position involved leading operations for 850 corporate, license and franchise restaurants. His achievements include orchestrating sustained revenue growth, aligning spending with growth objectives, and building high-performing cultures. He earned a B.S. in hotel and restaurant management from Johnson & Wales University.
Brian Meadows has over 25 years of experience as a Chief Financial Officer and senior executive in CPG, food ingredients, telecommunications and other industries, including public companies. He most recently served as Chief Financial Officer for Simply Better Brands Corporation, where he helped guide the development and growth of that company's HERO brand TRUBARTM. He also has deep expertise in growth, cash flow and risk management as well as in both equity and debt capital raises, and extensive involvement in strategy and operations. He holds Certified Financials Analyst (CFA) and Certified Public Accountant (CPA) designations and earned an MBA from the University of Glasgow.
Both appointments are effective immediately.
Under the current strategic plan, Jones intends to concentrate on key new and legacy products in areas including modern soda, adult beverages and craft soda.
In the craft soda category, the Company plans to emphasize newer formats such as its 7.5 oz Jones Minis and zero-sugar versions of its most popular flavors while also continuing to market its mainline 12 oz craft sodas, known for their unique flavors, pure cane sugar formulations, user-generated photo labels, and premium taste.
In the modern soda category, the Company intends to emphasize Pop Jones, a family of all-natural, 30-calorie functional sodas with just 4 grams of sugar and generous fiber and immune support, and Fiesta Jones, a Latin-inspired collection developed for convenience stores with only 80 calories, no artificial colors or caffeine, and resealable aluminum bottles.
In the adult beverage category, the Company expects to focus on Spiked Jones, a hard craft soda that combines six of Jones' classic pure cane sugar soda flavors with hard ciders, and Mary Jones Hemp Delta-9 (HD9) beverages, a line of hemp-derived THC-infused alcohol alternatives.
Several of these product lines are included in the new distribution agreements covering 2,000 convenience stores that were announced last month, marking Jones' first significant presence in the convenience channel in its nearly 30-year history.
About Jones Soda Jones Soda Co.® (CSE: JSDA, OTCQB: JSDA) is a leading developer of sodas and hemp-infused beverages 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, spiked soda, and wellness beverages under the Jones® Soda brand as well as a line of award-winning hemp beverages and edibles leveraging Jones' trademark flavors under the Mary Jones brand. For more information, visit www.jonessoda.com, www.myjones.com, or https://gomaryjones.com
The CSE does not accept responsibility for the adequacy or accuracy of this release.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary Statements Regarding Forward‐Looking Information
This news release may contain both forward‐looking information and forward-looking statements within the meaning of applicable securities legislation in both Canada and the United States, which reflect management's current expectations regarding future events. Such information and statements include, without limitation, information regarding the successful implementation of the Company's updated strategic plan and the focus on specific beverage product offerings. Although the Company believes that such information and statements are reasonable, it can give no assurance that such expectations will prove to be correct.
Both forward‐looking information and forward-looking statements are typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward‐looking information or forward-looking statements provided by the Company are not a guarantee of future results or performance and that such forward‐looking information or forward-looking statements are based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this news release including, without limitation, that the Company's management will be able to successfully implement the Company's updated strategic in the manner intended; that the Company will be able to successfully launch the products it intends to launch; that general business and economic conditions will not change in a material adverse manner; and assumptions regarding political and regulatory stability and stability in financial and capital markets.
Forward‐looking statements also involve known and unknown risks, uncertainties and other factors which may 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 may not be able execute on its strategic plan as intended or focus on the products it intends to focus on; the state of the financial markets for the Company's securities; the Company's ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time.
The forward‐looking statements contained in this news release are made as of the date of this news 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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/jones-soda-appoints-new-ceo-scott-harvey-and-cfo-brian-meadows-302368652.html
SOURCE Jones Soda
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Broadwind Announces Sale of Industrial Fabrication Operations in Manitowoc, Wisconsin
Divestiture of the Manitowoc, WI facility optimizes asset base and improves operating leverage Further diversifies BWEN's business toward higher-margin precision manufacturing segments Significantly enhances liquidity, while reducing net leverage and supporting capital deployment priorities CICERO, Ill., June 04, 2025 (GLOBE NEWSWIRE) -- Broadwind (Nasdaq: BWEN, or the 'Company'), a diversified precision manufacturer of specialized components and equipment serving global markets, today announced that it has entered into a definitive agreement to sell its industrial fabrication operations in Manitowoc, WI for total consideration of not less than $13 million. This transaction is expected to close during the third quarter 2025, subject to the satisfaction of customary closing conditions. 'This transaction represents a meaningful step forward in optimizing our footprint, enhancing balance sheet optionality, and sharpening our strategic focus within stable, higher-margin precision manufacturing verticals,' stated Eric Blashford, President and CEO of Broadwind. 'By consolidating our operations, we expect to materially improve our overall utilization across our remaining operations, while reducing annualized operating costs by approximately $8 million upon closing of the transaction.' 'This transaction supports our continued strategic diversification in precision manufacturing toward other key power generation and infrastructure markets,' said Blashford. 'At the same time, we remain committed to serving our key wind customers while consolidating production into our most competitive facility.' 'At the close of this transaction, our capital allocation strategy will prioritize debt repayment and complementary acquisitions providing diversification into high-value, high growth adjacencies, together with other value-enhancing actions,' stated Blashford. 'We look forward to ensuring a seamless transition of the facility and operations in Manitowoc.' STRATEGIC RATIONALE Optimizes asset base. In 2024, the Manitowoc facility generated approximately $25 million in revenue. The Company expects to transition roughly $8 million of wind-related revenue to its Abilene, TX facility. By moving the remaining wind repowering and pressure reducing systems (PRS) volume from Manitowoc, where margins were approximately 8-9%, the Company anticipates it will materially improve utilization rates and enhance operating leverage. Diversifies toward precision manufacturing in other key power generation and infrastructure end-markets. The Company continues to reduce its exposure to wind by redeploying underutilized assets into non-wind precision manufacturing. Investments in advanced machinery, and quality certifications have positioned Broadwind to support higher volumes in the Gearing and Industrial Solutions segments. On a proforma 2024 basis, revenue would have been approximately $125 million, with 52% from Heavy Fabrications, 28% from Gearing, and 20% from Industrial Solutions. Enhances balance sheet flexibility. As of March 31, 2025, Broadwind had total cash and net debt outstanding of $1.2 million and $16.7 million, respectively. Pro-forma for the closing of the transaction, total cash would have increased to $9.4 million with net debt of $3.7 million. ABOUT BROADWIND Broadwind (Nasdaq: BWEN) is a precision manufacturer of structures, equipment and components for clean tech and other specialized applications. With facilities throughout the U.S., our talented team is committed to helping customers maximize performance of their investments—quicker, easier and smarter. Find out more at NON-GAAP FINANCIAL MEASURES The Company provides non-GAAP adjusted EBITDA (earnings before interest, income taxes, depreciation, amortization, share-based compensation and other stock payments, restructuring costs, impairment charges, proxy contest-related expenses and other non-cash gains and losses) as supplemental information regarding the Company's business performance. The Company's management uses this supplemental information when it internally evaluates its performance, reviews financial trends and makes operating and strategic decisions. The Company believes that this non-GAAP financial measure is useful to investors because it provides investors with a better understanding of the Company's past financial performance and future results, which allows investors to evaluate the Company's performance using the same methodology and information as used by the Company's management. The Company's definition of adjusted EBITDA may be different from similar non-GAAP financial measures used by other companies and/or analysts. FORWARD-LOOKING STATEMENTS This release contains 'forward-looking statements'—that is, statements related to future, not past, events—as defined in Section 21E of the Securities Exchange Act of 1934, as amended, (the 'Exchange Act'), that reflect our current expectations regarding our future growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities, as well as assumptions made by, and information currently available to, our management. We have tried to identify forward-looking statements by using words such as 'anticipate,' 'believe,' 'expect,' 'intend,' 'will,' 'should,' 'may,' 'plan' and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. Forward-looking statements include any statement that does not directly relate to a current or historical fact. Our forward-looking statements may include or relate to our beliefs, expectations, plans and/or assumptions with respect to the following: (i) our expectations and beliefs with respect to our financial guidance; (ii) the impact of global health concerns on the economies and financial markets and the demand for our products; (iii) state, local and federal regulatory frameworks affecting the industries in which we compete, including the wind energy industry, and the related extension, continuation or renewal of federal tax incentives and grants, including the advanced manufacturing tax credits and state renewable portfolio standards as well as new or continuing tariffs on steel or other products imported into the United States; (iv) our customer relationships and our substantial dependency on a few significant customers and our efforts to diversify our customer base and sector focus and leverage relationships across business units; (v) our ability to operate our business efficiently, comply with our debt obligations, manage capital expenditures and costs effectively, and generate cash flow; (vi) the economic and operational stability of our significant customers and suppliers, including their respective supply chains, and the ability to source alternative suppliers as necessary; (vii) our ability to continue to grow our business organically and through acquisitions; (viii) the production, sales, collections, customer deposits and revenues generated by new customer orders and our ability to realize the resulting cash flows; (ix) information technology failures, network disruptions, cybersecurity attacks or breaches in data security; (x) the sufficiency of our liquidity and alternate sources of funding, if necessary; (xi) our ability to realize revenue from customer orders and backlog (including our ability to finalize the terms of the remaining obligations under a supply agreement with a leading global wind turbine manufacturer); (xii) the economy and the potential impact it may have on our business, including our customers; (xiii) the state of the wind energy market and other energy and industrial markets generally, including the availability of tax credits, and the impact of competition and economic volatility in those markets; (xiv) the effects of market disruptions and regular market volatility, including fluctuations in the price of oil, gas and other commodities; (xv) competition from new or existing industry participants including, in particular, increased competition from foreign tower manufacturers; (xvi) the effects of the change of administrations in the U.S. federal government; (xvii) our ability to successfully integrate and operate acquired companies and to identify, negotiate and execute future acquisitions; (xviii) the potential loss of tax benefits if we experience an 'ownership change' under Section 382 of the Internal Revenue Code of 1986, as amended; (xix) the effects of proxy contests and actions of activist stockholders; (xx) the limited trading market for our securities and the volatility of market price for our securities; (xxi) our outstanding indebtedness and its impact on our business activities (including our ability to incur additional debt in the future); and (xxii) the impact of future sales of our common stock or securities convertible into our common stock on our stock price. These statements are based on information currently available to us and are subject to various risks, uncertainties and other factors that could cause our actual growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities to differ materially from those expressed in, or implied by, these statements including, but not limited to, those set forth under the caption 'Risk Factors' in Part I, Item 1A of our most recently filed Form 10-K. We are under no duty to update any of these statements. You should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or other factors that could cause our current beliefs, expectations, plans and/or assumptions to change. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. CONTACT: IR CONTACT Stefan Neely or Noel Ryan BWEN@
Yahoo
an hour ago
- Yahoo
Australian Oilseeds Holdings Limited Announces Receipt of Nasdaq Notification Regarding Filing Delinquency
COOTAMUNDRA, Australia, June 04, 2025 (GLOBE NEWSWIRE) -- Australian Oilseeds Holdings Limited (the 'Company') (NASDAQ: COOT), a manufacturer and seller of sustainable edible oils to customers globally, announced that it has received written notification from the Nasdaq Stock Market LLC ('Nasdaq') on May 27, 2025 stating that the Company was delinquent in filing its Quarterly Report on Form 10-Q for the period ended March 31, 2025. The Company previously filed a Form 12b-25 with the U.S. Securities and Exchange Commission on May 14, 2025, disclosing that it was unable to file the Form 10-Q within the prescribed time period without unreasonable effort or expense. The Nasdaq Letter provided that under Nasdaq rules, the Company has 60 calendar days to submit a plan to regain compliance with respect to the Delinquent Filing. The Company has filed its Quarterly Report on Form 10-Q for the period ended March 31, 2025 on May 30, 2025, thereby regaining compliance with its filing obligation, which eliminates the need for the Company to submit a formal plan to regain compliance. About Australian Oilseeds Holdings Limited. Australian Oilseeds Holdings Limited, a Cayman Islands exempted company (the 'Company') (NASDAQ: COOT) through its subsidiaries, including Australian Oilseeds Investments Pty Ltd., an Australian proprietary company, tis focused on the manufacture and sale of sustainable oilseeds (e.g., seeds grown primarily for the production of edible oils) and is committed to working with all suppliers in the food supply chain to eliminate chemicals from the production and manufacturing systems to supply quality products to customers globally. The Company engages in the business of processing, manufacture and sale of non-GMO oilseeds and organic and non-organic food-grade oils, for the rapidly growing oilseeds market, through sourcing materials from suppliers focused on reducing the use of chemicals in consumables in order to supply healthier food ingredients, vegetable oils, proteins and other products to customers globally. Over the past 20 years, the Company's cold pressing oil plant has grown to become the largest in Australia, pressing strictly GMO-free conventional and organic oilseeds. Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook, business strategy and plans, market trends and market size, opportunities and positioning. These forward-looking statements are based on current expectations, estimates, forecasts and projections. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall" and variations of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. For example, global economic conditions could in the future reduce demand for our products; we could in the future experience cybersecurity incidents; we may be unable to manage or sustain the level of growth that our business has experienced in prior periods; our financial resources may not be sufficient to maintain or improve our competitive position; we may be unable to attract new customers, or retain or sell additional products to existing customers; we may experience challenges successfully expanding our marketing and sales capabilities, including further specializing our sales force; customer growth could decelerate in the future; we may not achieve expected synergies and efficiencies of operations from recent acquisitions or business combinations, and we may not be able to pay off our convertible notes when due. Further information on potential factors that could affect our financial results is included in our most recent Annual Report on Form 10-K for June 30, 2024 and our other filings with the Securities and Exchange Commission. The forward-looking statements included in this press release represent our views only as of the date of this press release and we assume no obligation and do not intend to update these forward-looking statements. ContactAustralian Oilseeds Holdings Limited126-142 Cowcumbla StreetCootamundra New South Wales 2590Attn: Amarjeet Singh, CFOEmail: amarjeet.s@ Investor Relations ContactReed Anderson(646) in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
GIPR Announces Sale of Two Properties and Full Repayment of CMBS Loan
TAMPA, FL / / June 4, 2025 / Generation Income Properties, Inc. (NASDAQ:GIPR) ("GIPR" or the "Company"), today announced the successful sale of two assets-an Auburn University-occupied industrial building in Huntsville, Alabama, and a Starbucks-occupied retail property in Tampa, Florida-both of which were previously encumbered under a single commercial mortgage-backed securities (CMBS) loan. The sales resulted in the full repayment of the loan's approximately $10.5 million principal balance, leaving the Company's remaining CMBS-encumbered property-a 7-Eleven in Washington, D.C.-completely unleveraged. Said David Sobelman, CEO of GIPR, "These transactions represent a meaningful milestone in GIPR's continued efforts to streamline its balance sheet and strategically enhance its portfolio. The Company navigated a complex payoff process and addressed a number of administrative and timing constraints that arose in connection with the CMBS loan, which was serviced by PNC Bank. With the CMBS loan now fully retired and these sales complete, GIPR is positioned to move forward with a cleaner capital structure and enhanced operational flexibility." About Generation Income Properties Generation Income Properties, Inc., located in Tampa, Florida, is an internally managed real estate investment trust formed to acquire and own, directly and jointly, real estate investments focused on retail, office and industrial net lease properties located primarily in densely populated submarkets throughout the United States. Additional information about Generation Income Properties, Inc. can be found on the Company's corporate website: Forward-Looking Statements: This press release, whether or not expressly stated, may contain "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. The words "believe," "intend," "expect," "plan," "should," "will," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These statements reflect the Company's expectations regarding future events and economic performance and are forward-looking in nature and, accordingly, are subject to risks and uncertainties. Such forward-looking statements include risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements which are, in some cases, beyond the Company's control and which could have a material adverse effect on the Company's business, financial condition, and results of operations. These risks and uncertainties include the risk that that the expected benefits of the above-described portfolio acquisition will not be realized or will not be realized within the expected time periods, as well as risks relating to general economic conditions, market conditions, interest rates, and other risks and uncertainties that are identified from time to in the Company's SEC filings which are available at The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company's business, financial condition, and results of operations. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statement made by us herein speaks only as of the date on which it is made. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof, except as may be required by law. Investor Contact: Investor Relationsir@ SOURCE: Generation Income Properties View the original press release on ACCESS Newswire
