Jones Soda and SBBC terminate LOI for business combination due to market conditions

JONES SODA CO.

Mutually terminated binding LOI signed April 16, 2022 and amended May 10, 2022.
Termination due to unfavourable market conditions; no material early termination penalties incurred.
Deal would have been a business combination via acquisition of Jones Soda by Simply Better Brands.
Joint press release issued June 7, 2022 by both companies.

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