Jones Soda Co. Secures $2 Million Credit Facility

SEATTLE, WA, Jan 03, 2012 (MARKETWIRE via COMTEX) — Jones Soda Co., a leader in the premium soda category and known for its unique branding and innovative marketing, today announced that it has entered into a secured credit facility with Access Business Finance LLC (“Access”), pursuant to which the Company, through two of its wholly owned subsidiaries, Jones Soda (Canada) Inc. and Jones Soda Co. (USA) Inc., may borrow a maximum aggregate amount of up to $2,000,000, subject to satisfaction of certain conditions.

“This credit facility provides us with an important financing option,” said Bill Meissner, CEO of Jones Soda. “We continue to invest in expanding distribution for Jones products in new and existing markets, but are also balancing that with cost management. Having this line available to us as we navigate is a positive development.”

The facility will enable Jones Soda to periodically request advances up to 75% of the Company’s eligible accounts receivable. The interest rate on the facility is the Prime Rate plus 2%, but may not be less than 5.25% per annum, with a minimum facility payment of $5,000 per month. The facility has an initial one-year term, which will be automatically extended unless either party gives notice of non-renewal. The facility is guaranteed by the Company and is secured by a first priority security interest in all assets of the Company and its subsidiaries.

In connection with the execution of the credit facility, the Company paid a $20,000 fee. Additionally, upon its initial borrowing on the facility, the Company will issue Access a warrant to purchase $50,000 in shares of the Company’s common stock with an exercise price equal to the 20 day trailing average closing price from the date of the initial borrowing.

The terms of the facility and related documents are contained in a Current Report on Form 8-K filed with the SEC.

About Jones Soda Co. Headquartered in Seattle, Washington, Jones Soda Co.(R) /quotes/zigman/83758/quotes/nls/jsda JSDA +2.70% markets and distributes premium beverages under the Jones Soda, Jones Pure Cane Soda(R) and WhoopAss Energy Drink(R) brands and sells through its distribution network in markets primarily across North America. A leader in the premium soda category, Jones is known for its variety of flavors and innovative labeling technique that incorporates always-changing photos sent in from its consumers. Jones Soda is sold through traditional beverage retailers.