Company: JSDA
Filing Date: 2025-05-12
Form Type: 8-K
Source: 0001641172-25-009663
Chunk: 0

Company: JONES SODA CO.
Filing Date: 2025-05-12
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01 Entry into a
Material Definitive Agreement.

Effective May 7,
2025, Jones Soda Co. (the “ Company”) issued an unsecured promissory note to Paul Norman, the Chairman of the
Company’s board of directors, in the aggregate principal amount of $450,000 (the “ Note”). The maturity date of the
Note is October 10, 2025 (the “ Maturity Date”). Interest on the unpaid principal balance of the Note accrues at 12% per
annum, payable on the Maturity Date. In addition to the principal balance, the Company agreed to pay a loan origination fee of
$22,000 to Mr. Norman, due on the Maturity Date. The foregoing description of the Note is a summary and is qualified in its entirety
by reference to the full text of the Note, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is
incorporated herein by reference.

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Item 9.01 Financial Statements and Exhibits.