SEATTLE, March 7, 2001 (PRIMEZONE) -- Jones Soda Co. (the "Company" or "Jones Soda") (OTCBB:JSDA) (CDNX:JSD) announced the reorganization of its brand groups and incorporated Whoopass USA, Inc, as a wholly owned subsidiary of Jones Soda, Co.
As part of a plan to maximize the potential of its key brands, Jones Soda Co. has restructured the Jones and Whoopass family of beverage products.
Products under the Jones brand include a carbonated soda (Jones Soda), an energy drink (Jones Energy), and a non-carbonated line of juices and teas (Jones Naturals). In order to promote a clearer and more integrated brand image, the Company has relabeled its Jones juice and tea products to resemble the current black and white soda labeling that has been synonymous with the brand since inception. The Company has also renamed the product "Jones Naturals."
In conjunction with the reorganization, the Company has incorporated Whoopass USA, Inc. as a wholly owned subsidiary of Jones Soda Co and named Matt Hughes as President of Whoopass USA. Whoopass USA will include the existing Whoopass Energy Drink, as well as the newly launched Whoopass Energy Shots. Whoopass Energy Shots, which are concentrated energy supplements in a 1 ounce container, will be available in stores in March 2002.
Peter van Stolk, President & CEO, stated, "We are moving toward a structure in which each brand carries its own strategy and will become its own profit center. This new structure allows both of our brands to better maximize their potential, while also benefiting from the many synergies and economies of scale tied to the businesses. This reorganization focuses our strengths and puts us in a better position to achieve our long-term strategic objectives of growth and profitability."
Mr. van Stolk, concluded, "This is an important step for our company as we look to further streamline operations, better align brand development and maximize new business opportunities across our portfolio of assets."
Headquartered in Seattle, Washington, Jones Soda Co., manufactures its Jones Soda, Jones Jones Juice, Jones Energy and Whoopass brands and sells it through its distribution network in select markets across North America. A leader in the premium soda category, Jones is known for its innovative labeling technique that incorporates always-changing photos sent in from its consumers. Jones Soda is sold through traditional beverage retailers and everywhere you'd never expect to find a soda.
Statements in this press release, and elsewhere, that look forward in time or include anything other than historical information involve risks and uncertainties that may affect the Company's actual results of operations. Statements contained in this release regarding the Company's anticipated future results of operations, and on the Company's ability to expand its Jones Soda and Jones Soda Whoopass brands are "forward-looking statements" as the phrase is defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements by the Company are subject to certain risks, including future demand for Jones Soda and Jones Soda Whoopass, competition from other businesses providing similar products and the Company's ability to successfully execute its business strategy. Those risks and uncertainties are discussed in more detail in the Company's periodic reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended.
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