Mr. James Carbonara reports

JONES SODA CO. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Jones Soda Co. has closed the first tranche of its previously announced Canadian non-brokered private placement of 606,530 units of the company at a price of 33 U.S. cents per unit for aggregate gross proceeds of approximately $200,155 (U.S.).

Each unit is composed of: (i) one common share in the capital of the company; and (ii) one-half of one common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one share at an exercise price of 45 U.S. cents per warrant share for 36 months following the completion of the offering. If, at any time prior to the expiry time, the closing trading price of the underlying common shares on either the OTCQB Venture Market, or other stock exchange or over-the-counter market in the United States where the common shares are then trading, exceeds 47 U.S. cents (provided that such price shall be adjusted in the same manner as the exercise price as provided for in the terms of the warrants) for a period of five consecutive trading days, the company may deliver a notice to the holders of outstanding warrants accelerating the expiry time of the warrants to the date that is 30 calendar days following the date of such notice, and if an acceleration event occurs, any unexercised warrants will automatically expire at the end of the accelerated exercise time.

The company intends to use the net cash proceeds of the offering to support growth and for general corporate purposes.

Insiders participated in $100,000 of this tranche. The chief financial officer of the company participated in this tranche.

The units and the underlying securities issued pursuant to the offering will be subject to a four-month-plus-one-day hold period from closing of the offering in accordance with applicable securities legislation and completion is subject to receipt of applicable regulatory approvals, including the approval of the Canadian Securities Exchange.

Important notice

This news release is being issued in compliance with the disclosure requirements of the Canadian Securities Exchange and is directed solely to persons in jurisdictions in which the distribution of this information is not prohibited or restricted by law.

About Jones Soda Co.

Jones Soda Co. is a leading craft soda manufacturer. The company markets and distributes premium craft sodas under the Jones Soda brand. Jones Soda's mainstream soda line is sold across North America in glass bottles, cans and on fountain through traditional beverage outlets, restaurants and alternative accounts. The company is headquartered in Seattle, Wash.

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