Jones Soda Co. has entered into a definitive agreement involving the issuance of an unsecured promissory note to Paul Norman, the Chairman of the company's board of directors. The note, amounting to $450,000, was effective as of May 7, 2025, and is set to mature on October 10, 2025. The note carries an annual interest rate of 12%, with interest and the principal balance due on the maturity date. Additionally, a loan origination fee of $22,000 is to be paid to Mr. Norman upon maturity.
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