Novel Drinks5 Oct 2020 13:07
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MONTREAL, Sept. 30, 2020 (GLOBE NEWSWIRE) -- GURU Beverage Inc. (“GURU” or the “Company”) is pleased to announce the closing of the previously announced brokered private placement of 6,330,750 subscription receipts at $5.45 per receipt for gross proceeds of $34.5 million, completed through a syndicate of agents led by Stifel Nicolaus Canada Inc., and including CIBC World Markets Inc. and Laurentian Bank Securities Inc.
The financing was completed in anticipation of GURU`s going public transaction by way of reverse takeover involving Mira X Acquisition Corp. (TSXV: MIRA.P), subject to Mira X’s shareholder approval on October 28, 2020 and other conditions to closing of the going public transaction.
“We are extremely pleased with the strong interest shown by institutional investors in Canada and the U.S., as well as Canadian retail investors,” said Carl Goyette, President and CEO of GURU. “This capital raise will support our mission to clean up the energy drink industry, a growing industry valued at over US$15 billion(1), by expanding our presence across North America. Over the last three years, we have more than doubled sales of our GURU organic energy drinks in Quebec, and we intend to replicate that success in the rest of Canada and the U.S.”
“As we prepare for our going public transaction and embark on our new expansion journey, a number of major U.S. conventional grocery and retail stores have already introduced our products in their stores, and we have commitments for other targeted launches in the rest of Canada and the U.S. for 2021. In the meantime, we continue to invest in promoting our GURU brand through various marketing initiatives, including the Quebec launch in the coming weeks of a new plant-based energy drink,” added Mr. Goyette.
In addition to the private placement, certain shareholders of GURU will be offering and selling, on a prospectus exempt basis, approximately $5.3 million of GURU common shares held by them by way of a secondary offering to new investors prior to the closing.
About GURU
GURU is a dynamic, fast-growing beverage company launched in 1999, when it pioneered the world’s first natural, plant-based energy drink. The Company now markets organic energy drinks in Canada and across the United States through a distribution network of more than 15,000 points of sale. GURU has built a powerful brand with a clean list of organic plant-based ingredients. Its drinks offer consumers good energy that never comes at the expense of their health. The company is committed to achieving its mission of cleaning the energy drink industry in Canada and the United States. For more information about GURU, visit www.guruenergy.com.
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