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Shell Summary for Aug. 25, 2020

2020-08-25 20:26 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 9.49 points to close at 714.23 Tuesday. Ron Schmeichel's 20th capital pool shell, Mira X Acquisition Corp. (MIRA: suspended), plans to acquire a Montreal firm, 6384269 Canada Inc., doing business as Guru Beverage Co. or Guru Beverage Inc., for the shell's qualifying transaction. The acquisition terms are not yet available, but the shell plans to roll back its shares, perhaps at a ratio of 1 for 76.9.

Guru sells six kinds of plant-based energy drinks. It released the first one, Guru Organic Energy, in 1999. These are the plants that can be found in its energy drinks: green tea, matcha, ginseng, monk fruit, stevia, echinacea (a flower) and guarana (a Brazilian fruit-bearing plant that contains caffeine). The company sells its products on its website, on Amazon, and in some stores in Canada and the United States. A pack of 24 regular-size cans (355 millilitres) costs $62.99. A pack of 24 smaller cans (250 ml) costs $48.99. Guru Beverage plans to expand its sales. It is selling a $20-million private placement at $5.

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