The Company will gain access to a broader investor base on Canada's largest stock exchange.
MONTREAL, Oct. 22, 2020 (GLOBE NEWSWIRE) -- GURU Organic Energy Corp. (“GURU” or the “Company”) is pleased to announce that Mira X Acquisition Corp (“Mira X”) has received conditional approval from the TSX Venture Exchange (the “TSXV”) in respect of its qualifying transaction with GURU. In addition, GURU has received conditional approval from the Toronto Stock Exchange (the “TSX”) to graduate from the TSXV to the TSX immediately upon becoming a publicly-traded company, subject to the satisfaction of certain TSX listing conditions.
GURU intends to list its common shares on the TSX under the symbol “GURU” on or about November 2, 2020, following receipt of approval by Mira X shareholders on October 28, 2020 in connection with the reverse takeover transaction, and closing of the transaction.
“This is a major milestone for GURU, allowing us to list on Canada's largest stock exchange and gain access to an even broader investor base,” said Carl Goyette, President and Chief Executive Officer of GURU. “This approval, along with our $34.5 million oversubscribed financing, bodes very well for our stock market listing. We are squarely focused on capturing additional market share in Quebec and accelerating our expansion strategy in the rest of Canada and the United States. We are on a clear path to pursue our mission to clean up the energy drink space, in an industry valued at more than US$15 billion(1) with a growing appetite for organic, plant-based alternatives.”
More information about GURU’s $34.5 million financing and reverse takeover transaction can be found in our press release dated September 30, 2020 and Mira X’s release dated October 22, 2020.
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 markets organic energy drinks in Canada and across the United States through a distribution network of more than 15,000 points of sale and through Amazon and its own website. 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.
(1) Mintel, May 2020. Does not include the energy shots segment.
Forward-Looking Statements
This release includes forward-looking information within the meaning of Canadian securities laws regarding Mira X and GURU and their respective businesses, which may include, but are not limited to, statements with respect to the completion of the proposed transaction and private placement, the terms on which the proposed transaction and private placement is intended to be completed, the ability to obtain regulatory and shareholder approvals and other factors. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of each entity, and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release, including completion of the proposed transaction and private placement (and the proposed terms upon which the proposed transaction and private placement is proposed to be completed), may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the threat detection technology industry, market conditions, economic factors, management’s ability to manage and to operate the business of the Resulting Issuer and the equity markets generally. Although Mira X and GURU have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and neither Mira X nor GURU undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Investors
Carl Goyette
President and Chief Executive Officer, GURU
Ingy Sarraf
Chief Financial Officer, GURU
514-845-4878
investors@guruenergy.com
Media
Lyla Radmanovich
PELICAN PR
514-845-8763
media@rppelican.ca
Neither the TSX nor the TSX Venture Exchange Inc. has in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.