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Canada's leading organic energy drink brand aims to grow presence across North America by tapping into growing demand for healthier, plant-based alternatives
MONTREAL, Nov. 02, 2020 (GLOBE NEWSWIRE) -- GURU Organic Energy Corp. (TSX: GURU) (“GURU” or the “Company”), Canada’s leading organic energy drink brand, is pleased to announce the start of trading of its common shares on the Toronto Stock Exchange (the “TSX”), under the symbol “GURU”.
Prior to the TSX stock listing, the Company closed its $34.5 million financing on September 30, 2020, and its reverse takeover transaction with Mira X Acquisition Corp. on October 29, 2020, allowing it to trade today on Canada’s premier stock exchange.
“We are excited to begin this new adventure as a Canadian public company with a strong financial position, a proven strategy and a passionate team to execute our plan to expand across Canada and in the U.S.,” said Carl Goyette, President and Chief Executive Officer of GURU.
“GURU has established a meaningful brand and fast-growing market position in our home market of Quebec, which we aim to grow further in the coming years. We have also successfully grown our market share in larger markets and multiple sales channels where there is a growing appetite for organic, plant-based alternatives. With a significant Canadian and U.S. market opportunity and a proven go-to-market strategy, the future bodes well for GURU as we replicate our Quebec success to other jurisdictions and aim to create long-term value for our shareholders.”
In preparation for this first day of trading, GURU has launched an investor website and presentation that provide present and future investors with a complete picture of this new investment opportunity. The website and presentation can both be found at https://investors.guruenergy.com.
GURU (TSX: 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 guruenergy.com and Amazon. GURU has built an inspiring 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.
This press release may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Such forward-looking statements include, but are not limited to, information with respect to our objectives and the strategies for achieving those objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking statements are typically identified by the use of words such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, although not all forward-looking statements contain these words. Forward-looking statements are provided for the purposes of assisting the reader in understanding the Company and its business, operations, prospects and risks at a point in time in the context of historical and possible future developments, and the reader is therefore cautioned that such information may not be appropriate for other purposes. Forward-looking statements are based on assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking statements. Those risks and uncertainties include the following: continued uncertainty in the financial markets; an economic downturn; adverse changes in general economic or political conditions; the COVID-19 pandemic; fluctuations in foreign currency exchange rates; increased competition; reliance on energy drinks as our sole source of revenues; changes in consumer preferences; the changing retail landscape; significant changes in government regulation; criticism of energy drink products and/or the energy drink market; reliance on co-packers to manufacture our products; our ability to maintain good relations with our existing customers; increases in costs and/or shortages of raw materials, ingredients, fuel and/or co-packing; failure to accurately estimate demand for our products; loss of intellectual property rights; our ability to retain senior management or to maintain brand image or product quality; climate change; our ability to achieve and manage growth; conflicts of interest; litigation; and catastrophic events. Certain assumptions were made in preparing the forward-looking statements concerning availability of capital resources, business performance, market conditions and consumer demand. Consequently, all of the forward-looking statements contained herein are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking statements contained herein are provided as of the date hereof, and we do not undertake to update or amend such forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.
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