On October 29, 2020, GURU Beverage Inc. (GURU) completed a reverse takeover of Mira X Acquisition Corp. The reverse takeover was structured as a series of transactions, including a Canadian three-cornered amalgamation transaction.

Prior to the completion of the business combination, GURU completed a brokered subscription receipt financing at a price of $5.45 per subscription receipt for aggregate gross proceeds of approximately $34.5 million. In addition to the private placement, certain shareholders of GURU offered and sold to new investors, on a prospectus exempt basis, approximately $5.3 million of GURU common shares, held by them, by way of a secondary offering. A syndicate led by Stifel Nicolaus Canada Inc., which included CIBC World Markets Inc. and Laurentian Bank Securities Inc, acted as agents on the financing and the secondary offering.

The resulting issuer from the reverse take-over changed its name to “GURU Organic Energy Corp.” (the Resulting Issuer). Trading in the common shares of the Resulting Issuer commenced on November 2, 2020 on the Toronto Stock Exchange under the symbol “GURU”.

Dentons acted for the syndicate of agents led by Stifel Nicolaus Canada Inc. with a team led by Scott Rozansky and composed of Marc-André Bélanger, Walter Van Dorn, Philippe Bergeron, David Gravel and Nicole Dunbar.

More information about GURU’s $34.5 million financing and reverse takeover transaction can be found in the press release dated September 30, 2020, Mira X’s release dated October 22, 2020 and the article in La Presse published on October 5, 2020.

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