Two deals tonight going forward to the due diligence stage. See below for my comments.
Good to read from Brett’s Twitter feed that CBC Dragons’ Den has 1.3 million views for season 4 episode 1, and then 1.5 million for episode 2. The show should make some good and needed money for CBC (and CBC can really use the money).
Product Miners Lunchbox
Pitcher Catherine Langin
Hometown Sudbury, ON
Ask 150K for 30%
Description A Sudbury woman hopes to whet the Dragons’ appetite with her father’s historic metal lunchbox.
My Comments: 50K cash and 100K loan (provided with good terms and protection) should be a good deal for Brett. The deal is probably also good for Catherine to get some cash out (though not much) and a needed loan to make the products (I think?). I hope this will be a win-win deal for Catherine and Brett.
Note: Depending on how the loan is structured, and how well the company is run, I am not sure if it will be a win for Brett if he ends up owning the brand if the company defaults on the loan. Lets think positive. :)
Product Cavena Nuda
Pitcher Scott Sigvaldson
Hometown Winnipeg, MB
Ask 250K for 20%
Description A Winnipeg, MB farmer needs seed money to bring his new grain from the field to the food industry.
My Comments: 250K for 50% of the company (?). Jim’s Boston Pizza and food industry experience should work out great for Scott. This deal has all the ingredients for a win-win outcome. I am interested to see how this deal will turn out. Best of luck to Scott and Jim.