7 Fathoms

Courtney Howell and Terrence Howell, from Grates Cove, Newfoundland, asked for $100,000 for 12% of their company, 7 Fathoms, a seaweed skin care line made from wild North Atlantic seaweed that restores and protects the skin barrier. The company sells four products for hair, scalp, face, and body priced between $23 and $67, using an extraction process where roughly 60% of a bottle is active extract, compared to 1 to 3% typically used by other natural skincare brands; a product that costs $3.71 to make retails for $55. Last year's sales were just over $100,000, and the founders said 1,000 pounds of seaweed could generate $6.9 million worth of product; the requested funds were intended to match an ACOA grant to hire a marketer and to train employees in extraction and production.

Arlene Dickinson went out, saying the business was not yet ready for investment. Manjit Minhas offered $100,000 for 20% of the business, citing the emerging health category opportunity, which Courtney Howell and Terrence Howell accepted. Wes Hall, Brian Scudamore, and Michele Romanow all went out, expressing support for the founders and deferring to Manjit Minhas's offer.

7 Fathoms is still operating and sells through its website.