$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Geoff White from Penticton, BC, pitched CanGenX BioTech in Season 13, Episode 5, asking the Dragons for $250K for 5% of the company.
- Asked for$250K for 5%plus a royalty
- Valuation$5Mimplied by the ask
- OutcomeNo deal
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Jim Treliving | Felt Geoff White was not proven as a businessman and the royalty offer had no basis yet | Out |
| Michele Romanow | Wanted equity in the whole company, not just one product; declined | Out |
| Arlene Dickinson | Considered the deal structure poorly thought out for the Dragons | Out |
| Manjit Minhas | Concerned about lack of clear return and rigid deal structure | Out |
| Vincenzo Guzzo | Questioned Geoff White's business readiness and lack of background checks | Out |
Geoff White, from Penticton, British Columbia, asked for $250,000 for a 5% royalty on net sales over five years for CanGenX BioTech, maker of Mantis Buffered Nutrients, a concentrated cannabis-specific fertilizer developed in a Health Canada-approved lab. The product retails for $149.95 per litre and one litre is enough for ten plants through a full growth cycle; the company has four products in total but Geoff White valued the whole company at $20 million and retained 100% ownership, seeking only a royalty on this one product to gain access to retail chains like Canadian Tire and Home Hardware.
The Dragons felt the offer structure was unfavourable, since the Dragons would only benefit from one product for five years while Geoff White retained full ownership and all long-term upside. Arlene Dickinson, Michele Romanow, Lane Merrifield, Manjit Minhas, Jim Treliving, and Vincenzo Guzzo all declined to invest, citing the rigid deal terms, lack of business experience, and unproven royalty potential. No deal was made.
Pitch details from CBC’s Dragons’ Den pitch page.
CanGenX BioTech today
- StatusOut of businessLast checked September 2026
CanGenX BioTech appears to have closed. Its products may no longer be available.