$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Mariam Ekram, Mai Cristina Lopez from Toronto, ON, pitched Kewaza in Season 11, Episode 20, asking the Dragons for $115K for 15% of the company.
- Asked for$115K for 15%
- Valuation$767Kimplied by the ask
- OutcomeDealwith Manjit Minhas
- Final deal$150K for 25%valued at $600K
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Jim Treliving | $150,000 for 33.3% of the company | Withdrawn |
| Michael Wekerle | $150,000 as debt with a royalty instead of equity | Declined |
| Michele Romanow | Out; found the product too sugary and the category too crowded | Out |
| Joe Mimran | Out; felt the boardroom is not a place for tears and wanted stronger composure | Out |
| Manjit Minhas | $150,000 royalty deal (7.5% royalty for 2 years, then 5% for 5 years), later revised to $150,000 for 25% equity | Accepted |
Mariam Ekram and Mai Cristina Lopez from Toronto pitched Kewaza, a certified organic, non-GMO, dairy-free, soy-free and gluten-free energy snack sold in six flavours, seeking $115,000 for 15%. The company started two and a half years earlier, grew from 50 to over 400 stores in the past year, and is projecting $610,000 in sales for its third year, after $80,000 and $140,000 in the first two years; the bags retail for $2.69 to $2.99 and cost 65 cents to make, and Mariam Ekram has personally invested $50,000 in the business.
After winning a battle round against Nomz, Kewaza received an initial royalty offer from Manjit Minhas, a $150,000 for 33.3% offer from Jim Treliving, and a debt-with-royalty option from Michael Wekerle, while Michele Romanow and Joe Mimran both went out over product taste and concerns about composure under pressure. Manjit Minhas revised her offer to $150,000 for 25% equity, prompting Jim Treliving to withdraw, and the founders accepted Manjit Minhas's equity offer.
Pitch details from CBC’s Dragons’ Den pitch page.
Kewaza today
- StatusOut of businessLast checked September 2026
Kewaza appears to have closed. Its products may no longer be available.