$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Joey Drouin Mike Drouin from Victoria, BC and Ottawa, ON, pitched Reefertilizer in Season 15, Episode 1, asking the Dragons for $100K for 10% of the company.
- Asked for$100K for 10%
- Valuation$1Mimplied by the ask
- OutcomeNo deal
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Arlene Dickinson | Valuation did not make sense given the numbers; no offer | Out |
| Manjit Minhas | Numbers did not add up for someone claiming accounting experience; no offer | Out |
| Vincenzo Guzzo | Numbers and ratios did not make sense; no offer | Out |
| Michele Romanow | Saw creativity but not the numbers; no offer | Out |
| Jim Treliving | Numbers did not make sense; no offer | Out |
Mike Drouin, from Victoria, and Joey Drouin, from Ottawa, pitched Reefertilizer, a three-step nutrient and fertilizer system for growing cannabis at home, asking for $100,000 for 10%. The kit sells for $64.95 plus $15 shipping, with a product margin of 77% that drops to a 53% gross margin after shipping costs; they said they would lose about $8,000 shipping to the U.S. this year. They projected over $200,000 in sales and $55,000 in profit for the year, had raised $100,000 for 15% in 2018, and were seeking a $1 million valuation while projecting $800,000 in sales for the following year and expansion into the United States.
Arlene Dickinson went out, saying the valuation did not make sense given the numbers. Manjit Minhas and Vincenzo Guzzo both questioned Joey Drouin's accounting background given inconsistencies in the numbers and went out. Michele Romanow said she saw creativity but not solid numbers, and Jim Treliving also went out over the numbers not making sense. No deal was made.
Pitch details from CBC’s Dragons’ Den pitch page.
Reefertilizer today
- StatusStatus unknownLast checked September 2026
We haven’t confirmed whether Reefertilizer is still operating.