$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Justin, Gareth & Matt Schroenn from Vancouver, BC, pitched Zambezi Board in Season 12, Episode 15, asking the Dragons for $200K for 20% of the company.
- Asked for$200K for 20%
- Valuation$1Mimplied by the ask
- OutcomeDealwith Michael Wekerle
- Final deal$200K for 20%valued at $1M
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Joe Mimran | Out, would buy the product but not invest | Out |
| Arlene Dickinson | Out, too early for investment | Out |
| Manjit Minhas | Out, not excited by the idea | Out |
| Michele Romanow | Out, wants more market validation | Out |
| Michael Wekerle | $200,000 for 20% plus an option on an additional 10% at the same valuation for two years | Accepted |
Justin, Matthew and Gareth Schroenn, brothers from Vancouver, British Columbia, asked for $200,000 for 20% of Zambezi Board, a swim board designed around the human body that lets users swim rather than simply lie flat, with storage for gear while swimming. The board costs about $450 to manufacture and was set to sell for $795, compared to roughly $2,000 for typical paddleboard setups with accessories; the brothers had invested about $220,000 in the business, including $180,000 raised from investors at the valuation they were pitching, and had just produced their first unit off the factory floor with no sales yet.
Joe Mimran said he would buy the product but did not want to invest, Arlene Dickinson felt it was too early for an investment, Manjit Minhas was not excited by the idea, and Michele Romanow wanted more market validation before investing. Michael Wekerle offered $200,000 for 20% plus an option on an additional 10% at the same valuation for two years, which the brothers accepted.
Pitch details from CBC’s Dragons’ Den pitch page.
Zambezi Board today
- StatusOut of businessLast checked September 2026
Zambezi Board appears to have closed. Its products may no longer be available.