Dec. 02, 2022 – In an article published in The Hill Times (available to subscribers), Natasha MacParland and Robin Schwill say insolvencies in the crypto sector raise issues already seen in cannabis bankruptcies. Natasha and Robin note they are looking for the federal government to modernize Canada’s...
Cannabis
Governance in a Nascent Industry: Lessons from Canada’s “Green Rush”
Oct. 05, 2020 – In the two years that have passed since Canada became the first industrialized country to legalize recreational cannabis use, the industry has experienced unprecedented levels of growth and interest, a phenomenon widely referred to as Canada’s “Green Rush.” Such rapid development, however, has not...
Natalie Renner Speaks to The Globe and Mail About Legislative Shortcomings in Cannabis Insolvencies
Jan. 10, 2020 – With a wave of cannabis insolvencies likely on the horizon, The Globe and Mail ’s Report on Business Cannabis Professional featured Natalie Renner in an article (available to subscribers) about hurdles caused by gaps in the existing bankruptcy laws. The biggest unresolved issue is the fact...
Patricia Olasker Discusses Cross-Border Cannabis Connection in Law 360
Dec. 06, 2019 – A year after the legalization of recreational cannabis in Canada, Law 360 turned to Patricia Olasker for her expert insights on how the interplay between the Canadian and U.S. markets is playing a major role in the evolution of the cannabis sector. In the article (available to subscribers),...
Natalie Renner Speaks to BNN Bloomberg About Regulatory Hurdles in Cannabis Insolvencies
Dec. 05, 2019 – In an interview with BNN Bloomberg, Natalie Renner offers her perspective on the state of the current cannabis legislation and why the inability to transfer licenses creates significant complications for cannabis producers facing insolvency. Watch the interview .
Canadian Securities Authorities Address Cannabis Issuers’ Conflicts of Interest
Nov. 13, 2019 – Staff of the securities regulatory authorities in Ontario, British Columbia, Québec, New Brunswick, Saskatchewan, Manitoba and Nova Scotia (collectively, Staff) has released CSA Multilateral Staff Notice 51-359 ‒ Corporate Governance Related Disclosure Expectations for Reporting Issuers in the...
Québec Increases Minimum Age for Cannabis Consumption to 21
Nov. 12, 2019 – The Québec government recently ratified an Act to tighten the regulation of cannabis (Act), marking its latest action to impose stricter rules on cannabis consumption than those set out by the federal government. Beginning on January 1, 2020, persons under the age of 21 will be prohibited from...
Brian Kujavsky Speaks to Canadian Lawyer About Québec’s Proposed Regulations on Cannabis Edibles
Oct. 18, 2019 – Canadian Lawyer recently featured Brian Kujavsky ’s perspectives on the Québec government’s plan to restrict the sale of cannabis edibles in the province. In the article , Brian explains why Québec has taken a more stringent approach to cannabis than other jurisdictions and shares his...
Brian Kujavsky Speaks to The Lawyers Daily on Québec Homegrown Cannabis Ruling
Sept. 17, 2019 – The Lawyer’s Daily recently featured Brian Kujavsky ’s insights on the implications of the Québec Superior Court’s ruling striking down the provincial ban on homegrown cannabis, including a possible constitutional legal battle over the sale of cannabis edibles. In the article (available to...
Québec Court Rules Restriction on Growing Cannabis at Home Is Unconstitutional
Sept. 10, 2019 – As a result of a recent decision of the Québec Superior Court (QSC) in Murray Hall c. Procureure générale du Québec 1 , residents in Québec are no longer prohibited from growing or possessing cannabis plants at home for personal purposes. Under the Cannabis Regulation Act 2 , possessing...
Couche-Tard Makes Strategic Investment in Cannabis Retailer Fire and Flower
July 26, 2019 – Davies assisted its client, Alimentation Couche-Tard Inc., in accelerating its move into Canada’s flourishing cannabis sector through a strategic investment in Fire & Flower Holdings Corp., a leading independent cannabis retailer based in Edmonton, Alberta. Couche-Tard’s initial $25.9-million...
Patricia Olasker Discusses Cannabis Industry Shakeout with Mergermarket
July 17, 2019 – In a recent interview with Mergermarket (subscribers only), Patricia Olasker discusses structural changes to the cannabis industry and their likely impact. With the 2018 U.S. Farm Bill decriminalizing hemp, U.S. -based investors and banks are funding hemp and CBD companies, reducing their...
Patricia Olasker Speaks to The Globe and Mail about the Implications of the CannTrust Investigation
July 16, 2019 – In an interview with The Globe and Mail (subscribers only), Patricia Olasker commented on the impact of Health Canada’s investigation into CannTrust for regulatory non-compliance as a result of cultivating cannabis in unlicensed rooms. “Any lawyer you talk to will say they have a number of...
Elisa Kearney Joins Cannabis Working Group
July 15, 2019 – Elisa Kearney will be lending her expertise as a member of the newly launched National Cannabis Working Group, an advocacy group established by the Canadian Chamber of Commerce to boost Canada’s competitiveness in the sector. The group, which spans the financial, legal, construction and...
Patricia Olasker Speaks About Shareholder Activism in Canada on The Activist Insight Podcast
June 27, 2019 – In an interview with The Activist Insight Podcast , Patricia Olasker speaks about the current climate of shareholder activism in Canada – most notably in the cannabis and mining sectors – and how companies can defend themselves against short-selling attacks. While the nascent cannabis industry...
June 17, 2019 – Health Canada has released the final regulations (Regulations) that will govern cannabis edibles, extracts and topical products. The Regulations will come into force on October 17, 2019, in substantially the same form as the draft regulations published by Health Canada in December 2018. Market...
Brian Kujavsky Highlights Key Issues for Cannabis Investors in Hedge Fund Law Report
June 14, 2019 – In a recent interview with Hedge Fund Law Report (available to subscribers), Brian Kujavsky outlined key considerations for investors seeking to enter the cannabis space. Brian believes there are two reasons why investors might choose to invest in the United States rather than Canada. ...
Brian Kujavsky Speaks to Hedge Fund Law Report on Investing in Cannabis
May 30, 2019 – Brian Kujavsky was interviewed recently by Hedge Fund Law Report , a leading news service on hedge fund law and regulation, for an article (available to subscribers) on investing in the cannabis industry. Brian commented on the former U.S. Attorney General Jeff Sessions’ rescission of all...
The Return of the Reverse Takeover
May 21, 2019 – The following article was originally published in our 2019 Canadian Capital Markets Report . Read the complete report . Following Canada’s legalization of recreational cannabis in 2018, Canadian capital markets have proven to be fertile ground for the financing of issuers in the cannabis...
TSX-Listed Cannabis Issuers Creatively Preserve U.S. Opportunities
May 21, 2019 – The following article was originally published in our 2019 Canadian Capital Markets Report . Read the complete report . While cannabis legalization in Canada captured international headlines in 2018, many cannabis issuers continued to pursue business opportunities in the competitive and vastly...
Cannabis Industry Continues to Roll
May 21, 2019 – The following article was originally published in our 2019 Canadian Capital Markets Report . Read the complete report . The cannabis industry has been one of Canada’s most talked-about sectors over the past 24 months, headlined by a handful of significant M&A transactions and cross-border...
2019 Canadian Capital Markets Report
May 21, 2019 – The year 2018 witnessed ongoing volatility in global markets, fuelled by geopolitical uncertainty, rising trade tensions and slowing world economies. In Canada, emerging market sectors continued to gain steam, most notably the cannabis industry, which experienced a dramatic uptick in investment...
May 10, 2019 – In a significant departure from past practice, Health Canada will now require prospective applicants for cannabis cultivation, processing or medical sales licences to have fully built regulatory-compliant facilities before it will review and process their licence applications. Health Canada...
Patricia Olasker Speaks to Lexpert on Growth of Cannabis Industry
May 01, 2019 – In an article published in the Lexpert Special Edition – Canada’s Leading Corporate Lawyers , Patricia Olasker shares her thoughts on the evolution and future of M&A in Canada’s cannabis sector. “It’s certainly a very exciting” period in cannabis M&A, Patricia says, adding that because the big...
TSX Launches Sandbox Initiative for Issuers That Do Not Satisfy Standard Listing Conditions
Apr. 17, 2019 – In its April 12, 2019 Staff Notice (2019-0002), the Toronto Stock Exchange (TSX) announced a framework to govern the exercise of its discretion to accept listing applications that do not satisfy the TSX’s listing conditions. The guidance in Staff Notice 2019-0002 covers both initial applications...
Patricia Olasker Discusses Shifting Trends in Cannabis Activism with Corp Gov
Apr. 05, 2019 – In an interview with Corp Gov , Davies partner Patricia Olasker shared her predictions on how she expects activism and dealmaking activity in the cannabis industry to evolve over the next year and the types of companies that might find themselves in the crosshairs. Patricia points out that...
2019 Federal Budget: Tax Highlights
Mar. 19, 2019 – Budget 2019 is the last federal budget of the current Liberal government before the upcoming federal election in October 2019. Tax-related measures are intended to advance the government’s stated priority of creating a fair tax system. Proposals include changes to the employee stock option rules,...
Mar. 05, 2019 – In an article (available to subscribers) published this week in The Globe and Mail , Davies partner Patricia Olasker shared her insights about the changing M&A landscape in the Canadian cannabis space. In contrast to the focus on domestic acquisitions one year ago, cannabis dealmakers are now...
Canadian and U.S. Tax Laws: A Review of 2018 and a Look Ahead to 2019
Jan. 31, 2019 – In our annual Tax Review and Outlook report, we look back at significant developments in the Canadian and U.S. tax landscapes in 2018 and offer our predictions on what to expect in 2019. Key Canadian Developments in 2018 Budget 2018 scaled back controversial initiative on taxation of...
Canadian Tax Laws: A Review of 2018 and a Look Ahead to 2019
Jan. 31, 2019 – Each year at this time we offer a look back at some of the more significant income tax developments in Canada affecting domestic and international business over the past year and a look ahead to possible Canadian tax developments in the coming year. Legislative Developments in 2018 Budget 2018 ...
Patricia Olasker and Brian Kujavsky Profiled as Top Cannabis Lawyers by Business Insider
Jan. 11, 2019 – An article published this week in Business Insider features Davies partners Patricia Olasker and Brian Kujavsky among a select group of lawyers who have cut a trailblazing path into the booming cannabis industry. The article describes how Davies’ involvement in the industry was driven by...
Davies Tops the List of Firms in Cannabis M&A Deals
Dec. 21, 2018 – An article published this week on IPO Edge and Yahoo Finance on the booming cannabis M&A market has called Davies the “go-to firm for cannabis,” leading all other law firms by a wide margin for M&A deals in the cannabis space. According to Dealogic, Davies topped the list of firms for cannabis...
Hemp-Derived CBD: United States Liberalizes Regulation
Dec. 13, 2018 – While much of the focus recently has been on Canada’s recreational cannabis industry, the United States has made a progressive move of its own, approving legislation that will remove industrial hemp from the definition of “marihuana” under the federal Controlled Substances Act (CSA). The 2018 ...
Why the Cannabis Act Should Make Company Stakeholders Nervous
Nov. 28, 2018 – The following op-ed was originally published in The Globe and Mail . Last month, Canada became the first G7 country to legalize recreational cannabis nationwide, fulfilling the promise first announced by the Liberal government on the campaign trail in 2015. In the months leading up to...
Nov. 28, 2018 – In an op-ed published in The Globe and Mail , Davies partner Natalie Renner writes that the Canadian cannabis industry’s regulatory framework is unprepared for the industry’s projected commercial growth and inevitable failures. Read the full article.
Patricia Olasker Speaks to Bloomberg About Davies’ Role in Canada’s Cannabis Market
Nov. 27, 2018 – In an article published recently in Bloomberg , Davies partner Patricia Olasker speaks about Davies’ involvement in Canada’s booming cannabis industry. Davies ranks first among its peers for working on $5.8 billion worth of cannabis M&A this year, including advising the shareholders of...
Oct. 25, 2018 – In articles published recently in The Globe and Mail (available to subscribers) and in the Report on Business Cannabis Professional newsletter, Davies partner Patricia Olasker speaks about the U.S. government’s clarification that Canadians employed in the cannabis industry are allowed...
Legalization of Cannabis: A Guide for Employers
Oct. 19, 2018 – With the legalization of recreational cannabis as of October 17, 2018, Canadian employers must be prepared to understand their rights and responsibilities vis-à-vis their employees. Substance and Drug Use Policy Employers are encouraged to adopt or amend their substance and drug use policies to...
Oct. 19, 2018 – Davies Governance Insights 2018 is cited in a Globe and Mail article about shareholder activism in the cannabis industry, as part of its Cannabis Professional series. The article cites the subsection of the Davies’ report, “Activism in the Cannabis Space: The Next Weed War?,” which warns...
Davies Governance Insights 2018
Oct. 03, 2018 – Davies’ annual Governance Insights reports analyze the top governance trends and issues important to Canadian boards, senior management, in-house counsel and governance observers. In the 2018 edition, we shine the spotlight on the following issues that shaped the corporate governance landscape...
Elliot Greenstone Speaks to Les Affaires About New and Emerging Business Sectors in Québec
Sept. 27, 2018 – In an article published recently in Les Affaires (in French), Davies partner Elliot Greenstone shares his insights on how a firm like Davies can best serve clients in innovative business sectors emerging in Québec. According to Elliot, keeping current requires not only being ready to assist...
Patricia Olasker Quoted in Wall Street Journal About Cannabis Stock Craze
Sept. 25, 2018 – Davies partner Patricia Olasker spoke recently with the Wall Street Journal about the ongoing cannabis stock craze being fuelled by entrepreneurs and investors rushing headlong into the nascent industry, in what some are likening to the late 1990s dot-com bubble and the recent bitcoin mania. ...
Patricia Olasker Quoted in Lexpert Feature on Cannabis M&A
July 25, 2018 – Davies partner Patricia Olasker spoke recently to Lexpert about M&A activity in Canada’s burgeoning cannabis industry, beginning with Aurora Cannabis Inc.’s unsolicited takeover bid of CanniMed Therapeutics Inc. in November 2017. Patricia described how the firm became involved in the...
Apr. 02, 2018 – In an article published on Tuesday in The Globe and Mail (available to subscribers), Davies partner Patricia Olasker spoke about the lasting impact that the Aurora/CanniMed decision is expected to have on hostile takeover bids in all industries, particularly with respect to the use of...
Patricia Olasker Discusses Regulators’ Reasons in Aurora/CanniMed Decision in National Post Article
Mar. 23, 2018 – In an article published on Wednesday in the National Post , Davies partner Patricia Olasker discusses the highly anticipated reasons that were released by the Ontario and Saskatchewan securities commissions in the Aurora Cannabis Inc. /CanniMed Therapeutics Inc. hostile takeover. Patricia...
Feb. 02, 2018 – Speaking to the Financial Post , Davies partner Patricia Olasker discussed the issues the legal and financial community hopes will be addressed in the written reasons behind the Ontario and Saskatchewan securities commissions’ December 22 order blocking CanniMed’s poison pill. Patricia noted...
Investment Considerations for the Cannabis Industry: Spotting the Red Flags
Nov. 22, 2017 – The recent $245-million investment by Constellation Brands, a NYSE-listed producer of beer, wine and spirits, in TSX-listed Canopy Growth focused attention across North America on the Canadian cannabis industry. The announcement of the approximately 9.9% investment on October 30, 2017 drove Canopy...
Québec Releases Framework for Recreational Cannabis
Nov. 21, 2017 – The Canadian government is going full steam ahead with its plans to legalize cannabis for recreational purposes in July 2018, but it has left some of the toughest decisions relating to the sale, distribution, cultivation and promotion of cannabis to the provinces and territories. As a result, a...
