Category: Cannabis

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Canadian Mergers and Acquisitions: FAQs and 2018 Trends

February 16, 2018

Our Canadian Mergers and Acquisitions: FAQs and 2018 Trends answers frequentlyasked questions regarding the regulation of public M&A in Canada and provides anoutlook for what 2018 may hold based on significant developments we observedfrom the Canadian deal environment in 2017.

Back in “Sessions”: CSA Reaffirms Disclosure-Based Approach For Canadian Reporting Issuers with U.S. Cannabis-Related Business Activities

February 12, 2018

On February 8, 2018, the Canadian Securities Administrators (CSA) released a highly anticipated notice clarifying the CSA’s position regarding issuers with cannabis-related activities in the United States. The revised staff notice reaffirms the CSA’s disclosure-based approach and sets out additional disclosure expectations for issuers with U.S. cannabis-related activities. The notice follows the CSA’s previously released statement on January 12, 2018,…

B.C. Provides Update Relating to Retail and Wholesale Distribution of Non-Medical Cannabis

February 7, 2018

On February 5, 2018, the British Columbia government supplied additional insight into its proposed retail and wholesale distribution framework for non-medical cannabis through the release of its Private Retail Licensing Guide (Guide) and Liquor Distribution Branch Information Sheet. The B.C. government has noted that, while these publications set out its intentions for B.C.’s retail framework, this framework is subject to…

B.C. Announces Key Policies Relating to the Legalization of Recreational Cannabis

December 6, 2017

On December 5, 2017, the British Columbia government unveiled details on how recreational cannabis will be purchased, distributed and sold in the province, once legalized, which is expected to happen in July 2018. The B.C. government’s decisions follow the province’s consultation with nearly 50,000 British Columbians, 141 local and Indigenous governments and a range of other stakeholders. POLICY DECISIONS The…

Alberta Introduces New Legislation to Regulate Recreational Cannabis

November 17, 2017

On November 16, 2017, the Government of Alberta introduced Bill 26, An Act to Control and Regulate Cannabis (Bill), which contains the proposed regulatory framework for recreational cannabis sales in Alberta. The Bill seeks to amend the Gaming and Liquor Act (GLA) to govern the purchase, distribution, sale and consumption of recreational cannabis in the province and proposes a hybrid…

Quebec Introduces New Legislation to Regulate Recreational Cannabis

November 16, 2017

On November 16, 2017, the Government of Quebec tabled Bill 157, an Act to constitute the Société québécoise du cannabis, to enact the Cannabis Regulation Act and to amend various highway safety-related provisions (Bill), before the National Assembly of Quebec, to establish regulations governing the sale, distribution, cultivation and use of cannabis in the province. More specifically, the Bill constitutes…

Federal Government Proposes Excise Duties for Cannabis Producers

November 13, 2017

On November 10, 2017, the federal department of finance issued long-awaited legislative and regulatory proposals for the taxation of cannabis. Effectively, the proposed rules will place cannabis producers within the existing rules that currently apply excise duties on tobacco, wine and spirits producers under the Excise Act, 2001 (Canada) (Act), with modifications as applicable. These rules include a new tax…

Protecting Cannabis Strains in Canada: A Growing Concern

October 26, 2017

Entrepreneurs and investors are quickly seeking to capitalize on what has been coined the “Green Rush” to the cannabis market. Those who finance, develop, produce and sell cannabis or cannabis derivatives should be cognizant of the intellectual property rights that are available in such products, as well as the risks of violating the rights of others. Plant breeders’ rights (PBRs),…

CSA, TSX Address Treatment of Canadian Reporting Issuers with U.S. Cannabis-Related Business Activities

October 17, 2017

On October 16, 2017, the Canadian Securities Administrators (CSA) and the Toronto Stock Exchange (TSX) released staff notices regarding their respective treatment of issuers with cannabis-related activities in the United States. Canadian reporting issuers with U.S.-related cannabis activities have long been uncertain of their treatment by the CSA and the TSX given the conflict between U.S. federal and certain state…

Cannabis M&A: Overview of Strategies for Buying or Selling a Business

October 10, 2017

As Canada gears up to legalize cannabis for recreational use (expected by July 2018), companies operating in the sector and those in ancillary markets are looking to raise capital to fund their business plans and expected expansions, some with an eye on opportunities to raise public capital for growth through acquisition. A significant milestone for many companies in a growth…

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