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News and Events

Cassels Brock Innovates with Cross-Border Cannabis Deal

Publish: 06/20/2019

Cassels Brock has been mentioned as an innovator in the article “Acreage Shareholders Approve Sale to Canopy” published by the Globe & Mail.

The article looks at the cannabis industry’s first major cross-border deal which received shareholder approval on June 19 with shareholders of both Canopy Growth Corp. and US marijuana firm Acreage Holdings Inc. voting overwhelmingly in favour of a partnership between the two companies.

Writes Chris Wattie: “The deal’s complicated structure is mostly due to stock exchange listing rules. Because cannabis remains federally illegal in the US, major exchanges such as the Toronto Stock Exchange, New York Stock Exchange and Nasdaq Exchange won’t let listed companies participate directly in US cannabis business, even in states that have legalized the drug at a local level. The deal structure, put together by lawyers at Cassels Brock & Blackwell LLP, is being studied by other cannabis firms on both sides of the border.”

Read the full article here. (Subscription required.)