Next Generation Partners

Cannabis in Canada

Bennett Jones LLP

Bennett Jones LLP had a hand in many of the largest cannabis deals to hit the market over the past year. In a highlight example, go-to cannabis transactional specialist Aaron Sonshine advised Cresco Labs on its $2bn acquisition of Columbia Care, which made Cresco the largest cannabis producer and retailer in the US at the time of the transaction. Toronto-based Sonshine co-heads the practice together with firm vice chair and Toronto managing partner Dominique Hussey, who specializes in advising cannabis clients on IP and regulatory matters; she notably provides ongoing regulatory advice to Canopy Growth. Other key contacts include corporate finance specialist Angela Blake, who splits her time between Toronto and Vancouver; Toronto’s Kim Lawton, who is well versed in cannabis-related capital markets and securities issues; and Toronto-based IP and life sciences partner Melissa Dimilta.

Practice head(s):

Aaron Sonshine; Dominique Hussey


Other key lawyers:

Angela Blake; Kim Lawton; Melissa Dimilta


Key clients

Canopy Growth Corporation


Cantor Fitzgerald Canada Corporation


Cresco Labs


Emerald Health Therapeutics


FIGR


Glass House Brands


Greg Guyatt


Indiva


KAOS Capital


MPX International Corporation


Nation to Nation (All Nations Cannabis)


Nova Cannabis


PharmaCielo Holdings


Praesidio Health


PricewaterhouseCoopers


RedeCan Pharm


Terrascend Corp


Trichome Financial Corp, Trichome JWC Acquisition Corp, MYM Nutraceuticals, Trichome Retail Corp, MYM International Brands, and Highland Grow


VIVO Cannabis


Work highlights


  • Advised Cresco Labs on its $2bn acquisition of Columbia Care.
  • Acted for RedeCan Pharm and 48North Cannabis Corp on their respective sales to HEXO Corp, totalling nearly $1bn.
  • Represented Mr Guyatt, the Chief Financial Officer of CannTrust, as a defendant in a multi-jurisdictional class action in Canada and the US, stemming from the disclosure of unlicensed cultivation discovered by a Health Canada audit.

Cassels Brock & Blackwell LLP

A first-mover in the cannabis space in Canada, Cassels Brock & Blackwell LLP is particularly sought after for its expertise in corporate finance matters. The full-service practice also shines in M&A, joint ventures, strategic partnerships and regulatory issues, with key industry players such as Canopy Growth and TerrAscend Corp routinely turning to the firm for support. Widely recognized as a leader in his field, department head Jonathan Sherman recently advised Canopy Growth on accelerating its entry into the US cannabis market through the creation of a new special purpose vehicle, Canopy USA LLC, and connected transactions totalling C$750m. The deep bench also includes Jamie Litchen, who specializes in securities and M&A; Daniel Cipollone, who sits in the banking and speciality finance group; corporate and securities partner Tayyaba Khan; and regulatory and IP specialist Chandimal Nicholas.

Practice head(s):

Jonathan Sherman


Other key lawyers:

Jamie Litchen; Daniel Cipollone; Tayyaba Khan; Chandimal Nicholas


Key clients

Canopy Growth Corporation


Bruce Linton (founder and former CEO of Canopy Growth, and currently an advisor and investor in a wide range of cannabis companies)


TerrAscend Corp


Eight Capital


Boston Beer Company


JW Asset Management


Ernst & Young


Sessions Cannabis


Lowell Farms


MedMen Enterprises


Avant Brands


YourWay Cannabis Brands


StateHouse Holdings


A1 Cannabis


Entourage Effect Capital


Blake, Cassels & Graydon LLP

Blake, Cassels & Graydon LLP’s multidisciplinary cannabis practice covers a broad range of transactional, regulatory and contentious work, with significant expertise in cross-border matters. Montreal-based corporate and commercial partner Tricia Kuhl co-heads the national group and recently advised Aphelion Real Estate on its C$11.5m acquisition of the shares and debt of 10252832 Canada (a subsidiary of Canopy Growth). Vancouver-based department co-head Kathleen Keilty is also noted for her experience in representing cannabis companies and investors on M&A and corporate finance transactions. Montreal-based associate Renée Tousignant provides support on IP, corporate, and commercial law issues.

Practice head(s):

Tricia Kuhl; Kathleen Keilty


Other key lawyers:

Renée Tousignant


Key clients

Rose Lifescience


PricewaterhouseCoopers


Globe-Cann. Worldwide Cannabis Consultants


Aphelion Real Estate (LB Becker Consulting)


Flower One Restructuring


Willow Biosciences


RIV Capital


Canadian Securities Exchange


L5 Capital


Work highlights


  • Advised Flower One Holdings, FO Labour Management and Flower One Corp on all aspects of the restructuring of Flower One.
  • Advised RIV Capital on the Canadian corporate, securities and tax aspects of its acquisition of Etain.
  • Provided commercial law advice to Rose Lifescience in connection with cannabis distribution, marketing and sale.

Gowling WLG

An increasingly prominent firm in the cannabis sphere, Gowling WLG added 11 new clients to its roster over the past year. Distinguished by its ability to lean on the wider firm’s signature IP offering, the team shines in regulatory and IP-related issues, with sources highlighting its ‘extraordinary level of unique regulatory knowledge’. It also houses a robust transactional practice, which recently saw Toronto-based Peter Simeon advise IM Cannabis Corp on three strategic acquisitions completed through IMC Holdings, a wholly owned subsidiary of IM Cannabis and IMC Pharma. Ottawa-based regulatory specialist Lewis Retik co-heads the practice alongside Simeon. Toronto-based IP partner Natalie Rizkalla-Kamel is also noted.

Practice head(s):

Peter Simeon; Lewis Retik


Other key lawyers:

Natalie Rizkalla-Kamel


Testimonials

‘Gowlings WLG has a very unique ability to provide quality regulatory advice in addition to providing product specific advice on cannabis in Canada. It is very difficult to find this extraordinary level of unique regulatory knowledge.’

‘Its comprehensive understanding of the ever-changing and complex cannabis regulations is truly unmatched. Whether it’s federal, provincial, or municipal regulations, Lewis Retik’s team has an in-depth grasp of the legal landscape, enabling it to navigate the intricacies of the cannabis industry with finesse.’

‘The team’s dedication to being at the forefront of regulatory changes empowers it to anticipate potential legal challenges and develop innovative strategies to address them effectively.’

‘Lewis Retik’s expertise and approach as a cannabis lawyer truly sets him apart from others in the field. Lewis is not just a lawyer; he is a thought leader in the realm of cannabis law.’

Key clients

Khiron Life Sciences Corp


IM Cannabis Corp


Lobe Sciences


Bluma Wellness


Innocan Pharma Corporation


Red White & Bloom Brands


Canopy Growth Corporation


Aleafia Health


Truss Beverage Company


SOL Global Investments Corp


MichiCann Medical


TREC Brands


BioHarvest


Lifted Innovations


Franchise Global Health


Sierra Well


Work highlights


  • Advised IM Cannabis Corp on three strategic acquisitions completed through IMC Holdings, a wholly owned subsidiary of IM Cannabis and IMC Pharma.
  • Advised Israel-based Innocan Pharma Corporation on the filing of a final short-form base shelf prospectus with the securities regulatory authorities in each of the provinces and territories of Canada.
  • Advised Khiron Life Sciences Corp on its $4.6m public offering of units of the company.

McCarthy Tétrault

McCarthy Tétrault’s cross-practice cannabis group plugs into various departments across the full-service firm to provide comprehensive coverage of the sector, with notable expertise in M&A, litigation, governance and regulatory law, among others. Transactional specialist Ranjeev Dhillon is considered by many as a leader in the field; he recently paired up with Rami Chalabi, also noted for his transactional focus, to advise SNDL on its C$138m acquisition of The Valens Company. Regulatory and litigation partner Awanish Sinha co-heads the department together with Dhillon. Litigator Shane D’Souza is also a key contact. Named lawyers are based in Toronto.

Practice head(s):

Ranjeev Dhillon; Awanish Sinha


Other key lawyers:

Rami Chalabi; Shane D’Souza


Key clients

Inner Spirit Holdings


Truss Beverage.


Independent Retail Cannabis Collective


Huge Shops


SNDL (formerly Sundial Growers)


Aurora Cannabis


Canopy Growth Corporation


Tilray


Auxly Cannabis Group


Canadian Imperial Bank of Commerce


TILT Holdings


TRYGG Collective Holdings


Greenhill & Co


420 Investments


Canaccord Genuity Corp


Bank of Montreal


Mintz

In a significant development, US firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. launched a Canadian platform in April 2023 and immediately established a formidable cannabis offering. Most notably, high-profile industry specialist Eric Foster joined from Dentons to lead the department. Additionally, life sciences expert Cheryl Reicin joined from Torys, where she formerly co-led the cannabis practice. At junior level, the group hired of counsel Matthew Imrie and associate Ellery O’Hara, who both also join from Dentons. The nascent group is well positioned to handle both transactional and regulatory matters, while its US network also marks it as a key contender for cross-border work going forward.

Practice head(s):

Eric Foster


Other key lawyers:

Cheryl Reicin; Matthew Imrie


Key clients

Entourage Health  Corp


SLANG Worldwide


Fire & Flower Holdings Corp


POSaBIT Systems Corporation


Work highlights


  • Advised Fire & Flower Holdings Corp on its C$11m loan agreement with a subsidiary of Alimentation Couche-Tard and proposed amendments to its Series C warrants and corresponding private placement of common shares.
  • Advised ATB Capital Markets, as agent, on Nova Cannabis’ C$20m at-the-market equity offering program.
  • Advised Entourage Health Corp on its long-term cannabis supply agreement with HEXO Corp.

Torys

Torys is distinguished by its focus on the medical cannabis sphere, where sources commend its ‘specialist knowledge of the area’. Combining strength in transactional matters with broad regulatory experience, the group is equipped to handle the full life cycle of industry issues for a mix of crown organizations, blue-chip companies and start-ups. Group head Eileen McMahon chairs both the intellectual property, and the food and drug regulatory practices and contributes deep regulatory expertise; she recently paired up with the real estate group to advise Hawthorne Canada on its acquisition of its Kelowna research facility. Teresa Reguly is also noted. Former department co-head Cheryl Reicin joined Mintz.

Practice head(s):

Eileen McMahon


Other key lawyers:

Teresa Reguly


Testimonials

‘Great strength in depth. Led by the highly knowledgeable Eileen McMahon, the team has specialist knowledge of the area and understands the issues likely to arise.’

‘A very personable team. Lawyers have great knowledge of the issues, are accessible and on-hand to discuss with you any concerns or problems. Very good at problem-solving. Eileen McMahon and Teresa Reguly are excellent.’

Key clients

Field Trip Ventures


Canaccord Genuity Corp


Hawthorne Canada


Trichome Financial Corp


Work highlights


  • Advised Field Trip Ventures on its intellectual property strategy and other corporate matters in Canada and the US, and also on its ongoing private placement worth approximately $15m, among other issues.
  • Acted for Canaccord Genuity, as the financial advisor to Acreage Holdings, on Acreage Holdings’ strategic arrangement with Canopy USA for the acquisition of all of Acreage’s Class D subordinate voting shares.
  • Advised Hawthorne Canada on the acquisition of its Kelowna research facility, including real estate, regulatory, tax and Cannabis Act issues.

Aird & Berlis LLP

Aird & Berlis LLP’s robust track record in the cannabis space has seen it represent over 200 clients operating within the industry to date. With strong skill sets in both the medicinal and recreational spheres, the group routinely advises all stakeholders on cannabis matters with experience in M&A, capital markets, finance and IP-related work. Corporate and M&A specialist Richard Kimel co-chairs the group together with Sherri Altshuler, who advises on a mix of corporate, commercial and regulatory law issues. Melanie Cole is also recommended.

Practice head(s):

Richard Kimel; Sherri Altshuler


Other key lawyers:

Melanie Cole; Jeffrey Merk


Key clients

StateHouse


Medisun


The Green Organic Dutchman Holdings


MediPharm Labs Corp


Aleafia Health


Trees Corporation


Greenway Greenhouse Cannabis Corporation


The Tinley Beverage Company


Work highlights


  • Acted as Canadian counsel to StateHouse (formerly Harborside) on its acquisition of LPF JV Corporation (‘Loudpack’), a manufacturer, cultivator and distributor of cannabis brands in California.
  • Advised Medisun, a licensed producer of cannabis located in Ontario, on its all-scrip merger with Australia-based Cannim Group.
  • Represented The Green Organic Dutchman Holdings in its acquisition of all of the issued and outstanding shares of BZAM Holdings.

DLA Piper (Canada) LLP

DLA Piper (Canada) LLP stands out for its international expertise, with the Canadian practice routinely teaming up with the wider firm’s US offices to handle cross-border transactions for major global cannabis players. In a recent example, Toronto-based Russel Drew acted alongside the New York group to advise Tilray Brands on its $230m acquisition of HEXO Corp. Robert Fonn spearheads a department that also counts Trulieve Cannabis Corp, Aurora Cannabis ‎Enterprises and Ascend Wellness Holdings among its representative clients.

Practice head(s):

Robert Fonn


Other key lawyers:

Derek Sigel; Russel Drew; Denis Silva


Key clients

Trulieve Cannabis Corp


Tilray (and, prior to its acquisition by Tilray, Aphria)


Alternative Medical Enterprises


Canaccord Genuity Corp


Charlotte’s Web Holdings


Ascend Wellness Holdings


HEXO Corp (Previously The Hydropothecary Corporation)


Althea Group Holdings


The Flowr Corporation


Acreage Holdings


Wikileaf Technologies


Lowell Farms


Eight Capital


Avicanna


Aurora Cannabis ‎Enterprises


Goodness Growth Holdings


Trulieve Cannabis Corp


Work highlights


  • Represented Tilray Brands in its acquisition of all of the issued and outstanding shares of HEXO Corp, pursuant to a plan of arrangement under the Business Corporations Act (Ontario).
  • Advised Ascend Wellness Holdings on the filing of base shelf prospectus with the US Securities and Exchange ‎Commission and securities regulators.
  • Acted as Canadian counsel to Acreage Holdings on its arrangement agreement with Canopy USA, Canopy Growth’s newly created US-domiciled holding company.

Stikeman Elliott LLP

With a marked focus on M&A and related regulatory matters, Stikeman Elliott LLP‘s multidisciplinary group additionally leans into the firm’s full-service offering to provide complementary expertise in capital markets, life sciences, licensing and marketing issues. Corporate head Jonah Mann and cannabis practice lead Donald Belovich are the key contacts on the transactional side. The team also benefits from the life sciences and healthcare expertise of Sara Zborovski, who specializes in providing regulatory and commercial advice to companies regulated by Health Canada, including cannabis clients.

Practice head(s):

Jonah Mann; Donald Belovich


Other key lawyers:

Sara Zborovski


Key clients

Ceres Acquisition Corp


Columbia Care


The Valens Company


Yooma Corp


Ayr Wellness


The Valens Company


ATB Capital Markets


Green Tank Technologies Corp


Curaleaf Holdings


Jushi Holdings


Goodmans LLP

Cannabis law practitioners at Goodmans LLPclearly understand the changing face of the industry in North America’, according to satisfied clients. The group acts for key industry participants, including licensed producers, retailers and investment banks, on a range of M&A, capital markets and regulatory issues. Corporate partner Neil Sheehy has a robust record in cannabis transactions and co-heads the department together with Victor Liu, who specialises in M&A, corporate finance and early-stage enterprises.

Practice head(s):

Victor Liu; Neil Sheehy


Testimonials

‘The team’s deal leads are of the highest quality and clearly understand the changing face of the industry in North America.’

‘The team helped close our acquisition of an international cannabis business with aplomb; helping us to win the bid in unusual and competitive circumstances.’

‘Neil Sheehy has the gravitas of a senior partner and the interest and energy of a more junior one — a great combination. Victor Liu is a rising star in this sector.’

Key clients

Cura Partners


Canopy Growth Corporation


Ontario Cannabis Retail Corporation


Fire & Flower


AltaCorp Capital


Canaccord Genuity


GMP Securities


Organigram Holdings


Perfect Plants


Subversive Capital


Mercer Park


Materia Ventures


Dalton Pharma Services


Sisu Extracts (SISU)


JMCC


Echelon Wealth Partners


Cannovate


Altria Group


Medicine Man Technologies


Nova Net Lease REIT


KSV Advisory


BGP Acquisition Corp


RELM Cannabis Co


Work highlights


  • Advised BGP Acquisition Corp on its business combination with Craft 1861 Global, which is intended to constitute BGP’s qualifying transaction.
  • Advised KSV Restructuring on MJardin Group’s ongoing restructuring proceedings.
  • Advised Organigram on its C$36m acquisition of Laurentian Organic.

Smart & Biggar

Intellectual property powerhouse Smart & Biggar leverages its firm-wide focus on life sciences, regulatory law, IP strategy, and marketing and advertising to excel in representing cannabis clients on compliance and IP-related issues. As a qualified pharmacist and patent agent, Toronto-based department head Alice Tseng is highly sought after for her life sciences expertise, including cannabis-related matters. Toronto-based Graham Hood is also noted for brand protection and trademark-related work.

Practice head(s):

Alice Tseng


Other key lawyers:

Graham Hood