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ARTICLE · 23 FEBRUARY 2018

CSA Provides Clarification To Issuers With U.S. Marijuana-Related Activities

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On February 8, 2018, the Canadian Securities Administrators (the "CSA"), the umbrella organization of Canada's provincial and territorial securities regulators, published CSA Staff Notice 51-352 ...

CanadaCorporate/Commercial Law

On February 8, 2018, the Canadian Securities Administrators (the "CSA"), the umbrella organization of Canada's provincial and territorial securities regulators, published CSA Staff Notice 51-352 (Revised) Issuers with U.S. Marijuana-Related Activities (the "Revised Notice"), which sets out the CSA's latest disclosure requirements for issuers with U.S. marijuana-related activities.

Louis Morisset, CSA Chair, stated:

"In light of political and regulatory uncertainty surrounding the treatment of U.S. marijuana-related activities, CSA staff have updated our disclosure expectations for issuers in this space... Today's notice also follows CSA staff's consideration of the rescission of the Cole Memorandum and our conclusion that a disclosure-based approach remains appropriate in the current circumstances."

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