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Acquisition of a Medical Cannabis Company

Case Title: Acquisition of a Medical Cannabis Company
Practice Area: Corporate, Capital Formation & Securities Law, Investment Management 
Case Desc:

Our client, a registered investment advisor and fund manager of several hedge and private equity style funds, desired to acquire a controlling interest in a publicly-traded Canadian medical cannabis company. Tannenbaum Helpern acted as U.S. counsel and general counsel overseeing a Canadian law firm with respect to the transaction, which involved complex M&A, securities, financial services and regulatory components. The transaction was structured as a club deal with two well-known Canadian entities taking smaller minority positions in the target alongside our client.

Critical deal issues involved:

  • walling the target off from the U.S. marijuana business due to ongoing Federal constraints; corporate governance and control rights;
  • obtaining consents and additional funding from fund investors; and, simultaneously negotiating with a significant investor in the target for a portion of its block of shares and with the target for a primary issuance of additional shares.
Attorney(s): Wayne H. Davis, James Rieger, Beth Smigel 
Industry: Hedge Funds, Private Equity, Cannabis 
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