representative work

Canopy Rivers Raises $104 Million and Enters Definitive Agreement to Complete Reverse Take-Over


On July 9, 2018, Canopy Rivers Corporation announced that it completed its previously announced private placement of subscription receipts at a price of $3.50 per subscription receipt for gross proceeds of over $104 million. The brokered portion of the offering co-led by CIBC Capital Markets, GMP Securities L.P. and Eight Capital.

Canopy Rivers also announced that it entered into a definitive amalgamation agreement with AIM2 Ventures Inc. pursuant to which the parties will complete a reverse take-over of AIM2 by Canopy Rivers, which will constitute AIM2’s “Qualifying Transaction” (as such term is defined in Policy 2.4 of the TSX Venture Exchange).

Cassels acted for Canopy Rivers with a team that included John Vettese, Jamie Litchen, Jonathan Sherman and Miriam El-Ofir (Securities and Cannabis) and Chris Norton and Tera Li (Tax).

RELATED EXPERTISE: Cannabis | Securities | Taxation