On November 1, 2016, Canopy Growth Corporation acquired Vert médical, a Quebec-based producer of medical marijuana. Lavery represented Vert médical in this file.
Vert médical is a company that’s currently awaiting an authorized producer permit from Health Canada that will allow it to legally grow medical marijuana in its ultramodern plant in Saint-Lucien. In return for Vert médical’s shares, Canopy Growth assumed a debt of approximately $500,000 and acquired the lease and the right of purchase on 90 acres of land and a 7,000-sq.-ft. administrative center and indoor growing plant. Moreover, it will issue Canopy shares – close to 300,000, to be issued progressively as a function of reaching certain milestones – to former shareholders. Canopy also simultaneously acquired 75 % of the issued and circulating shares of Groupe H.E.M.P.ca, in return for a payment $300,000, the issuance of close to 260,000 capital shares and the assumption of certain debt obligations.
Lavery’s team consisted of Marilyn Paré and Alicia De Praeter, lawyers in the Business law group. Over the course of the mandate, they were supported by Vincent Towner and Mylène Boisvert (Real estate), Dave Bouchard (Employment law) and Guillaume Synnott and Josianne Beaudry (Securities).