Bloomberg Profile Canadian Law Firms With Cannabis Practices In Article Entitled, ” Pot is becoming an earner for once reluctant Toronto law firms”

“I’ve never seen an industry start to dominate our practice in the way that this one has,” said Patricia Olasker, partner at Davies Ward Phillips & Vineberg LLP. “It’s unprecedented in the lifetime of most practicing lawyers.”

Source:  https://www.bnnbloomberg.ca/pot-is-becoming-an-earner-for-once-reluctant-toronto-law-firms-1.1171684

Davies ranks first among its peers for working on US$5.8 billion worth of cannabis M&A this year, including advising Canopy Growth Corp. on Constellation Brands Inc.’s C$5 billion investment in the Smiths Falls, Ontario-based pot producer.

Like many of Canada’s corporate law firms, Davies entered the sector because its traditional clients needed to understand the implications of recreational legalization on Oct. 17.

“It’s not so much that we sat down one day and thought, we need a cannabis strategy, but rather that our clients were getting into this space and so they dragged us there,” Olasker said in a phone interview. “They’re lenders, they’re investment banks, they’re retailers and shareholder activists, so our work is coming from conventional sources but addressing this new industry.”

Davies started off early in the pot space and is now advising “a few of the more senior cannabis players” on tax law, branding, marketing and compliance. It’s also educating the next generation about cannabis law through a new course at York University’s law school taught by Olasker and her colleague Mindy Gilbert.

It was a similar story at Osler, Hoskin & Harcourt LLP, which advised Constellation Brands on the Canopy deal and was the bankers’ counsel for Tilray Inc.’s initial public offering, the first and so far only marijuana IPO on a major U.S. stock exchange.

Read more at

https://www.bnnbloomberg.ca/pot-is-becoming-an-earner-for-once-reluctant-toronto-law-firms-1.1171684

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