LEXPERT MAGAZINE
|
MARCH/APRIL 2018 21
|
CORPORATE TRANSACTIONS OF IMPORTANCE
|
ing of $500,000,000 principal amount of
3.315-per-cent Medium-Term Notes Due
October 4, 2027 (Series 1). is was OPG's
first offering under its medium-term note
program, established pursuant to its short
form base shelf prospectus dated September
12, 2017. Under the terms of the program,
OPG may issue up to $2 billion aggregate
principal amount of medium-term notes dur-
ing the 25 month period that commenced on
September 12, 2017.
e offering was made through a syndicate
of dealers led by BMO Capital Markets and
TD Securities and including Goldman Sachs
Canada Inc., CIBC World Markets Inc., Na-
tional Bank Financial Inc., RBC Dominion
Securities Inc., Scotia Capital Inc., HSBC
Securities (Canada) Inc., Desjardins Securi-
ties Inc. and Laurentian Bank Securities Inc.
e net proceeds of the offering will be
used for general corporate purposes and to
finance a portion of OPG's debt investment
in the Fair Hydro Financing Entity.
OPG was represented in-house by Leslie
Wong and Tyler McAuley, and by Torys
LLP, with a team that included Krista Hill,
Glen Johnson, David Forrester and Laura
Sigurdson (corporate/securities), Adam De-
lean (financial services) and Jerald Wortsman
and Richard Johnson (tax).
e dealers were represented by Blake,
Cassels & Graydon LLP, with a team that
included Ken Pearce, John Wilkin and Jer-
emy Ozier (corporate/securities), Ian Binnie
(financial services) and Edward Miller and
Josh Jones (tax).
MEDRELEAF CORP.
COMPLETES $100M INITIAL
PUBLIC OFFERING AND
SECONDARY OFFERING
CLOSING DATE: JUNE 7, 2017
On June 7, 2017, MedReleaf Corp. (MedRe-
leaf) completed its initial public offering
and secondary offering (collectively, the Of-
fering) of an aggregate of 10,600,000 com-
mon shares for aggregate gross proceeds of
$100,700,000, with MedReleaf and certain
shareholders (the Selling Shareholders) re-
ceiving gross proceeds of $80,700,049 and
$19,999,951, respectively. MedReleaf com-
menced listing on the TSX.
MedReleaf and the Selling Shareholders
have granted the Underwriters an over-allot-
ment option (the Over-Allotment Option),
exercisable in whole or in part for a period of
30 days following the closing of the Offering,
to purchase up to an additional 1,590,000
common shares for additional gross proceeds
of approximately $6,104,985 to MedReleaf
and an aggregate of $9,000,015 to the Selling
Shareholders respectively, if the Over-Allot-
ment Option is exercised in full.
MedReleaf is a licensed producer under
the Access to Cannabis for Medical Purposes
Regulations (the ACMPR), and is based in
Markham, Ont. From its Markham facility,
MedReleaf produces and sells its dried can-
nabis and cannabis oil products, including
cannabis oil capsules, to patients registered
under the ACMPR.
e Offering was managed by a syndicate
of underwriters including GMP Securities
Master the Law.
Visit gpllm.law.utoronto.ca
Questions? gpllm@utoronto.ca
Apply today.
ONE YEAR
|
PART-TIME
|
FOR LAWYERS AND BUSINESS LEADERS
Canada's leading law school offers a graduate degree in four unique streams:
Business Law
Canadian Law in a Global Context
Innovation, Law and Technology
Law of Leadership
