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Wilson Elser Advises Lead-Underwriter Cormark Securities Inc. in MedMen’s Canadian Public Listing

June 5, 2018

On Tuesday, May 29, 2018, California-based MedMen Enterprises Inc. (CSE: MMEN), the largest U.S. cannabis company, began trading on the Canadian Securities Exchange following a successful reverse takeover of Ladera Ventures Corp. and private placement of US$110 million that valued the enterprise at a pre-money valuation of US$1.65 billion. According to BNN Bloomberg, MedMen is the largest company by market capitalization trading on the CSE. Investment banks Cormark Securities Inc. and Cannacord Genuity Group Inc. were lead underwriters in the deal.

Wilson Elser’s Cannabis Law practice led the U.S. due diligence effort on behalf of Cormark Securities Inc. Drawing attorneys from its M&A, Securities and Corporate Finance teams, Wilson Elser leveraged a deep bench of capital transactions experience within its rapidly growing cannabis industry group. The Wilson Elser deal team included:

Ian Stewart, co-chair of the firm’s Cannabis Law practice; M&A partner William Gay and M&A associate Matt Kiel of the firm’s Los Angeles office; in addition to Securities of counsel Robert Cornish Jr. of the firm’s Washington, D.C. office.

As cannabis companies continue to seek financing through private offerings and public capital markets transactions − whether in Canada or elsewhere − Wilson Elser’s Cannabis Law practice is fully equipped to advise enterprises, financial institutions, and directors and officers in all sectors of the industry.

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