Alex Bruvels Photo
Alex Bruvels Photo
Alex Bruvels Photo

Alex Bruvels is an experienced capital markets lawyer with a practice focused on corporate finance and mergers and acquisitions. He provides advice in a range of industries including real estate investment trusts (REITS), private equity with a focus on real estate funds, technology, resources and energy, cannabis, and health care. Alex also acts for investment funds.

As part of his securities and corporate finance practice, Alex advises private and public clients in connection with venture capital financings, initial public offerings, private placements, public equity and debt financings, mergers and acquisitions, stock exchange listings, corporate governance, securities regulatory matters, contested shareholder meetings and general corporate and securities law matters.

Alex also has extensive experience in the structuring, offering and sale of domestic and foreign domiciled investment funds. He offers additional expertise in dealer and adviser registration and compliance matters.

An author of numerous publications on business law and the capital markets, Alex has also been a guest lecturer on mergers and acquisitions at the Dalhousie Schulich School of Law and on corporate finance and corporate governance at Queen’s University law school. He has also acted as a public company corporate secretary.



Representative Matters

Real Estate

  • Structuring of and capital raising for numerous private REITs and private equity real estate funds with domestic and foreign assets in a variety of asset classes including office buildings, multi-family residential apartment complexes, hotels, senior housing and student housing.
  • Acted for vendor of real estate assets to Northview Fund, now Northview Resident REIT (TSX) in connection with Northview’s recapitalization transaction and transformation into a $2.7B traditional open-ended real estate investment trust focused on multi-family properties.
  • Acts for Montcrest Asset Management (formerly NYX Capital Corp), a private equity real estate investment firm focused in residential, industrial, self-storage and commercial assets respecting structuring and capital raising.
  • Acted for PROPetual (Venture 2021) Real Estate Investment Trust with respect to structuring, REIT launch and capital raising.
  • Acted for ForeGrowth U.S. Apartment REIT with respect to structuring, REIT launch and capital raising.
  • Acted for Alignvest Capital Management with respect to structuring and capital raising.
  • Acted for the selling shareholders in respect of a secondary prospectus offering of common shares of First National Financial Corporation (TSX) on a bought deal basis for gross proceeds of $53.4M.
  • Acted for Morguard Investments Limited with respect to corporate reorganizations.

 

Technology

  • Acted for angel investor in respect of investment in the True North Fund, a Canadian venture capital fund investing in Canadian growth-stage technology companies with the goal of keeping them Canadian.
  • Acted for Avcorp Industries Inc. (TSX), a designer and builder of major airframe structures in its acquisition by Latécoère S.A by way of statutory plan of arrangement with a total transaction value of approximately $139M.
  • Acted for VIQ Solutions Inc. (TSX), a provider of AI digital voice and video capture technology and transcription services in establishing a base shelf prospectus for up to US$225M.
  • Acted for VIQ Solutions Inc. (TSX) in its bought deal offering of common shares qualified under a short form prospectus for gross proceeds of $20M and up-listing from the TSXV to the TSX.
  • Acted for a syndicate of dealers in connection with the $8.3M bought deal offering of units of Hut 8 Mining Corp. (TSX), a cryptocurrency mining and blockchain infrastructure company.
  • Acted for a syndicate of dealers with respect to the reverse take-over by Hut 8 Mining Corp. of Oriana Resources Corporation, public listing on the TSXV, and completion of private placements of approximately $70M.
  • Acted for a Canadian software company in its acquisition by a United States private equity firm with a transaction value of $85M.

Cannabis

  • Acted for iAnthus Capital Holdings, Inc. (CSE) in its recapitalization transaction by way of plan of arrangement including restructuring of $159M of secured as well as unsecured debt and $25M additional debt financing. https://mcmillan.ca/deals-cases/restructuring-of-ianthus-capital-holdings-inc/
  • Acted for Aurora Cannabis Inc. (TSX) in its acquisition of TerraFarma Inc., the parent company to Thrive Cannabis, a vertically integrated cannabis company by way of a three cornered amalgamation with a transaction value of up to $68M.
  • Acted for a committee of independent directors of a TSX listed cannabis company in connection of its investigation of certain transactions.
  • Acted for PharmaCielo Ltd., a Colombian based cannabis producer in its best efforts offering of common shares qualified under a short form prospectus for gross proceeds of $12M.
  • Acted for investor in its purchase of US$100M of unsecured convertible debentures of Harvest Health & Recreation, Inc. (CSE).
  • Acted for Natura Naturals Holdings Inc., the parent company of a licensed cannabis cultivator in its acquisition by Tilray, Inc. (NASDAQ) with a transaction value of $70M.
  • Acted for iAnthus Capital Holdings, Inc. (CSE), in its acquisition of MPX Bioceutical Corporation (CSE) with a transaction value of $1.6B.
  • Acted for PharmaCielo Ltd., in its reserve take-over of AAJ Capital 1 Corp., public listing on the TSXV and completion of private placements of approximately $40M.

Resources and Energy

  • Acted for Treasury Metals Inc. (TSX) in its private placement of special warrants on a bought deal basis and flow-through special warrants on a best efforts basis with underlying shares qualified under a short form prospectus for gross proceeds of $17.6M.
  • Acted for Treasury Metals Inc. (TSX) is its acquisition of all of the shares of Tamaka Gold Corporation, the owner of the Goldlund Gold Project from First Mining Gold Corp. (TSX) and concurrent bought deal private placement of subscription receipts for gross proceeds of $11.52M with the underlying securities qualified under a short form prospectus.
  • Acted for AltaLink, L.P. with respect to its offering of $450M of medium term secured notes under a pricing supplement to a short form base shelf prospectus.
  • Acted for PetroNova Inc. (TSXV) in connection with Petroamerica Oil Corp.’s (TSXV) acquisition of all of PetroNova’s common shares by way of a statutory plan of arrangement, with a transaction value of $29M.

Healthcare

  • Acted for Promis Neurosciences Inc. (TSX), a biotechnology company with respect to its private placement of units for gross proceeds of US7.4M.
  • Acted for Promis Neurosciences Inc. (TSX), with respect to its best efforts offering of US$20.1M of units under a pricing supplement to a short form base shelf prospectus.
  • Acted for Sernova Corp. (TSXV), a regenerative medicine therapeutics company in its bought deal offering of common shares qualified under a short form prospectus for gross proceeds of $20M.
  • Acted for Yorkville Asset Management Inc. as the lead investor in a private placement of common shares and convertible debentures of CareRx Corporation (formerly Centric Health Corporation) (TSX), a provider of specialty pharmacy services to seniors for proceeds of $35.2M.
  • Acted for 1315 Capital in its investment on a bought deal private placement concurrent with a bought deal public offering of common shares of Greenbrook TMS Inc. (TSX), a transcranial magnetic stimulation therapy provider for gross proceeds of $30.5M.
  • Acted for Resverlogix Corp. (TSX), a late-stage clinical biotechnology company in its offering of units for gross proceeds of $10M by way of overnight marketed prospectus and concurrent private placement.

Investment Funds and Registrants

  • Acts for registrants in respect of securities commission regulatory audits.
  • Acted for Picton Mahoney Asset Management with respect to structuring matters for hedge funds.
  • Acted for domestic and offshore investment funds and dealers with respect to structuring and offering of hedge fund as well as Canadian registration matters and securities commission regulatory audits.

Teaching Engagements

  • Guest lecturer on mergers and acquisitions at Dalhousie Schulich School of Law
  • Guest lecturer on corporate finance and corporate governance at Queen’s University law school.

News


Media Mention


Community Involvement

  • Past Team Captain of Team McMillan for the Princess Margaret Walk to Conquer Cancer
  • Corporate secretary of a public company

Education & Admissions

2017
Called to the Ontario bar
2015
Called to the Alberta bar
2014
JD with Business Specialization CertificateDalhousie University
2013
ExchangeChina University of Political Science and Law
2010
BA, Double Major, Political Science/International Development StudiesDalhousie University

Insights (30 Posts)View More

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Structuring Mortgage Investment Corporations in Canada

An overview of structuring Mortgage Investment Corporations or "MICs" in Canada

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Nov 23, 2023
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Capitalizing on the Underserved Student Housing Market in Canada: Industry Overview and Capital Raising Structures

Private sector participants seeking to participate in the underserved student accommodation market in Canada can raise capital through different structures.

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Apr 5, 2023
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April 2023 Update: Amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Regulations Provide Increased Deal Certainty for Commercial Real Estate Industry

The Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act”) and regulations (the “Regulations”) came into force on January 1, 2023.

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Apr 4, 2023
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Real Estate Fund Capital Raising, Structuring a Real Estate Development Deal, Registration Requirements and Tax Considerations

Join us for a breakfast session discussing key issues for funds, asset managers, developers and exempt market dealers in the real estate industry.

Details
Wednesday, March 8, 2023
Featured Insight

Raising Money with the Offering Memorandum Prospectus Exemption: CSA Adopts Additional Requirements with a Focus on Real Estate Issuers and Collective Investment Vehicles

The CSA recently announced the adoption of amendments to the offering memorandum exemption in National Instrument 45-106 and the Companion Policy to NI 45-106.

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Jan 9, 2023
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CRA Issues Guidance on Critical Mineral Exploration Tax Credit and Certification Requirements

Canada Revenue Agency Issues Guidance on 30% Critical Mineral Exploration Tax Credit and Certification Requirements

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Oct 19, 2022
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Structuring Private Equity Real Estate Funds in Canada

This bulletin provides an overview of structuring private equity real estate funds in Canada.

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Sep 6, 2022
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Going Private Transactions in Canada: Key Considerations

An overview of how Canadian public companies may effect a going private transaction and summarizes several key benefits of going private

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Aug 10, 2022
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Propsharing and Fractional Real Estate Investing

Propsharing and Fractional Real Estate Investing in Canada

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Apr 19, 2022
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Practical Considerations of Simple Agreements for Future Equity or “SAFEs” in Canada

An overview of how Simple Agreements for Future Equity or “SAFEs” work including pros & cons for Canadian companies considering SAFEs for early stage financing.

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Feb 1, 2022
Featured Insight

PropTech: Property Technology, the New Frontier in Real Property, Part 3: Challenges

In this bulletin, we discuss the risks and challenges of using PropTech by businesses in the real estate space and for consumers of such products.

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Jan 18, 2022
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PropTech: Property Technology, the New Frontier in Real Property, Part 2: Benefits

In this bulletin, we discuss the benefits of using PropTech for businesses in the real estate space and for consumers of such products.

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Jan 11, 2022
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PropTech: Property Technology, the New Frontier in Real Property, Part 1: Introduction

In this 3-part series, we explain the concept of PropTech, highlight its benefits and outline associated risks.

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Jan 11, 2022
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City of Toronto Introduces Garden Suites

In this bulletin, we discuss the potential development of garden suites in the City of Toronto.

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Jan 10, 2022
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TSX Venture Exchange Amends Equity Compensation Policies

On November 24, 2021, the TSX Venture Exchange published a bulletin announcing amendments to its policies regarding security based compensation.

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Dec 6, 2021
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Making a Lot out of a Little – Laneway Housing a Niche Market Opportunity for Municipalities, Property Owners, Real Estate Developers and Investors

An overview of laneway suites / housing as means of adding to housing stock in Toronto and beyond.

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Oct 25, 2021
Featured Insight

Practical Considerations for Structuring Private REITs

Despite volatility, the market for Canadian REITs continues to rally creating opportunity for new players in a number of asset classes. This webinar focuses on the practical considerations for structuring private REITs.

Details
Tuesday, November 9, 2021
Featured Insight

Canadian Securities Administrators Seek Input on Activist Short Selling Activities

Canadian Securities Administrators Seek Input on Activist Short Selling Activities

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Dec 16, 2020
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Raising Capital in Mining? Practical Considerations for Private Placements

Practical considerations for private placements when raising capital in mining

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Nov 2, 2020
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Disclose This – The Offering Memorandum Exemption Gets a Revamp – CSA Propose Additional Requirements with a focus on Real Estate Issuers and Collective Investment Vehicles

Proposed amendments to the OM Exemption may have major impacts on issuers engaged in real estate activities or considered collective investment vehicles

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Oct 14, 2020
Featured Insight

Thinking About Real Estate in Canada? Practical Considerations for Structuring a Private REIT

Thinking About Real Estate in Canada? Practical Considerations for Structuring a Private REIT

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Jul 30, 2020
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Liquid Alternatives Now a Reality Alternative Mutual Funds Regime Scheduled to Come Into Force January 3, 2019

The Canadian Securities Administrators have published the much anticipated final version of amendments introducing a "liquid alternatives" regulatory regime

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Oct 5, 2018
Featured Insight

CSA Reinforces Position that Securities Laws Apply to Cryptocurrency Offerings, Confirms Regulatory Scrutiny for Industry Participants

Jun 11, 2018, CSA published Staff Notice 46-308 – Securities Law Implications for Offerings of Tokens providing regulatory guidance on token and coin offerings.

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Jul 19, 2018
Featured Insight

CSA Releases Client-Focused Reforms to NI 31-103 in Response to Client-Registrant Relationship Concerns

June 21, 2018, the CSA released reforms to better align the interests of securities advisors, dealers, and representatives with the interests of their clients.

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Jul 18, 2018
Featured Insight

CSA Considers Reforms to the Syndicated Mortgage Regime and Seeks Input from Industry Participants

CSA Considers Reforms to the Syndicated Mortgage Regime and Seeks Input from Industry Participants

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May 10, 2018
Featured Insight

Amending the Canada Business Corporations Act– Bill C-25 Receives Royal Assent

Amendments will amend requirements regarding the election of directors, make mandatory certain diversity disclosure and impact shareholder communications for federally-regulated public companies

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May 9, 2018
Featured Insight

McMillan Client Alert – The CSA Release A New and Improved Suppression of Terrorism Report

The Canadian Securities Administrators have published CSA Staff Notice 31-352 Monthly Suppression of Terrorism and Canadian Sanctions Reporting Obligations.

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Mar 16, 2018
Featured Insight

McMillan Client Alert – For Registered Dealers, Advisors and Firms Relying on International Dealer or International Advisor Exemption

McMillan Client Alert - For Registered Dealers, Advisors and Firms Relying on International Dealer or International Advisor Exemption

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Dec 14, 2017
Featured Insight

Key Corporate Governance and Disclosure Developments in 2017

Key Corporate Governance and Disclosure Developments in 2017

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Dec 4, 2017
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CSA Consider Reforms to Determining Director and Audit Committee Member Independence

CSA Consider Reforms to Determining Director and Audit Committee Member Independence

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Nov 22, 2017

Deals & Cases (4 Posts)

Featured Insight

Avcorp Industries Completes Plan of Arrangement with Latécoère S.A.

On November 7, 2022, Avcorp Industries Inc. (TSX:AVP) (“Avcorp”) closed its CAD$139 million acquisition by Latécoère S.A. (“Latécoère”). The acquisition was affected by way of a court-approved plan of arrangement under the Canada Business Corporations Act, pursuant to which Latécoère acquired all the issued and outstanding common shares of Avcorp for considerations of $0.11 in cash per share.

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Nov 7, 2022
Featured Insight

Restructuring of LEEF Brands Inc.

In August 2022, McMillan’s Insolvency Litigation group obtained court approval of the plan of arrangement, which was necessary to address a payment default under a debenture.

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Sep 12, 2022
Featured Insight

Aurora Cannabis Inc. acquires TerraFarma Inc.

On May 5, 2022, Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) (“Aurora”) acquired TerraFarma Inc., the parent company of Thrive Cannabis (“Thrive”), an Ontario-based vertically integrated cannabis company, by way of a three-cornered amalgamation for $38 million in cash and Aurora shares, plus additional earnouts of up to $10 million for satisfying certain near-term revenue targets and up to $20 million for satisfying certain long-term revenue targets.

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May 5, 2022
Featured Insight

PharmaCielo Completes Overnight Market Offering

On April 7, 2021, PharmaCielo Ltd. (“PharmaCielo”) (TSVX:PCLO) completed its previously announced overnight marketed offering of common shares from the treasury of the company, for gross proceeds of $13.5 million conducted through a syndicate of agents led by Cormark Securities Inc. and including Stifel GMP.

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Apr 7, 2021