Emblem Corp. Completes Qualifying Transaction

On December 12, 2016, Emblem Corp. completed its qualifying transaction by way of a three-cornered amalgamation to become a public medical marijuana producer.

The transaction involved, among other things, a brokered and non-brokered subscription receipts offering for gross proceeds of $21.6 million, a short form offering document financing for gross proceeds of $2 million, a share consolidation and a continuance out of the jurisdiction of the Business Corporation Act (British Columbia) and into the jurisdiction of the Canada Business Corporation Act.

Emblem Corp. was represented by a McMillan team led by Desmond Balakrishnan and included Barbara Collins, Arman Farahani, Mark Neighbor and Sasa Pudar (Capital Markets and M&A), Melanie Harmer (Litigation) assisting with court materials, and Michael Reid and Lindsay Dykstra (Business Law) assisting with due diligence. The team received additional support from Linda Rocca, Bill Olaguera, Sharon McNamara, Chirine Bahmanieh and Susan Dhillon.