Desmond Balakrishnan Photo
Desmond Balakrishnan Photo
Desmond Balakrishnan Photo

Desmond Balakrishnan is an experienced capital markets and securities lawyer with extensive experience advising clients in the cannabis, gaming, entertainment, hospitality, and food, beverage and agribusiness sectors. He is one of the leading lawyers in Canada in cannabis and gaming law and is recognized in numerous legal directories for his work in these industries.

With a broad scope of expertise, Desmond advises on private equity investments, public offerings, mergers and acquisitions, and listed company maintenance. He also acts as counsel on new issues and listings on all Canadian stock exchanges and interlistings with several international exchanges. He is the national leader of McMillan’s Cannabis and Gaming groups.



Representative Matters

  • Green Impact Partners Inc. (formerly Blackheath Resources Inc.) in connection with its acquisition of clean energy assets from Wolverine Energy and Infrastructure Inc., the completion of a $100 million brokered offering of subscription receipts and its listing on the TSX Venture Exchange through a reverse take-over (RTO) structure.
  • Acted as lead counsel for Contagious Gaming Inc. in its reverse takeover transaction of Contagious Sports Ltd. and Telos Entertainment Inc.
  • Represented Great Canadian Gaming Corp. to secure a C$200 million revolving credit facility and a US$170 million term loan and to issue US$170 million senior subordinated notes for gross proceeds of C$600 million, February 2007.
  • Represented Great Canadian Gaming Corp. to secure $450 million in financing and redeem Series A & Series B Secured Notes, September 2006.
  • Represented Avcorp Industries to complete a private placement of $12 million, July 2006.
  • Represented Great Canadian Gaming Corp. in acquisition of several casino and gaming facilities throughout British Columbia, Nova Scotia, Ontario and Washington State, 2005.
  • Acted as counsel to in joint venture with major resource company for development of Brazilian Assets valued at $100 million.
  • Acted as counsel to Great Canadian Gaming for $350 million offering and private placement arrangement of $75 million.
  • Acted as counsel to TSE listed issuer for $82 million equity offering.
  • Acted as counsel to lottery service provider for successive hospital and charitable foundation lottery.
  • Acted as counsel to concert promotion company with respect to national tour of multi-platinum recording artists.
  • Acted as counsel for acquiror of three standard bred racetracks and casinos in Ontario and British Columbia.
  • Acted as counsel for acquiror of British Columbia thoroughbred racetrack.
  • Acted as counsel in connection with casino development in Europe and public listing in Canada of management company.
  • Acted as counsel in connection with listing of several Australian resource exploration companies on Canadian Stock Exchange.
  • Acted as counsel for acquisition of gas lease blocks in Gulf of New Mexico and development funding ($60 million).


News


Media Mentions


Rankings & Recognition

  • Recognized in the 2024 Lexpert Special Edition on Finance and M&A as one of Canada’s Leading Finance and M&A Lawyers
  • Recognized in the 2024 Canadian Legal Lexpert Directory as a Consistently Recommended Lawyer in the area of Corporate Finance & Securities
  • Recognized by Chambers Canada (2024) as a leading lawyer in the area of Cannabis Law
  • Recognized in the 2023 Canadian Legal Lexpert Directory as a Repeatedly Recommended Lawyer in the area of Corporate Finance & Securities
  • Recognized by Chambers Canada (2023) as a leading lawyer in the area of Cannabis Law
  • Recognized in the 2022 Lexpert Special Edition on Finance and M&A as one of Canada’s Leading Finance and M&A Lawyers
  • Recognized in the 2022 Canadian Legal Lexpert Directory as a Repeatedly Recommended Lawyer in the area of Corporate Finance & Securities
  • Recognized by Chambers Canada (2022) as a leading lawyer in the area of Cannabis Law
  • Recognized by Best Lawyers in Canada (2022) as a leading lawyer in the area of Gaming Law
  • Recognized in the 2021 Lexpert Special Edition on Canada’s Leading Health Sciences Lawyers as a Leading Health Science Lawyer
  • Recognized in the 2021 Canadian Legal Lexpert Directory as a Repeatedly Recommended Lawyer in the area of Corporate Finance & Securities
  • Listed in the Legal500 Canada 2021 as a Recommended Lawyer – Cannabis
  • Recognized by Chambers Canada (2021) as a leading lawyer in the area of Cannabis Law
  • Recognized by the Best Lawyers in Canada (2021) as a leading lawyer in the area of Gaming Law
  • Listed in the Legal500 Canada 2020 as a “Recommended Lawyer” – Cannabis
  • Recognized by Best Lawyers in Canada (2020) as a leading lawyer in the area of Gaming Law
  • Recognized in Chambers Canada 2019 as a Practitioner of Gaming & Licensing
  • Recognized by Best Lawyers in Canada (2019) as a leading lawyer in the area of Gaming Law
  • Chambers Canada 2018  – Gaming & Licensing (Recognized Practitioner)
  • Named by Lexpert as a “Lawyer to Watch” 2009.
  • Recipient of the Lexpert Rising Star Award 2008 – “Top Canadian Lawyers Under Forty”.
  • Recipient of Business in Vancouver’s “Top 40 Under Forty” award 2006.

Community Involvement

  • Governance Officer Bumblebee Preschool Society, Vancouver BC
  • Volunteer, Brad Addison Memorial Hockey Tournament, Vancouver BC
  • Panel Member, Vancouver Property Assessment Review Panel (2005-2007)

Directorships & Affiliations

  • Vancouver Bar Association
  • International Masters of Gaming Law

Education & Admissions

1998
Called to the British Columbia bar
1997
LLB (with Distinction) University of Alberta
1994
BA Simon Fraser University
1994
CLA Simon Fraser University

Insights (1 Posts)View More

Featured Insight

Strong Roots in Stormy Weather: Federal Government Affirms Commitment to Legalize Cannabis by July 2018 in Light of Premier Uncertainty

Strong Roots in Stormy Weather: Federal Government Affirms Commitment to Legalize Cannabis by July 2018 in Light of Premier Uncertainty

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Aug 16, 2017

Deals & Cases (7 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

Sun Valley Successfully elects dissident slate of Directors to Canagold Resources Board of Directors

McMillan acted for Sun Valley Investments LLC (“Sun Valley”) in connection with its opposition to the management and business direction of Canagold Resources Ltd. (TSX: CCM) (“Canagold”) and its proxy fight to change the board of directors by nominating a slate of three independent directors for election at Canagold’s Annual and Special General Meeting.

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Jul 20, 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

Aurora Cannabis Inc. Completes US$137.9 Million Cross-Border Bought Deal Offering

On January 26, 2021, Aurora Cannabis Inc. completed a bought deal public offering of units for total gross proceeds of US$137,940,000 pursuant to a prospectus supplement to the company’s short form base shelf prospectus dated October 28, 2020.

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Feb 23, 2021
Featured Insight

iAnthus closes $20 Million bought deal offering and concurrent $1.5 Million non-brokered private placement

iAnthus was represented by a team from McMillan that included James Munro, Desmond Balakrishnan, Marina Tran, Herbert Ono and Joni Liew.

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Dec 21, 2016
Featured Insight

Emblem Corp. Completes Qualifying Transaction

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.

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Dec 21, 2016