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James Munro is a widely respected business lawyer who combines broad experience in capital markets and securities law with extensive expertise in corporate finance and mergers and acquisitions. He is recognized for his deep industry knowledge of the cannabis, mining, technology, novel industries and contested transactions.

A co-founder of McMillan’s highly regarded Cannabis Industry Group, James has a full understanding of legislation affecting the cannabis market. He provides licensed producers, technology providers and retailers a complete range of legal services relating to licensing, transactions and corporate compliance.

As a securities and corporate finance lawyer, James advises private and public clients on a range of transactions. His experience encompasses venture capital financings, initial public offerings, private placements, and public equity and debt financings, along with corporate governance and securities regulatory matters. His mining practice includes advising clients with respect to property options, joint ventures, earn-in and farm-out agreements, royalties, strategic alliances, asset purchase and sale transactions, surface right matters and technical disclosure.

Earlier in his career, James served as a foreign associate on secondment at Cravath, Swaine & Moore LLP in New York, gaining valuable insight into the US capital markets.



Representative Matters

  • Lead counsel for BGP Acquisition Corp. in connection with its US$115 million IPO on the NEO Exchange.
  • Lead counsel for iAnthus Capital Holdings, Inc. in connection with its recapitalization transaction, the leading case in British Columbia with respect to third-party release of claims in a plan of arrangement.
  • Acted for iAnthus Capital Holdings, Inc. in connection with $1.6 billion business combination with MPX Bioceutical Corporation.
  • Acted for Harvest One Cannabis Inc. in its acquisition of ACMPR Licensed Medical Cannabis Producer and Swiss Medical Cannabis-Based Health Products company. The transaction was valued at approximately $50 million (inclusive of acquisition cost and retirement of debt).
  • Acted for iAnthus Capital Holdings, Inc. as lead counsel in connection with a $20 million bought deal private placement of 8% unsecured convertible debentures.
  • Acted for Bit Stew Systems Inc. in connection with the acquisition of Bit Stew by GE Digital, via a plan of arrangement.  The transaction was valued at $153-million (U.S.).
  • Acted for iAnthus Capital Holdings, Inc. as lead counsel in connection with a $20 million bought deal and concurrent $1.5 million non-brokered private placement. The financing was the first bought deal offering to be completed on the Canadian Securities Exchange.
  • Acted for iAnthus Capital Management, LLC in the completion of its reverse merger with Genarca Holdings Ltd. Concurrent with the closing, the Company changed its name from Genarca Holdings Ltd. to iAnthus Capital Holdings, Inc. and had 16,900,000 total shares outstanding. In connection with the listing iAnthus raised $6,706,000.
  • Acted for Sanatana Resources Inc. in a decision that awarded significant costs to Sanatana by the Ontario Mining and Lands Commissioner.
  • Acted for a Toronto Stock Exchange listed issuer in connection with a US$170 million senior subordinated note offering.
  • Acted for a Toronto Stock Exchange listed issuer in connection with its merger, through a plan of arrangement, with another Toronto Stock Exchange issuer (transaction value $27 million).
  • Acted for a TSX Venture Exchange listed issuer in connection with the acquisition of gas lease blocks in the Gulf of New Mexico and associated development funding (transaction value $60 million).
  • Acted for a TSX Venture Exchange issuer in connection with a $30 million private placement financing.
  • Acted for a TSX Venture Exchange issuer in connection with the acquisition of a producing gold and silver mine located in Mexico (transaction value US$26 million).
  • Acted for a TSX Venture Exchange issuer in connection with a base metals streaming agreement (transaction value $8.5 million).
  • Acted for a TSX Venture Exchange Capital Pool Company in connection with its Qualifying Transaction and related private placement financing (transaction value $6.5 million).

Speaking Engagements

Cannabis Global Trends and Outlook 2020 TerraLex Global Meeting

November 11, 2020

Corporate Disclosure Update for Black Swan Events: Now is Not the Time for Boilerplate

June 23, 2020

Careers in Cannabis Law Forum - Peter A. Allard School of Law

March 3, 2020

Closing Panel And Final Remarks: What Cannabis Legalization 2.0 Means For The Liquor Industry

October 2019

Business in Vancouver, Business Excellence Series Panelist: Cannabis, One Year On, Vancouver

October 2019

2019 Pipestone Conference for Senior Securities Lawyers The Cannabis Panel, Lake Louise, Alberta

October 2019

Discover the Global Opportunities in the Hemp

May 2019

First Mover Advantage: The Legalization of Adult Use Cannabis in Canada

October 30, 2018

Cannabusiness, A Case Study on Starting Up in an Emerging Industry

September 2018

Cannabis in the Capital Markets Speaker, International Cannabis Business Conference, Vancouver, British Columbia

June 2018

Budding New Law: The Cannabis Potential

May 2018

Canadian Securities Exchange Stockpools - Cannabis Investment Challenge

May 2017

Securities Law: CLEBC Advanced Securities – 2017 Update Co-presenter, Acting for Companies in Unusual Industries: A Marijuana Sampler, Vancouver, British Columbia

April 2017

Cannabis Legalization in Canada: Social, Legal and Political Hurdles Canaccord Genuity's Cannabis Investor Day, Vancouver, British Columbia

January 2017

News


Media Mentions

Rankings & Recognition

  • Listed in the Legal500 Canada 2020 as a “Recommended Lawyer” – Cannabis

Directorships & Professional Associations

  • Vancouver Bar Association
  • Canadian Bar Association
  • Rocky Mountain Mineral Law Foundation

Education & Admissions

2005
Called to the British Columbia bar
2004
LLBQueen's University
2000
BA University of British Columbia

Publications

Insights by James Munro (14 Posts)

iAnthus Decision Changes the Landscape for Corporate Plans of Arrangement under the BCBCA by Permitting Third-Party Releases

Feb 23, 2021

The iAnthus decision affirmed by the Court of Appeal holds that a British Columbia company can use the BCBCA to restructure and obtain 3rd party releases.

The Next Phase of Canadian Cannabis: What to Expect in 2019 and Beyond

Jun 21, 2019

On June 14, 2019, Health Canada unveiled its Final Regulations for New Cannabis Products

B.C. behind the curve on retailing recreational cannabis on eve of legalization

Sep 18, 2018

A change in government helped put B.C. behind the curve on retailing legal cannabis, but merchants are more interested in getting the structure right than making it fast.

Cannabis in the Capital Markets

Jun 12, 2018

James Munro discusses the "once-to-twice-a-generation opportunity for lawyers" on the legalization and regulation of marijuana.

B.C. Government Unveils Trio of Cannabis Bills for Provincial Cannabis Regulation

May 23, 2018

British Columbia's provincial government unveiled its draft legislation on the regulation and implementation of non-medical (consumer) cannabis in the province.

B.C.’s Budding Industry: Provincial Government Announces New Key Policy Decisions on Cannabis

Feb 19, 2018

BC government announced policy decisions on the regulation of consumer cannabis. Each province to determine how cannabis will be distributed and sold in their jurisdictions

CETA is Provisionally Implemented — the C$1.5 Billion Threshold Arrives

Sep 1, 2017

CETA is Provisionally Implemented — the C$1.5 Billion Threshold Arrives

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

Aug 16, 2017

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

Compliant at this Time: Canada’s Options Regarding its Treaty Obligations and the Legalization and Regulation of Non-Medical Cannabis

Jul 6, 2017

Compliant at this Time: Canada's Options Regarding its Treaty Obligations and the Legalization and Regulation of Non-Medical Cannabis

Prohibition to Go Up in Smoke: Government of Canada Introduces Legislation to Legalize and Regulate Non-Medical Access to Cannabis

Apr 17, 2017

Prohibition to Go Up in Smoke: Government of Canada Introduces Legislation to Legalize and Regulate Non-Medical Access to Cannabis

Task Force Releases Report on Cannabis Legalization in Canada

Dec 19, 2016

Task Force Releases Report on Cannabis Legalization in Canada

CSA Conducts Review of Proxy Voting Infrastructure

Aug 27, 2013

CSA Conducts Review of Proxy Voting Infrastructure

Finders be Aware – BCSC Proposes to Revoke Trade-Based Exemption

Feb 15, 2013

Finders be aware - BCSC proposes to revoke trade-based exemption

Advance Notice By-Laws, Part II – the Mundoro Capital Decision

Jul 1, 2012

Advance Notice By-Laws, Part II – the Mundoro Capital Decision