On February 8, 2018, the Canadian Securities Administrators (the “CSA”) published Staff Notice 51-352 (Revised) (the “Notice”) setting forth disclosure obligations applicable to issuers (“U.S. Cannabis Issuers”) engaged in the cultivation, possession or distribution of cannabis in the United States (“U.S. Cannabis Activities”) in light of the uncertainty resulting from cannabis being legalized in certain U.S. states while remaining a controlled substance under U.S. federal law. The Notice updates the CSA’s previously issued guidance by clarifying, expanding upon and detailing additional disclosure obligations for U.S. Cannabis Issuers, particularly with respect to describing … Continue Reading
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