News & Knowledge

California Adopts Emergency Cannabis Regulations

On January 4, 2018, Attorney General Jeff Sessions issued a memorandum to all U.S. Attorneys rescinding previous enforcement priorities of the Department of Justice related to marijuana, including guidance provided under the Ogden and Cole Memorandums. In the memorandum Sessions states that since Congress has prohibited the cultivation, distribution and possession of marijuana under the Controlled Substances Act, Congress has determined that marijuana is a dangerous drug and marijuana activity is a serious crime.

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Financial Choice Act: The Potential Impact on Capital Market Participants and Securities Law Provisions

In June 2017, the Financial Choice Act of 2017 1 (the “Choice Act”) was passed by the U.S. House of Representatives with all but one Republican voting in support of the Choice Act, a bill designed to substantially restructure the post-crisis regulatory framework of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank).

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SEC Issues Guidance on Initial Coin Offerings

On July 25, 2017, the U.S. Securities and Exchange Commission (the “SEC”) issued a Section 21(a) Report of Investigation (the “Report”) on the initial coin offerings (“ICO”) in the decentralized autonomous organization (“DAO”) created by Slock.it UG, a German corporation, through the Ethereum blockchain (the “Slock.it DAO”).

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Recreational Cannabis: Oh Canada!

The Federal Government has set July 2018 as the target date for legalization of recreational cannabis in Canada. Until that time, recreational cannabis production, use and sale remains illegal.

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SEC Issues Investor Bulletin on Initial Coin Offerings

On July 25, 2017, the United States Securities and Exchange Commission (the “SEC”) issued an Investor Bulletin1 on Initial Coin Offerings (“ICO”). The SEC’s Office of Investor Education and Advocacy stated while and ICO “may provide fair and lawful investment opportunities

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Regulation A+ May Soon Be Extended To SEC Reporting Companies

On September 5, 2017 the U.S. House of Representatives passed the Improving Access to Capital Act 1 (the “Act”).  This Act directs the SEC to amend and expand the availability of Regulation A+ to SEC reporting companies.

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The CSA Issues Notice On Cryptocurrency Offerings

A cryptocurrency is a data-based currency that can be used in cryptography-secured transactions. Bitcoin is the first, and most famous decentralized cryptocurrency, meaning it is uncontrolled by a central bank.

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Foreign private issuer status: What is it and why is it important?

For Canadian public companies that access the U.S. capital markets or that have U.S. shareholders it is important that they understand what it means to have “foreign private issuer”(“FPI”) status under United States securities laws and the benefits of FPI status and the potential consequences of losing FPI status.

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TokenFunder: The First OSC Approved Initial Coin Offering

For Canadian public companies that access the U.S. capital markets or that have U.S. shareholders it is important that they understand what it means to have “foreign private issuer”(“FPI”) status under United States securities laws and the benefits of FPI status and the potential consequences of losing FPI status.

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Tintina and NXT File Form F-7

As an update to our previous release which discussed the Canadian Securities Administrators (the “CSA”) amendments to the Canadian rights offering process and the impact this had on the availability of Form F-7 in such offerings, each of Tintina Resources Inc. (“Tintina”) and NXT Energy Solutions Inc. (“NXT”) have filed a Form F-7 with the United States Securities and Exchange Commission (the “SEC”) in connection with each of their Canadian rights offerings.

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