Advised the underwriters in PharmaCielo’s qualifying transaction and TSXV listing and concurrent financing

On January 15, 2019, AAJ Capital 1 Corp. (a capital pool company) and PharmaCielo Ltd. completed a qualifying transaction resulting in the listing of PharmaCielo’s business on the TSX Venture Exchange, under the name PharmaCielo Ltd. PharmaCielo’s principal operations are in Colombia, and the company is focused on the cultivation, processing and supply of all natural, medicinal-grade cannabis oil extracts and related products to large channel distributors, including pharmacies, medical clinics, and cosmetic companies. Fasken advised a syndicate of co-lead underwriters composed of Echelon Wealth Partners Inc., Cormark Securities Inc. and GMP Securities L.P. in the completion of the qualifying transaction and listing, including in an offering of subscription receipts of PharmaCielo for gross proceeds of approximately $39.5 million completed in two tranches on June 22, 2018 and June 26, 2018. The Fasken team was led by Paul Fornazzari and included Myroslav Chwaluk and Matthew Downer.