Langlois represented a leading producer of premium certified organically grown cannabis in a sale of assets
Langlois Lawyers represented The Green Organic Dutchman Holdings Ltd. (TGOD), a leading producer of premium certified organically grown cannabis, in the sale of the majority of the assets of its Quebec subsidiary Medican Organic Inc. in Valleyfield (industrial and agricultural land, greenhouses, support buildings and related equipment) to Cannara Biotech Inc.
The sale closed on June 22, 2021, for a price of $27 million. Through a leaseback agreement, Medican will enter into a lease with Cannara for approximately 80,000 square feet of cultivation and processing space in the Valleyfield facility. This transaction represents a major transition point in TGOD’s business plan and will position the company to take advantage of other growth opportunities in Canada and the United States.
The Langlois business law team, led by lawyer and partner Mylany David, also included Langlois lawyers Adèle Poirier, Olivier Scheffer, Élise Théorêt, Vincent Tremblay, Bruno-Olivier Bureau, Yann Canneva, Simon Chénard, Roland Harfouche-Martel and Fanny van Bochove.