We are occasionally asked whether public companies can conduct at-the-market offerings (ATMs) in Canada.  The answer is yes.  While they are more common in the U.S., ATMs are also used by public companies to raise capital in Canada. In a Canadian ATM, an issuer’s equity securities are sold in a…

Previous articles in this series on the new USMCA have touched on some of the unexpected benefits for Canada stemming from the projected replacement of NAFTA by the new agreement. Among the benefits mentioned have been the revision of rules of origin on trade in automotive products to create more…

One of the most controversial aspects of the North American Free Trade Agreement (NAFTA) has been the provisions of Chapter 11, which provide a legal basis for private investors of one NAFTA country to sue the government of either of the other two NAFTA countries for breaches of a broad…

The “agreement in principle” on a new replacement agreement for NAFTA between Canada, the U.S. and Mexico (the “USMCA”), reached on September 30, 2018 after 13 months of negotiation, is not yet a formal agreement. It must first undergo a “legal scrub” by legal counsel from the three countries to…

The conclusion of an agreement in principle (and that is all it is at present) between the Trump Administration and Canada and Mexico on September 30, 2018 marked the culmination of a 13 month negotiating marathon between the three countries marked by an extraordinary level of interpersonal conflict and spite…