This article was last updated on
December 23,
2020.
In view of COVID-19, we have compiled a list of important
updates as it relates to the pandemic and its impact on Life
Sciences.
We will continue to update this page as new updates come in:
CIPO COVID-19 updates
Monday August
31, 2020 (see here, our article
here, and FAQs regarding the initial extension).
The
Patent Act was amended on March 25 to expand the
powers of the Commissioner of Patents to authorize use of patented
inventions in specified circumstances to respond to public health
emergencies (see our article
here).
Effective December 14, 2020, the Canadian Trademarks Office
Health Canada has again released a flurry of COVID-19 related
materials. Below are some highlights:
In response to a new U.S. rule
permitting import of certain drugs from Canada, on November 27,
2020, Health Canada issued the
) prohibiting bulk
exportation of drugs which may risk drug shortages. The Interim
Order includes, but is not limited to, drugs authorized pursuant to
the
Interim Order Respecting the Importation, Sale and
Advertising of Drugs for Use in Relation to
COVID-19 (signed September 16, 2020). See our article here.
Since the
Interim Order
Food
and Drug Regulations to minimize disruptions when this Interim
Order ends. On December 9, Health Canada granted an authorization under this Interim Order for the
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Cannabis Co. Ayr Enters Fla., NJ With Deals Totaling $391M
Law360 (December 22, 2020, 4:08 PM EST) Multistate cannabis operator Ayr Strategies Inc. said Tuesday it will buy one of the largest pot companies in Florida for $290 million in a deal steered by five firms, coinciding with a $101 million medical marijuana acquisition in New Jersey.
The all-stock acquisition of Florida s Liberty Health Sciences was steered by Dorsey & Whitney LLP and Stikeman Elliott LLP for Ayr and Miller Thomson LLP, Nauth LPC and Greenspoon Marder LLP on the sell side. Ayr will pick up a cultivation facility and 28 operational dispensaries with 14 more in the pipeline, according to a press release.
Liberty Health Sciences Announces Strategic Acquisition by Ayr Strategies, Unlocking Significant Value for Shareholders
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TORONTO, Dec. 22, 2020 /PRNewswire/ - Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) (
Liberty or the
Ayr ) are pleased to announce that they have entered into a definitive arrangement agreement (the
Agreement ) pursuant to which Ayr will acquire all of the issued and outstanding shares (the
Liberty Shares ) of Liberty in an all-share transaction for a total consideration of approximately $372 million (or US$290 million) on a fully-diluted basis
1 (the
Proposed Transaction
Under the terms of the Arrangement, shareholders of Liberty will receive 0.03683 of a subordinate voting share or restricted voting share for each Liberty Share held (the
On November 27, 2020, the Canada Revenue Agency
(
CRA ) released CG-029, a new Guidance on relief of poverty
and charitable registration. This Guidance, which replaces Summary
policy CSP-P03, Poverty, explains CRA s administrative policy
on charity law, including the criteria an organization with
purposes to relieve poverty must meet to be eligible for charitable
registration. The following summary answers the major questions
addressed in the Guidance.
How Can Charities Relieve Poverty?
CRA explains that in order for an organization to show that it
is relieving poverty, it must establish that:
its beneficiaries are experiencing poverty; and
its activities provide a charitable benefit that relieves the