Michael T. Waters  

Partner

Executive Summary

Michael Waters is a partner in our Securities and Capital Markets Group in our Vancouver office. 

Michael acts for public and private companies, underwriters, boards of directors and special committees in the areas of mergers and acquisitions, corporate finance – including initial public offerings, secondary public offerings, private placement transactions and specialized royalty and streaming transactions – general corporate matters, reorganizations and corporate governance. 

Michael also acts for Canadian and international investment funds, hedge funds, private equity firms, venture capital firms and investment fund managers in connection with negotiating and structuring private investments, negotiated and hostile strategic acquisitions, the formation, management and operation of retail and exempt investment funds, public and private fund offerings, fund reorganizations and mergers, dealer and advisor registration matters, compliance and disclosure obligations, and fund governance. 

Representative Work

Mergers and Acquisitions

  • Acted for Holloway Lodging Corporation on its $157 million acquisition of Royal Host Inc.
  • Acted for Pan American Silver Corp. on its $1.5 billion acquisition of Minefinders Corporation Ltd.
  • Acted for Eldorado Gold Corp. on its $2.5 billion acquisition of European Goldfields Limited
  • Acted for K+S Aktiengesellschaft on its $434 million acquisition of Potash One Inc.
  • Acted for Eldorado Gold Corp. in connection with its $148 million unsolicited take-over bid of Frontier Pacific Mining Corp.

Corporate Finance, Streaming and Royalty

  • Acted for Teck Resources Limited in connection with a US$525 million long-term offtake agreement between Compañia Minera Teck Carmen de Andacollo and RGLD Gold AG, a wholly owned subsidiary of Royal Gold, Inc.
  • Acted for Magma Energy Corp. (now Alterra Power Corp.) in connection with its $110 million initial public offering.
  • Acted for Northern Property Real Estate Investment Trust and NorSerCo Inc. in connection with a $66 million bought-deal short-form prospectus offering of stapled units.
  • Acted as underwriters' counsel on a $24 million bought-deal short-form prospectus offering of a Great Panther Silver Limited.
  • Acted as underwriters' counsel on the $49 million initial public offering of Athabasca Potash Inc. (subsequently purchased by BHP Billiton Canada Inc. for $341 million). 

   Private Capital, Private Equity and Investment Fund Management

  • Acted for Qwave Capital LLC, a U.S. based private equity firm, in connection with its $17 million hostile take-over bid for the TSX Venture Exchange listed online lending company, IOU Financial Inc.
  • Acted for The Safariland Group, an affiliate of the U.S. based private equity firm Kanders & Company, Inc., in its acquisition of Mustang Survival Inc. 
  • Acted for Bonnett's Energy Corp. in its $117 million sale to a syndicate led the U.S. based private equity firm Mill City Capital, L.P.
  • Acted for one of the largest hedge funds in Canada in connection with its participation in a $7.1 million preferred equity financing round in Cooledge Lighting Inc. led by BDC Capital Inc.
  • Regularly acts for Canadian and U.S.-based investment fund managers in connection with the formation and offering of public and private investment funds in Canada.

Publications & Presentations

Rankings & Recognitions

  • ​Recognized in the 2015/16 edition of the Lexpert® Leading Canadian Lawyers in Global Mining
  • Recognized in the 2017, 2016 and 2015 editions of The Canadian Legal Lexpert® Directory (Investment Funds & Asset Management)