Michael Waters

Michael T. Waters  

Partner

Executive Summary

Michael Waters is a partner in our Securities and Capital Markets Group in our Vancouver office.  Michael practices corporate and securities law with particular emphasis on corporate finance, mergers and acquisitions, investment fund management and corporate governance.

In his M&A practice, Michael advises acquirors and target companies in friendly and hostile takeover bids, plans of arrangements, reverse takeovers and other business combinations. 

In his corporate finance practice, Michael represents public and private issuers, underwriters and institutional investors in a wide range of financing transactions, including initial public offerings, secondary offerings, private placements and royalty and streaming transactions.   

In his investment fund practice, Michael advises Canadian and international investment funds, hedge funds and investment fund managers in connection with the formation, offering and management of retail and exempt investment funds, fund reorganizations and mergers, dealer and advisor registration matters, compliance and disclosure obligations, and fund governance. 

Michael is one of the founders of BLG's Startup & GrowTM Initiative, offering legal solutions tailored to entrepreneurs, startups and early-stage companies, primarily in the technology sector.  Michael also has considerable expertise the mining sector.  Michael is an Adjunct Professor at the Allard School of Law at the University of British Columbia, teaching Securities Regulation, and co-editor of the Thomson Reuters edition of the British Columbia Securities Act and Rules Annotated

Representative Work

Mergers and Acquisitions

  • Acted for Canna Farms Limited on its $133 million sale to Vivo (formerly ABcann Global Corporation)
  • 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 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

  • Acted for Teck Resources Limited in connection with a US$525 million gold offtake agreement with RGLD Gold AG, a wholly owned subsidiary of Royal Gold, Inc. on production from Teck's Andacollo mine.
  • Acted for Sandstorm Gold Ltd. in their US$152 million multi-asset stream transaction with Yamana Gold Inc.
  • Acted for Teck Resources Limited in connection with a US$610 million silver stream agreement with Franco Nevada Corporation on production from Teck's jointly owned Antamina mine. 
  • 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).

Investment Fund Management

  • Acted for a Canadian hedge fund 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 2018, 2017, 2016 and 2015 editions of The Canadian Legal Lexpert® Directory (Investment Funds & Asset Management)