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Building a Solid Foundation – Knowing your options when it’s time to issue shares

Once your startup begins to see success, discussions often turn to shares – namely, the amount that should be issued and who should gain equity in your company. Zeifmans’ experts teamed up with Cassels Brock & Blackwell LLP, a full-service business law firm, to author this guide to help your startup with considerations around issuing shares and creating a solid share structure.   ...

Ontario tweaks Business Corporations Act, making it more business-friendly

This summer, two small but important amendments to the Business Corporations Act (Ontario) came into effect. These amendments eased restrictions on governance so that Ontario businesses can operate more efficiently, ensuring consistency with other Canadian jurisdictions.   Effective July 5, 2021, the new amendments also reduced approval thresholds for written shareholder resolutions and led to ...

BDC insights for tech companies looking for financing – and why your accountant should be your first stop

Securing financing from a top lender like BDC doesn’t depend on luck or a splashy pitch deck. There’s a surprising amount you and Zeifmans Technology and Startups team can do beforehand to speed up the application process and ensure your tech business gets the loan it needs.  We chatted with Marc-André, Regional Director of Technology Industry at BDC about ...

Psychedelics treatments are in the public eye  

Recently the use of psychedelics in health care experienced an interesting turning point – not through political gains, but through television.      Hulu’s latest hit, Nine Perfect Strangers, depicts the use of psychedelics as a tool in mental health therapy. Now, for anyone who’s seen the show – which follows a wellness retreat gone wrong – it’s ...

Proposed legislation introduced to reform cannabis taxation in the US

On July 14, 2021, Senate Majority Leader Chuck Schumer released a discussion draft of a detailed cannabis reform bill which, if enacted, would restore the deductibility of all expenses related to cannabis businesses and institute excise taxes on such businesses, resulting in big changes to cannabis taxation. Now backed by Democratic senators Cory Broker ...

Micro-dosing with Zeifmans: Season 2 podcast recap

Season 2 of our podcast “Micro-dosing with Zeifmans” was a real trip. Pulling knowledge from industry expert guests, we examined the industry as it currently is, and painted a vivid picture of the future as well. Some of the topics we covered include: – Current state of regulatory challenges – Driving force for future ...

Bid to repeal Section 280E up in smoke: How the recent ruling affects American cannabis

Regulatory support will always trail behind public acceptance and one prominent example of this is the US’s outdated Internal Revenue Code Section 280E as it relates to the cannabis industry.  In a long well-publicized battle, Oakland-based Harborside Inc. (listed on the Canadian Securities Exchange and operator of a number of cannabis dispensaries) had been arguing that Section 280E is unconstitutional. This section bars state-legal cannabis companies from making use of standard business deductions other ...

Will stock option taxation changes hurt hiring?

Employers in Canada’s emerging industries like cannabis, psychedelics, and agritech are concerned about how upcoming changes to the taxation of stock options will impact their ability to recruit top talent. Traditionally, stock options are among the most enticing incentives used to attract senior talent; particularly the type of executives who are equipped to drive ...

Thriving during economic recovery: A guide for businesses

Have you stopped to poke your head up yet? For many Canadian businesses, the last year has felt like competing in an Olympic-level hurdles race. We’ve weathered one challenge after the next, with a view of “normal life” still off in the distance. People have lost jobs, and businesses have fallen on hard times. ...