Matthew Merkley

Representative transactions include advising:

Initial Public Offerings

• D2L Inc. on its C$150-million initial public offering of subordinate voting shares on the Toronto Stock Exchange

• Spin Master Corp. on its C$253-million initial public offering of subordinate voting shares on the Toronto Stock Exchange (and subsequent prospectus offerings)

• Underwriters on a US$151-million initial public offering of subordinate voting shares by Shopify Inc. on the Toronto Stock Exchange and New York Stock Exchange (and subsequent prospectus offerings)

• Starlight Investments on the initial public offering of C$430-million of trust units of Northview Canadian High Yield Residential Fund on the Toronto Stock Exchange

• Private equity owners on a C$230-million initial public offering of common shares by Stelco Holdings Inc. on the Toronto Stock Exchange (and subsequent prospectus offerings)

• Flagship Communities REIT on its US$94-million initial public offering of trust units on the Toronto Stock Exchange (and subsequent prospectus offerings)

• Underwriters on a C$230-million initial public offering of trust units by Minto Apartment REIT on the Toronto Stock Exchange (and subsequent prospectus offerings

• Starlight U.S. Multi-Family Core Fund family of funds on nine initial public offerings of an aggregate of US$789-million of limited partnership and trust units on the TSX Venture Exchange

Other REIT / REOC Public Offerings

• WPT Industrial REIT on offerings of US$614-million of trust units and subscription receipts

• H&R REIT and H&R Finance Trust in connection with many offerings of stapled units, convertible debentures and senior unsecured debentures

• Underwriters on offerings of C$738-million of subscription receipts, trust units and debentures of Sienna Senior Living Inc.

• Underwriters on a C$132-million offering of subscription receipts and convertible debentures by Slate Office REIT

Other Prospectus Offerings

• Celestica Inc. on secondary offerings of US$289-million of subordinate voting shares

• The Descartes Systems Group Inc. on offerings of US$392-million of common shares

Other Strategic Transactions

• Northview Fund on its recapitalization transaction and transformation into Northview Residential REIT

• Power Financial Corporation on its C$1.65-billion repurchase and cancellation of common shares pursuant to a substantial issuer bid and its tendering into Great-West Lifeco Inc.'s C$2-billion substantial issuer bid, and Power Corporation of Canada on its C$1.35-billion repurchase and cancellation of subordinate voting shares pursuant to a substantial issuer bid and its tendering of common shares into Power Financial Corporation’s substantial issuer bid

• Starlight U.S. Multi-Family Core Fund family of funds in connection with their securityholder and court-approved arrangement transaction to create the C$1.4-billion Starlight U.S. Multi-Family (No. 5) Core Fund

• Celestica Inc. on its US$350-million and US$175-million issuer bid repurchases and cancellation of subordinate voting shares

• WPT Industrial REIT on its internalization of management, acquisition of private capital business and U.S. industrial joint venture with two large Canadian pension plans

Matthew is ranked as a leading lawyer in the following publications:

• The Best Lawyers in Canada 2024 (Corporate Governance Practice)

• Chambers Canada: Canada's Leading Lawyers for Business – 2018–2024 (REITs)

• The Legal 500 Canada 2022 (Capital Markets)

• The Canadian Legal Lexpert Directory 2023 (Corporate Finance & Securities – Consistently Recommended)

• Thomson Reuters Stand-out Lawyer – Independently Rated Lawyers – 2016–2023 (As nominated by senior in-house counsel; formerly, Acritas Stars)

Matthew is a member of Ontario Securities Commission Continuous Disclosure Advisory Committee.

• Co-author: CSA Reports Mostly Positive Trends in Representation of Women on Boards
  Blakes Bulletin on Corporate Governance, October 17, 2023.
• Co-author: CSA Provides Update on Proposed Continuous Disclosure Reforms
  Blakes Bulletin on Capital Markets, October 6, 2023.
• Co-author: CSA Discloses Diversity of Potential Changes to Diversity Disclosures
  Blakes Bulletin on Capital Markets / Corporate Governance, April 18, 2023.
• Co-author: CSA Provides Guidance on Compliance with Non-GAAP Financial Measures Rule
  Blakes Bulletin on Capital Markets, November 10, 2022.
• Co-author: CSA Reports Further Progress on Advancement of Women on Boards
  Blakes Bulletin on Corporate Governance, November 8, 2022.
• Co-author: CSA Provides Update on Proposed Climate-Related Disclosure Rules
  Blakes Bulletin on Capital Markets / Environmental, October 24, 2022.
• Co-author: CSA Provides Update on Proposed Climate-Related Disclosure Rules
  Blakes Bulletin on Capital Markets / Environmental, October 24, 2022.
• Co-author: CSA Provides Update on Proposed Climate-Related Disclosure Rules
  Blakes Bulletin on Capital Markets / Environmental, October 24, 2022.
• Co-author: Coming Soon: Changes to CBCA Director Elections – The Sequel
  Corporate Governance Report, Vol. 17, No. 2, June 2022.
• Author: Did You Know? Ten Securities Law Fun Facts
  Blakes Bulletin on Capital Markets, May 25, 2022.
• Co-author: Business Is Business, But Some Acquired Businesses Are More Primary Than Others
  Blakes Bulletin on Capital Markets, April 21, 2022.
• Co-author: Coming Soon: Changes to CBCA Director Elections – The Sequel
  Blakes Bulletin on Capital Markets / Corporate Governance, March 28, 2022.
• Co-author: CSA Reports Slow but Continuing Progress on Gender Diversity in the Boardroom and Provides New Guidance on Gender Diversity Reporting
  Blakes Bulletin on Corporate Governance, November 17, 2021.
• Co-author: Pressure Building on Canadian Companies to Increase Female Representation on Boards
  Blakes Bulletin on Corporate Governance, November 10, 2021.
• Co-author: CSA Seeks Comments on Climate-Related Disclosure Rules
  Blakes Bulletin on Capital Markets / Environmental, October 28, 2021.
• Co-author: CSA Revisits Primary Business Financial Disclosure Expectations
  Blakes Bulletin on Capital Markets, August 19, 2021.
• Co-author: CSA Publishes Final Non-GAAP and Other Financial Measures Rule
  Blakes Bulletin on Capital Markets, June 9, 2021.
• Co-author: So Hard Done By? CSA Proposes to Reduce Burden with Continuous Disclosure Reforms
  Blakes Bulletin on Capital Markets, May 26, 2021.
• Co-author: Coming Soon to the CBCA: Majority Voting and Voting Against Directors
  Blakes Bulletin on Capital Markets / Corporate Governance, April 26, 2021.
• Co-author: Corporation Canada’s Findings from First Annual Diversity Disclosure Review Released
  Blakes Bulletin on Corporate Governance, April 19, 2021.
• Co-author: Dey-Kaplan Report Aims to Update Canadian Corporate Governance Standards
  Blakes Bulletin on Capital Markets / Corporate Governance, April 14, 2021.
• Co-author: Getting on Board with Women on Boards Continues to Be a Gradual Process, CSA Reports
  Blakes Bulletin on Corporate Governance, March 31, 2021.
• Co-author: CSA Provides Further Guidance on COVID-19 Disclosures by Issuers
  Blakes Bulletin on Capital Markets, March 4, 2021.
• Co-author: CSA Provides further Guidance on COVID-19 Disclosures by Issuers
  Blakes Bulletin on Capital Markets, March 4, 2021.
• Co-author: Corporations Canada Seeking Feedback on Proposed CBCA Regulations
  Blakes Bulletin on Capital Markets/Corporate Governance, March 3, 2021.
• Co-author: 2021 Proxy Advisory Firm Voting Guidelines: Canadian Highlights
  Blakes Bulletin on Capital Markets, January 15, 2021.

• Contributor: Board Oversight of Social Issues
  Institute of Corporate Directors, Toronto, Ontario, May 30, 2023.
• Contributor: Board Oversight of Social Issues
  Institute of Corporate Directors, Toronto, Ontario, March 30, 2023.
• Panellist: Managing Enterprise Risk: Spotlight on Directors’ and Officers’ Liability
  Business Class Seminar, December 2017.

• Quoted: New rule allows ‘true majority’ vote for boards of firm governed by Canada Business Corporations Act
  Article by Zena Olijnyk, Canadian Lawyer, April 13, 2021.
• Quoted: Will Shareholders Press for ESG Proposals and More as Pandemic Rages?
  Article in IR Leader, Canadian Investor Relations Institute, Vol. 31, No. 1, 2021.

Admitted to the Ontario Bar – 2005
JD, University of Toronto – 2004
MBA, University of Toronto – 2004
BComm (Hon.), Queen's University – 2000