Matthew Merkley Partner | Toronto

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

• Anthem Citizen Real Estate Development Trust on its C$82-million initial public offering of trust units

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

• Primaris Real Estate Investment Trust in connection with its C$500-million private placement of senior unsecured debentures

• Underwriters on an offering of C$251-million of trust units of Boardwalk REIT

• Underwriters on offerings of C$888-million of subscription receipts, trust units and debentures of Sienna Senior Living Inc.

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

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

• The Best Lawyers in Canada 2025 (Corporate Governance Practice)

• Chambers Canada: Canada's Leading Lawyers for Business – 2018–2025 (REITs)

• Thomson Reuters Stand-out Lawyers – Independently Rated Lawyers – 2016–2024 (As nominated by senior in-house counsel)

• The Canadian Legal Lexpert Directory 2024 (Repeatedly Recommended – Corporate Finance & Securities)

• The Legal 500 Canada 2022 (Capital Markets)

Matthew is a member of the Ontario Securities Commission Securities Advisory Committee and was previously a member of the Ontario Securities Commission Continuous Disclosure Advisory Committee (2016–2024).

• Co-author : Women on Boards: CSA Reports Marginal Progress and Some Setbacks
  Blakes Bulletin on Corporate Governance, November 1, 2024.
• Co-author : No Summer Break for the CSA – Selected Securities Law Developments
  Blakes Bulletin on Capital Markets, August 12, 2024.
• Co-author : Diversity Disclosure Requirements for CBCA Public Companies Potentially Changing
  Blakes Bulletin on Corporate Governance, January 10, 2024.
• 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 : 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.

• 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.

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