Overview
Victor Liu is a partner in a business law group and leads the Cannabis Group at Goodmans.
Victor’s practice focuses on mergers and acquisitions as well as corporate finance. Victor also counsels early-stage enterprises in diverse industries on their growth financings, governance and strategic initiatives, ranging from fintech, crypto, mobile gaming and interactive media to pharmaceutical, renewable energy and healthcare.
As a part of the firm’s emerging business initiative, Victor volunteers as a “legal counsel in residence” at the DMZ at Toronto Metropolitan University (formerly Ryerson University), a world-leading incubator for tech startups, providing legal advice and mentorship to some of Canada’s most promising startups.
True to Goodmans entrepreneurial focus, Victor has been providing expert legal advice to pioneers in the cannabis industry since 2013, bringing clarity to the rapidly evolving legal and regulatory landscape and providing strategic guidance for their growth and success.
Victor is recognized by Chambers Canada and The Legal 500 Canada for cannabis law, by The Best Lawyers in Canada for cannabis law, corporate law, and securities law, and by The Canadian Legal Lexpert Directory for corporate finance and securities, and mergers and acquisitions. He is also featured in the Lexpert Special Edition: Technology and Health Sciences.
Featured Work
Victor's representative work includes acting for:
Tech
- Coinbase, a leading provider of end-to-end financial infrastructure and technology for the cryptoeconomy and the operator of the largest cryptocurrency exchange, with its Canadian regulatory and operational matters
- PopReach Corporation, a free-to-play game publisher of mobile games, from its early stage financings, through its 2020 RTO and public listing on the TSX Venture Exchange and subsequent equity financings, as well as its M&A activities
Cannabis
- Capital market transactions, including IPO, RTO, Qualifying transactions as well as equity, convertible debentures, subscription receipt and ATM financings for cannabis industry participants, including Fire & Flower, a leading purpose-built, independent adult-use cannabis retailer, as well as multiple Special Purpose Acquisition Corporations (SPAC)
- Delivra, a specialty biotechnology company with a proprietary transdermal delivery system platform and the manufacturer of the LivReliefTM line of products, in connection with its acquisition by Harvest One, a global cannabis company.
- Cura Partners, one of the world’s largest cannabis companies, in connection with its $75 million convertible debenture financing, the $1 billion sale to Curaleaf
- Mettrum Health, one of the earliest, largest and most successful licensed producers of medical cannabis in Canada, from its formation in 2013 and culminating in its sale in early 2017 for over $430 million to Canopy Growth
M&A
- Ad hoc committee of lenders in its successful $1.2 billion credit bid acquisition of Cirque du Soleil pursuant to a coordinated CCAA and U.S. Chapter proceedings
- CSL Capital Management, a private equity firm, in the establishment of a pure-play North American land pressure pumping joint venture with Baker Hughes and Goldman Sachs’ merchant banking division
- Birch Communications, a leading U.S. provider of communications, network and cloud services, in its first international expansion through the acquisition of select assets and customers of Primus Telecommunications
- Golf Town Canada in its sale to Fairfax Financial Holdings and funds managed by CI Investments
- Co-op Atlantic in the sale of its (a) corporate food and gas retail stores and wholesale assets to Sobeys, (b) bulk fuel and wholesale business to CST Canada and (c) agricultural business assets to La Coop Fédérée
- CML HealthCare in its $1.22 billion acquisition by LifeLabs and the concurrent multi-pronged divestiture of its diagnostic imaging business
- SkyPower in connection with its sale of 16 solar power projects to Canadian Solar and the ongoing development by SkyPower of international solar power projects
Awards & Recognition
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Chambers Canada Band 3, Cannabis Law 2025
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The Legal 500 Canada Leading Individual, Cannabis 2025
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Chambers Canada Recognized, Cannabis Law 2024
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The Legal 500 Canada Recommended, Cannabis 2024
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Lexpert Special Edition: Technology and Health Sciences Canada's Leading Technology and Health Sciences Lawyers 2024
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The Canadian Legal Lexpert Directory Recognized, Corporate Finance & Securities, Mergers & Acquisitions 2024
Credentials
Professional Involvement
In 1999, Victor worked for eight months in the firm’s Hong Kong office. Upon his return to Toronto, Victor has remained active in Toronto’s Canada-China business community.
Victor is a frequent participant at Federation of Asian Canadian Lawyers events, including as a mentor at its annual speed mentoring event.
Victor is also a volunteer with Goodmans LABB, providing free legal services to Black-owned businesses, and with Pro Bono Ontario through their Free Legal Advice Hotline.
Credentials
- University of Toronto, J.D., 1998
- Queen's University, B.A., 1995
Professional Affiliations
- Law Society of Ontario
- Canadian Bar Association
- Hong Kong Canada Business Association (Toronto)
- Chinese Canadian Association (Hong Kong)
- Federation of Asian Canadian Lawyers
Call to Bar
- 2001 Ontario
Insights
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Capital Markets
Quick Guide to the New Capital Pool Company Program: An Efficient Go-To-Market Strategy Complementing G-Corps and SPACs
The TSX Venture Exchange (TSXV) announced a major update to its Capital Pool Company (CPC) program that took effect on January 1, 2021 (the “New CPC Policy”). The New CPC Policy is aimed at making the… -
Cannabis
World Law Group 2020 Cannabis Guide
Victor Liu, Neil Sheehy and Danielle Levesque are contributors to the Canada section of the World Law Group 2020 Cannabis Guide. The Guide covers legislation, governing bodies, import and export… -
Cannabis
CSA Further Scrutinizes Disclosure by Cannabis Reporting Issuers
On November 12, 2019, the Canadian Securities Administrators (CSA) published Staff Notice 51-359 (the “Staff Notice”), highlighting inadequacies in disclosure of financial interests in M&A… -
Technology
Financial Support for Technology Companies in Canada: A Guide
In 2017, the Government of Canada launched a multi-year Innovation and Skills Plan aimed at substantially redesigning the innovation policy landscape in Canada. The Plan features an updated… -
Cannabis
Legal Landscape Applicable to the Regulation of Cannabis in Canada
On April 13, 2017, the Government of Canada introduced Bill C-45, the Cannabis Act, in the House of Commons. Based on the input of public health, law enforcement and justice experts, the Cannabis Act… -
Cannabis
Ontario Retail Cannabis Update… The Limited-Licence Lottery System
On December 13, the Ontario government announced significant changes to the province’s planned rollout of its retail cannabis regime. Ontario made regulation 497/18 (the “Amending Regulation”) under…
News & Events
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Banking and Financial Services
Goodmans Once Again Receives Top-Tier Recognition from The Legal 500 Canada
We are pleased to announce Goodmans LLP has once again received top-tier recognition from The Legal 500 Canada in their 2025 Guide released today.Recognition from The Legal 500 is based on independent… -
Mergers and Acquisitions
Chambers and Partners Once Again Honours Goodmans with Top-Tier Recognition
We are delighted to announce Goodmans LLP continues to receive top-tier recognition from Chambers and Partners in the Chambers Canada 2025 Guide.Recognition from Chambers and Partners is based on… -
100+ Goodmans lawyers recognized in The Best Lawyers in Canada: 2025 Edition
We are delighted to share Goodmans has once again been recognized in the 2025 edition of The Best Lawyers in Canada with 105 lawyers featured across 43 practice areas.Congratulations to Andrew Brodkin…