TORONTO, Dec. 04, 2017 (GLOBE NEWSWIRE) -- Dream Unlimited Corp. (TSX:DRM) (TSX:DRM.PR.A) (“Dream”) has announced that Dream Asset Management Corporation (“DAM”) today acquired 17,700 units (“Units”) of Dream Hard Asset Alternatives Trust (TSX:DRA.UN) (“DAT”), representing approximately 0.02% of the issued and outstanding Units, on multiple Canadian markets for aggregate consideration of $111,312 or $6.29 per Unit. Prior to the acquisition, DAM and its joint actors owned 9,297,165 Units representing approximately 12.8% of the issued and outstanding Units and, following the acquisition, DAM and its joint actors own 9,314,865 Units representing approximately 12.8% of the issued and outstanding Units.
DAM acquired the Units in order to increase its equity interest in the business of Dream Alternatives Master Limited Partnership, of which DAT is the sole limited partner and which is managed by DAM. DAM intends to evaluate its investment in Units on a continuing basis and either may acquire Units or decrease its holdings of Units in the future. DAM is a wholly-owned subsidiary of Dream, which is controlled by Mr. Michael Cooper, President and Chief Responsible Officer. Michael Cooper holds an approximate 32% economic interest and an 82% voting interest in Dream. DAM acts as the asset manager for DAT and Dream Alternatives Master Limited Partnership.
This press release is being issued pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103”) of the Canadian Securities Administrators. A copy of the report to be filed by DAM in connection with the transactions described herein will be available on DAT’s SEDAR profile at www.sedar.com, and can also be obtained by contacting Mr. Robert Hughes, Vice-President, Legal Counsel, Dream Unlimited Corp. at 416-365-3535.
DAM’s head office and DAT’s head office are located at Suite 301, State Street Financial Centre, 30 Adelaide Street East, Toronto, Ontario M5C 3H1.
About Dream Unlimited Corp.
Dream is one of Canada’s leading real estate companies with approximately $14 billion of assets under management in North America and Europe. The scope of the business includes residential land development, housing and condominium development, asset management for four TSX-listed trusts, investments in and management of Canadian renewable energy infrastructure and commercial property ownership. Dream has an established track record for being innovative and for its ability to source, structure and execute on compelling investment opportunities.
For further information, please contact:
Dream Unlimited Corp.
|Michael J. Cooper||Pauline Alimchandani|
|President & Chief Responsible Officer||Chief Financial Officer|
|(416) 365-5145||(416) 365-5992|