DRM DREAM Unlimited Corp

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES.


DREAM Unlimited Corp. (TSX:DRM)(TSX:DRM.PR.A) ("DREAM") announced today that it
has entered into an agreement to sell 3,200,000 Class A subordinate voting
shares ("Shares") on a bought deal basis at a price of $15.70 per Share to a
syndicate of underwriters led by TD Securities Inc. for gross proceeds of
$50,240,000. In addition, DREAM has granted the underwriters an over-allotment
option, exercisable for a period of 30 days following closing, to purchase up to
an additional 480,000 Shares which, if exercised, would increase the gross
offering size to $57,776,000. The offering is scheduled to close on or about
April 29, 2014, and is subject to regulatory approval.


The net proceeds of the offering will be used by DREAM to invest, indirectly
through its 70% owned subsidiary, DREAM Asset Management Corporation ("DAM"), in
land development and housing and condominium development activities, to fund
renewable power projects under contract and for general corporate purposes. DAM
has a number of acquisitions under contract which it anticipates funding over
the next several months. In particular, a portion of the net proceeds of the
offering, together with cash on hand in DAM, may be used to make payments on
approximately 1,000 acres of land in Western Canada this year for approximately
$50 million (as previously disclosed) and payments on an additional 358 acres of
land currently under contract in Saskatoon for approximately $10 million; and to
fund approximately $19 million in renewable power projects currently under
contract.


DAM also entered into an agreement to acquire an interest in a new development
project in Ottawa's National Capital Region. Specifically, DAM has agreed to
acquire a 50% interest in the limited partner and a 35% interest in the general
partner of a partnership that has the right to acquire 37 acres of land in the
National Capital Region consisting of Albert Island and Chaudiere Island plus
lands along the Gatineau waterfront. This land area is larger than the
Distillery District and the Pan Am Athletes Village project combined. This
acquisition and, in turn, DAM's investment in the partnership, is subject to
customary conditions, including the obtaining of required zoning approvals.


DREAM will invest the net proceeds of the offering into preference shares and
common shares of DAM. The preference shares of DAM will have terms similar to
DREAM's outstanding first preference shares, Series 1 (TSX:DRM.PR.A), except for
the conversion feature, and will have a subscription price equal to the market
price of DREAM's first preference shares, Series 1 ($7.45 per preference share
for a total of approximately $44.7 million). The remaining net proceeds of the
offering will be used by DREAM to subscribe for additional common shares of DAM.
Amounts paid by DAM on these new preference shares to be owned by DREAM will
provide DREAM with an improved ability to fund dividend payments, any potential
redemption requests or amounts due at maturity of its first preference shares,
Series 1 by effectively mirroring the preference shares in the capital structure
of DAM with the one currently in DREAM. Proceeds of the offering are not
intended to be used to fund redemptions of any preference shares. Following the
completion of DREAM's equity offering and DREAM's additional investment in DAM,
a corporation controlled by Michael Cooper will continue to have the right to
exchange its DAM shares into approximately 34.2 million Class A subordinate
voting shares of DREAM, representing a decrease from a 31.3% to a 30.3% equity
interest in DREAM, on the basis that DREAM's first preference shares, Series 1
will be repaid in cash.


This press release is not an offer of securities for sale in the United States.
The Shares being offered have not been and will not be registered under the
United States Securities Act of 1933 and accordingly are not being offered for
sale and may not be offered, sold or delivered, directly or indirectly within
the United States, its possessions and other areas subject to its jurisdiction
or to, or for the account or for the benefit of a U.S. person, except pursuant
to an exemption from the registration requirements of that Act.


About DREAM:

DREAM is one of Canada's leading real estate companies with approximately $13
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 three TSX-listed real estate investment
trusts, investments in 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.


Forward Looking Information 

This press release may contain forward-looking information within the meaning of
applicable securities legislation. Forward-looking information is based on a
number of assumptions and is subject to a number of risks and uncertainties,
many of which are beyond DREAM's control, which could cause actual results to
differ materially from those that are disclosed in or implied by such
forward-looking information. These risks and uncertainties include, but are not
limited to general and local economic and business conditions, employment
levels, regulatory risks, mortgage rates and regulations, environmental risks,
consumer confidence, seasonality, adverse weather conditions, reliance on key
clients and personnel and competition. All forward looking information in this
press release speaks as of April 8, 2014. DREAM does not undertake to update any
such forward looking information whether as a result of new information, future
events or otherwise. Additional information about these assumptions and risks
and uncertainties is disclosed in filings with securities regulators filed on
SEDAR (www.sedar.com).


FOR FURTHER INFORMATION PLEASE CONTACT: 
DREAM Unlimited Corp.
Michael J. Cooper
Chief Executive Officer
(416) 365-5145
mcooper@dream.ca


DREAM Unlimited Corp.
Pauline Alimchandani
Chief Financial Officer
(416) 365-5992
palimchandani@dream.ca

DREAM Unlimited (TSX:DRM)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

DREAM Unlimited (TSX:DRM)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024