Dream Asset Management Corporation Increases Interest In Dream Hard Asset Alternatives Trust
16 Outubro 2019 - 9:56PM
Dream Unlimited Corp. (TSX:DRM) (TSX:DRM.PR.A)
(“
Dream”) has announced that Dream Asset
Management Corporation (“
DAM”) acquired 317,245
units (“
Units”) of Dream Hard Asset Alternatives
Trust (
TSX:DRA.UN) (“
DAT”) in
lieu of asset management fees, representing approximately 0.5% of
the issued and outstanding Units. Prior to the acquisition, DAM and
its joint actors owned 15,787,725 Units representing approximately
23.0% of the issued and outstanding Units and, following the
acquisition, DAM and its joint actors own 16,105,076 Units
representing approximately 23.4% of the issued and outstanding
Units.
DAM has agreed to accept Units in satisfaction
of the management fees in order to increase its ownership stake in
DAT and to preserve the business’s cash to support the cash
distributions by DAT while DAT seeks to increase the market value
of the Units by offering to purchase Units. 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. 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, Senior 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 over $16 billion of assets under management in North
America and Europe. The scope of the business includes asset
management and management services for four Toronto Stock Exchange
listed trusts and institutional partnerships, condominium and
mixed-use development, investments in and management of a renewable
power portfolio, commercial property ownership, residential land
development, and housing and multi-family development. 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.Pauline AlimchandaniEVP &
Chief Financial Officer(416) 365-5992palimchandani@dream.ca |
|
Kim LefeverDirector, Investor Relations(416)
365-6339klefever@dream.ca |
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