TORONTO,–(BUSINESS WIRE)–Dream Unlimited Corp. (TSX:DRM) (“Dream”) announced today that its interest in Dream Hard Asset Alternatives Trust (TSX:DRA.UN) (“DAT”) is deemed to have increased as a result of the deemed acquisition by Michael Cooper of 211 Units of Dream Hard Asset Alternatives Trust, representing less than 0.05% of the issued and outstanding Units, pursuant to the vesting of the same number of deferred trust units under Dream Hard Asset Alternatives Trust’s Deferred Unit Incentive Plan. Prior to this deemed acquisition, Dream and its joint actors, which include Mr. Cooper, owned 17,065,569 Units representing approximately 26.4% of the issued and outstanding Units. Following Mr. Cooper’s deemed acquisition, Dream and its joint actors own 17,065,780 Units representing approximately 26.4% of the issued and outstanding Units.
Mr. Cooper is deemed to have acquired beneficial ownership of the Units, effective August 17, 2020, pursuant to the vesting of the same number of deferred trust units under Dream Hard Asset Alternatives Trust’s Deferred Unit Incentive Plan. No consideration was paid by Mr. Cooper in connection with the vesting of the deferred trust units resulting in the deemed acquisition of 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, General 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 a leading developer of exceptional office and residential assets in Toronto, owns stabilized income generating assets in both Canada and the U.S., and has an established and successful asset management business, inclusive of $8 billion of assets under management across three TSX listed trusts and numerous partnerships. We also develop land and residential assets in Western Canada for immediate sale. Dream expects to generate more recurring income in the future as its urban development properties are completed and held for the long term. Dream has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities.
Dream Unlimited Corp.
VP & Chief Accounting Officer
Director, Investor Relations
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