TORONTO, ONTARIO -- (Marketwired) -- 08/27/15 -- DREAM Unlimited Corp. (TSX: DRM)(TSX: DRM.PR.A) ("Dream") announced today that the Toronto Stock Exchange (the "TSX") has accepted its Notice of Intention to make a normal course issuer bid. Under the bid, Dream will have the ability to purchase for cancellation up to a maximum of 3,789,759 of its Class A Subordinate Voting Shares (representing 5% of Dream's 75,795,177 issued and outstanding Class A Subordinate Voting Shares as at August 24, 2015) through the facilities of the TSX at prevailing market prices and in accordance with the rules and policies of the TSX. The actual number of Class A Subordinate Voting Shares that may be purchased and the timing of any such purchases will be determined by Dream, subject to a maximum daily purchase limitation of 28,927 shares which equals 25% of the average daily trading volume during the period from February 1, 2015 to July 31, 2015 (being 115,706 shares per day), except where purchases are made in accordance with "block purchase" exemptions under applicable TSX rules. The bid will commence on September 2, 2015 and remain in effect until the earlier of September 1, 2016 or the date on which Dream has purchased the maximum number of shares permitted under the bid.
Dream intends to make the bid because it believes that shares may become available during the period of the bid at prices that would make the purchase of such shares for cancellation in the best interests of Dream and its shareholders.
As of August 26, 2015, under its prior normal course issuer bid which terminates on September 1, 2015, Dream purchased for cancellation 559,800 Class A Subordinate Voting Shares at an average weighted price of $9.14 for a total cost of $5.1 million.
About DREAM Unlimited Corp.
Dream is one of Canada's leading real estate companies with approximately $15 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 and one TSX-listed diversified, hard asset alternatives trust, 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.
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 August 27, 2015. 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).
Contacts:
Dream Unlimited Corp.
Michael J. Cooper
Chief Executive Officer
(416) 365-5145
mcooper@dream.ca
Pauline Alimchandani
Chief Financial Officer
(416) 365-5992
palimchandani@dream.ca
