Issues 31,533,682 Subordinate Voting Shares to Sweet Dream Corp.
TORONTO, ONTARIO–(Marketwired – May 15, 2017) – DREAM UNLIMITED CORP. (TSX:DRM) (TSX:DRM.PR.A) (“Dream”, the “Corporation” or “our”) today announced that Sweet Dream Corp. (“SDC“), a corporation controlled by Michael Cooper, the President & Chief Responsible Officer of the Corporation, has exercised its right to be issued 31,533,682 Subordinate Voting Shares of the Corporation, representing approximately 28.9% of the post-issuance 109,054,978 outstanding subordinate voting shares, in exchange for all of SDC’s non-voting common shares and Class C preferred shares of Dream Asset Management Corporation (“DAM“) pursuant to the terms of the existing exchange agreement.
Upon completion of the exchange expected to be on May 19, 2017, Dream will own 100% of the voting and equity shares of DAM, which will simplify Dream’s financial reporting as the previous non-controlling interest will be eliminated.
As of May 19, 2017, Michael Cooper will be deemed to beneficially own, in accordance with applicable securities laws, 3,086,583 common shares and 34,339,495 subordinate voting shares of the Corporation, representing approximately 99.1% of the outstanding common shares and 31.5% of the outstanding subordinate voting shares and collectively representing approximately 81.6% of the votes attached to the outstanding voting shares of the Corporation.
About Dream Unlimited Corp.
Dream is one of Canada’s leading real estate companies with approximately $14.0 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.
Michael J. Cooper
President & Chief Responsible Officer
Dream Unlimited Corp.
Chief Financial Officer