NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, Nov. 13, 2019 (GLOBE NEWSWIRE) — Dream Unlimited Corp. (TSX: DRM and DRM.PR.A) (âDreamâ) today announced that it will redeem all of its outstanding First Preference Shares, Series 1 (âSeries 1 Sharesâ) on December 20, 2019 (the âRedemption Dateâ), in accordance with their terms. The Series 1 Shares will be redeemed at a price of $7.16 per share, plus all accrued and unpaid dividends from September 30, 2019 up to but excluding the Redemption Date. There are currently 4,005,729 Series 1 Shares issued and outstanding. Following the Redemption Date, the Series 1 Shares are expected to be delisted from the Toronto Stock Exchange.
The formal notice of redemption will be delivered to registered holders of the Series 1 Shares on behalf of the Corporation by Computershare Trust Company of Canada, the transfer agent and registrar for the Series 1 Shares.
From and after the Redemption Date, holders of the Series 1 Shares will cease to be entitled to dividends or to exercise any rights of shareholders in respect of the Series 1 Shares, except for the right to receive the Redemption Price for their Series 1 Shares.
Payment of the redemption amount for the Series 1 Shares will be made to registered holders of such securities on or after the Redemption Date. Beneficial holders of the Series 1 Shares should contact their financial institution, broker or other intermediary through which they hold the Series 1 Shares to confirm how they will receive their redemption proceeds.
Dream is one of Canadaâs 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.
Forward-looking information
This press release may contain forward-looking information within the meaning of applicable securities legislation, including, but not limited to: statements that Dream will redeem the Series 1 Shares, the timing for the redemption of such Series 1 Shares and statements relating to the redemption price for the Series 1 Shares. 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 Dreamâs control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information.
These assumptions include, but are not limited to: the nature of development lands held and the development potential of such lands, our ability to bring new developments to market, anticipated positive general economic and business conditions, including low unemployment and interest rates, positive net migration, oil and gas commodity prices, our business strategy, including geographic focus, anticipated sales volumes, performance of our underlying business segments and conditions in the Western Canada land and housing markets. 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 the date of this press release. Dream does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions and risks and uncertainties is disclosed in Dreamâs filings with securities regulators filed on SEDAR (www.sedar.com), including its latest annual information form and managementâs discussion and analysis. These filings are also available on Dreamâs website at www.dreamunlimited.ca.
For further information, please contact:
| Pauline Alimchandani EVP & Chief Financial Officer |
Kim Lefever Director, Investor Relations |
| (416) 365-5992 | (416) 365-6339 |
| palimchandani@dream.ca | klefever@dream.ca |