TORONTO–(BUSINESS WIRE)–Dream Unlimited Corp. (TSX:DRM) (“Dream”) has announced that Dream Asset Management Corporation (“DAM”) acquired 450,000 units (“Units”) of Dream Impact Trust (TSX:MPCT.UN) (“Dream Impact”) in lieu of asset management fees payable to DAM pursuant to the management agreement in respect of Dream Impact (“Management Agreement”), representing approximately 2.4% of the issued and outstanding Units. Prior to the acquisition, DAM and its joint actors owned 6,967,526 Units representing approximately 37.8% of the issued and outstanding Units and, following the acquisition, DAM and its joint actors own 7,417,526 Units representing approximately 40.2% of the issued and outstanding Units. The Units beneficially owned by DAM and its joint actors prior to and after the acquisition on November 21, 2025, include 20,325 Units that are issuable to Mr. Michael J. Cooper, the Chief Responsible Officer of DAM, pursuant to the terms of vested deferred trust units owned by Mr. Cooper under the Deferred Unit Incentive Plan of MPCT in respect of which Mr. Cooper has elected to defer their issuance but which Mr. Cooper is deemed to beneficially own.
In 2024, DAM, Dream Impact and Dream Impact Master LP, entered into a letter agreement authorizing the issuance and delivery of 1,800,000 Units to DAM in satisfaction of the base management fees and acquisition fees payable under the Management Agreement for the period from January 1, 2024 to December 31, 2026 (assuming both extension options are exercised). The letter agreement and the issuance of Units to DAM thereunder was approved by unitholders of Dream Impact on June 12, 2024 and by the Toronto Stock Exchange. A summary description of the material terms of the Management Agreement and the letter agreement are included in Dream Impact’s management information circular dated April 19, 2024, and a copy of the Management Agreement and Third Letter Agreement are available under Dream Impact’s SEDAR+ profile at www.sedarplus.com. 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 Dream Impact and Dream Impact Master LP.
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 Dream Impact’s SEDAR+ profile at www.sedarplus.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 Dream Impact’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 real estate developer and has an established and successful asset management business, inclusive of $28 billion of assets under management across three Toronto Stock Exchange listed trusts, our private asset management business and numerous partnerships. We develop land and housing in our master planned communities in Western Canada and hold a growing portfolio of income generating properties across Canada. Dream expects this area of our business to grow as investment properties under construction 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.
Contacts
For further information, please contact:
Dream Unlimited Corp.
Meaghan Peloso
Chief Financial Officer
(416) 365-6322
[email protected]
Kim Lefever
Director, Investor Relations
(416) 365-6339
[email protected]
