Dream Residential REIT Announces Normal Course Issuer Bid and Automatic Securities Purchase Plan

Jan 04, 2023

DREAM RESIDENTIAL REAL ESTATE INVESTMENT TRUST (TSX: DRR.U) or (“Dream Residential REIT”, the “Trust” or “we”) announced today that the Toronto Stock Exchange (“TSX”) has accepted its Notice of Intention to make a normal course issuer bid (the “Bid”). Under the Bid, the Trust will have the ability to purchase for cancellation up to a maximum of 973,418 of its Trust Units (the “Units”) (representing 10% of Dream Residential REIT’s public float of 9,734,182 Units) through the facilities of the TSX. The Bid will commence on January 6, 2023 and will remain in effect until the earlier of January 5, 2024 or the date on which Dream Residential REIT has purchased the maximum number of Units permitted under the Bid. Daily repurchases will be limited to 3,658 Units, representing 25% of the average daily trading volume of the Units on the TSX during the last six calendar months (being 14,635 Units per day), other than purchases pursuant to applicable block purchase exceptions. As of December 23, 2022, the number of issued and outstanding Units is 11,772,421.

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