TORONTO--(BUSINESS WIRE)--DREAM IMPACT TRUST (TSX: DRA.UN) (“Dream Impact” or the “Trust”) is pleased to confirm that, as previously announced, it has changed its name from “Dream Hard Asset Alternatives Trust” to “Dream Impact Trust”. The units of the Trust are expected to commence trading on the Toronto Stock Exchange under the new name and the new ticker symbol “MPCT.UN” at the opening of markets on October 29, 2020. The CUSIP and ISIN number assigned to the units of the Trust following the name change are 26154L102 and CA26154L1022, respectively.
The name change does not affect the structure of the Trust or the rights of unitholders and no action is required to be taken by existing unitholders. Each existing certificate representing units issued under the Trust’s former name will continue to represent a valid certificate until such certificate is transferred, re-registered or otherwise exchanged.
The Trust has changed its name to “Dream Impact Trust” to better align with its increasing focus on investments that generate strong financial returns and positive social and economic investments. As Canada’s first publicly traded impact investment vehicle, the Trust’s new name comes at an ideal time. Impact investing (investing with the intention to generate a positive, measurable, social and environmental impact alongside a market return) is one of the fastest growing segments of the $3.2 trillion sustainable investing market. The Trust is well positioned, with its existing assets and robust development pipeline, to capitalize on this growing market and deliver value to its stakeholders while generating positive impacts.
About Dream Impact
Dream Impact is a real estate impact investing vehicle that targets projects that create positive and lasting impacts on communities and the environment, while achieving market returns. Dream Impact provides investors with access to an exceptional portfolio of real estate development and income properties that would not be otherwise available in a public and fully transparent vehicle, managed by an experienced team with a successful track record in these areas. The objectives of the Trust are to provide investors with a portfolio of high-quality real estate development opportunities and alternative assets that generate both strong financial returns and provide positive social and environmental impacts in our communities; balance growth and stability of the portfolio, increasing cash flow, unitholders' equity and NAV over time; and provide predictable cash distributions to unitholders on a tax-efficient basis. For more information, please visit: www.dreamimpacttrust.ca.
This press release may contain forward-looking information within the meaning of applicable securities legislation, including statements relating to our objectives, strategies to achieve those objectives, our beliefs, plans, estimates, projections and intentions, and similar statements concerning anticipated future events, future growth, results of operations, performance, business prospects and opportunities. The specific forward-looking information in this press release includes: statements regarding the Trust’s name change and the timing for the units of the Trust to begin trading on the Toronto Stock Exchange under the new name and ticker symbol and the demand for and expected returns on our impact investments. 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 the Trust’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 including foreign exchange rates; employment levels; mortgage and interest rates and regulations; the uncertainties around the timing and amount of future financings; uncertainties surrounding the COVID-19 pandemic; regulatory risks; environmental risks; consumer confidence; the financial condition of tenants, residents and borrowers; local real estate conditions; reliance on key clients, partners and personnel; the uncertainties of acquisitions and new projects; inflation; and competition. Assumptions upon which forward-looking information is based may include, but are not limited to: a gradual recovery and growth of the general economy over the remainder of 2020 and 2021; relatively historically low interest costs; a continuing trend toward land use intensification at reasonable costs and development yields, including residential development in urban markets; access to equity and debt capital markets to fund, at acceptable costs, future capital requirements and to enable our refinancing of debts as they mature; the availability of investment opportunities for growth in Canada; the timing and ability to sell certain properties; and the valuations to be realized on property sales relative to current IFRS values. All forward-looking information in this press release speaks as of October 26, 2020. The Trust 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 the Trust’s filings with securities regulators filed on SEDAR (www.sedar.com). These filings are also available at the Trust’s website at www.dreamimpacttrust.ca.