Apollo Motorhome Ultimate Holdings Pty Ltd Announces Agreement to Acquire Common Shares and Warrants of CanaDream Corporation

    NORTHGAGE (BRISBANE), Australia, Aug. 25 /CNW/ - Apollo Motorhome
Ultimate Holdings Pty Ltd ("Apollo"), an Australian-based leisure vehicle
operator, today announced that it has committed to purchase 3,286,115 common
shares ("Common Shares") in the capital of CanaDream Corporation ("CanaDream")
and warrants (the "Warrants") to purchase up to an aggregate of 1,975,816
Common Shares for $1,971,669 in cash, or $0.60 per Common Share.
    The Warrants are exercisable at an exercise price of $0.60 per share. The
term of the Warrants is for a period of 24 months from the closing date of the
transaction (the "Expiry Date") and one-half of the Warrants, being the
portion of the Warrants exercisable for 987,908 Common Shares, will be
exercisable during the period from the closing date of the transaction to
April 30, 2010. During the period from May 1, 2010 to the Expiry Date, and to
the extent not previously exercised, all of the Warrants will be exercisable.
Closing of the transaction is expected to take place on or about September 1,
    Upon completion of the transaction, Apollo and its affiliate, Apollo
Finance Pty Ltd ("Apollo Finance"), will collectively own an aggregate of
3,912,115 Common Shares, or approximately 19.8% of the then issued and
outstanding Common Shares. If Apollo exercises all of the Warrants that are
immediately exercisable, Apollo and Apollo Finance will collectively own an
aggregate of 4,900,023 Common Shares, or approximately 23.6% of the then
outstanding Common Shares. If Apollo exercises all of the Warrants, Apollo and
Apollo Finance will collectively own an aggregate of 5,887,931 Common Shares,
or approximately 27.1% of the then outstanding Common Shares.
    Apollo and CanaDream also plan to pursue certain opportunities for
synergy for the mutual benefit of each of their respective businesses in
Canada. In announcing the proposed transaction, Mr. Luke Trouchet, the CEO of
Apollo, said "We feel very privileged and honoured to have been able to invest
in and align ourselves with such a well respected business as CanaDream. Our
expansion to Canada answers the call of many travel industry partners who are
looking for global RV rental partners."
    Mr. Brian Gronberg, the President & CEO of CanaDream, said "This is an
exciting development for CanaDream. By aligning ourselves with Apollo we are
joining forces with a company that is a global RV solution. Both companies
share a philosophy of exceptional customer service, quality vehicles and
competitive rates."
    Apollo is purchasing the Common Shares and Warrants for investment
purposes and may increase or decrease its equity investment in CanaDream
through market transactions, private agreements, treasury issuances, exercise
of options, warrants or other convertible securities or otherwise at any time
depending on market conditions and any other relevant factors from time to
    Apollo's address is 698 Nudgee Road, Northgate (Brisbane), Australia QLD

    About Apollo

    Apollo is the largest privately owned leisure vehicle operator in the
Southern Hemisphere with a fleet of over 3000 vehicles and 300 employees. It
has ten branches in Australia, two in New Zealand and three in the USA.
    Apollo's first international expansion was in 2003 when it opened in New
Zealand. In 2008 Apollo opened in the USA after acquiring Los Angeles based
Happy Travel Campers. Demand was so great that the company opened in Las Vegas
and San Francisco, quickly becoming a major force in RV rental.

For further information:

For further information: Apollo Motorhome Holidays, Luke Trouchet, CEO,
Phone: +61 7 3265 9200, Email: luke@apollocamper.com, Web:

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