VANCOUVER, March 6, 2019 /CNW/ - Sandpiper Group ("Sandpiper") announced today that it has acquired 27,850 units (the "Units") of Dream Hard Asset Alternatives Trust ("DAT") (TSX: DRA.UN), representing approximately 0.038% of the outstanding Units (as reported in DAT's management's discussion and analysis dated February 20, 2019), in the open market under the facilities of the Toronto Stock Exchange on March 5, 2019 at an average price of $6.86 per Unit or $191,051 in the aggregate (the "Acquisition").
Immediately prior to giving effect to the Acquisition, Sandpiper owned and exercised control and direction over, in the aggregate, 7,278,584 Units representing approximately 9.9% of the outstanding Units (as reported in DAT's management's discussion and analysis dated February 20, 2019). Immediately after giving effect to the Acquisition, Sandpiper owns and exercises control and direction over, in the aggregate, 7,306,434 Units, representing approximately 10.0% of the outstanding Units (as reported in DAT's management's discussion and analysis dated February 20, 2019).
Sandpiper acquired the securities of DAT based on its belief that the securities are undervalued and represent an attractive investment opportunity.
Sandpiper has engaged, and intends to continue to engage, in discussions with DAT leadership and looks forward to further dialogue with regards to, among other things, capital allocation, corporate governance and board composition, corporate strategy and opportunities to maximize unitholder value. Further, Sandpiper may from time to time engage with other unitholders of DAT regarding DAT, its business and prospects, board composition and potential means for maximizing unitholder value. Consistent with Sandpiper's investment intent, Sandpiper may also from time to time advocate or oppose one or more courses of action and may take such steps as it deems necessary to alter the board composition.
Depending upon overall market conditions, other investment opportunities available to Sandpiper, and the availability of Units at prices that would make the purchase or sale of Units desirable, Sandpiper may endeavour to increase or decrease their position in DAT through, among other things, the purchase or sale of Units on the open market, in private transactions or otherwise, on such terms and at such times as Sandpiper may deem advisable.
The head office of DAT is 30 Adelaide Street East, Suite 301, Toronto, Ontario, M5C 3H1.
The head office of Sandpiper Group is Suite 1670, 200 Burrard Street, Vancouver, British Columbia, V6C 3L6.
For further information and to obtain a copy of the early warning report filed by Sandpiper, please see DAT's profile on the SEDAR website www.sedar.com or contact Alyssa Barry, Vice President Capital Markets and Communications, Sandpiper Group at (604) 558-4885.
ABOUT SANDPIPER GROUP
Sandpiper is a Vancouver-based private equity firm focused on investing in real estate through direct property investments and securities. For more information about Sandpiper, visit www.sandpipergroup.ca.
SOURCE Sandpiper Group
For further information: Investors: Alyssa Barry, Vice President, Capital Markets and Communications, Sandpiper Group, Phone: 604-558-4885, Email: [email protected]; Media: Gagnier Communications, Dan Gagnier, 646-569-5897, [email protected]