Dream Hard Asset Alternatives Trust completes initial public offering and reorganization of funds

Dream Hard Asset Alternatives Trust (Dream Alternatives) completed its initial public offering with the issuance of 72,617,739 units to ROI Canadian High Income Mortgage Fund, ROI Canadian Mortgage Income Fund, ROI Canadian Real Estate Fund and ROI Institutional Private Placement Fund (ROI Funds), which were then distributed to the unitholders of the ROI Funds, and the issuance of 1 million units to Return On Innovation Advisors Ltd. (ROI Capital), all pursuant to a prospectus of Dream Alternatives dated July 4, 2014. The units of Dream Alternatives are listed on the TSX.

Dream Alternatives’ initial public offering followed its acquisition of assets pursuant to a reorganization of the ROI Funds, together with the relevant underlying reference funds.

Pursuant to the Reorganization, the assets of these funds were indirectly transferred to Dream Alternatives in consideration for the issuance of units of Dream Alternatives. Dream Alternatives will be managed by DREAM Asset Management Corporation (DREAM), a subsidiary of DREAM Unlimited Corp.

DREAM and Dream Alternatives were represented by George Valentini, Executive Vice-President and General Counsel of DREAM; and by a team from Osler, Hoskin & Harcourt LLP led by Doug Marshall and Andrew Aziz  and including John Valley and Lauren Hulme (corporate and securities); Stella Di Cresce and Daniel Michaels (real estate); and by Wilson & Partners LLP with a team led by David Glicksman and Manjit Singh (tax).

TD Securities Inc. acted as financial advisor to ROI Capital. ROI Capital and the ROI Funds were represented by Stikeman Elliott LLP with a team led by Philip Henderson (corporate and securities) and including Kathleen Ward,  Jeff Hershenfield, Anne Weintrop, Damian Lopez and Amit Bhanot (corporate and securities); Douglas Klaassen and Annie Pyke (real estate); John Lorito, Alan Kenigsberg, Jonathan Willson and Kyle Lamothe (tax) and Michael Kilby (competition).

The shareholders of ROI Capital were represented by Davis LLP.  The team from Davis was led by Noam Goodman and included Cathy Butti.