VANCOUVER, BC / ACCESSWIRE / September 6, 2019 / Sandpiper Group ('Sandpiper') announced today that, on behalf of client funds of Sandpiper ("Sandpiper Investors"), it beneficially owns and controls 6,605,650 units (the 'Units') of Dream Hard Asset Alternatives Trust ('DAT')(TSX:DRA.UN), representing a decrease below 10.0% of the outstanding Units (as reported in DAT's news release dated September 4, 2019).
On September 6, 2019, Sandpiper disposed of 893,289 Units of DAT, representing approximately 1.31% of the outstanding Units. The Units were disposed of pursuant to DAT's substantial issuer bid at an average price of $8.00 or $7,146,312 in the aggregate (the "Disposition").
Immediately prior to giving effect to the Disposition, Sandpiper owned and exercised control and direction over, in the aggregate, 7,498,939 Units representing approximately 10.35% of the outstanding Units (as reported in DAT's management's discussion and analysis dated August 7, 2019). Immediately after giving effect to the Disposition, Sandpiper owns and exercises control and direction over, in the aggregate, 6,605,650 Units, representing approximately 9.65% of the outstanding Units (as reported in DAT's news release dated September 4, 2019).
The Units were disposed of for investment purposes. In the future, Sandpiper may, subject to applicable law, acquire or dispose of Units of DAT depending on a number of factors, including but not limited to general market and economic conditions and other available investment opportunities.
DAT's head office is 30 Adelaide Street East, Suite 301, Toronto, Ontario, M5C 3H1.
Sandpiper's head office 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 Renzo Barazzuol, President and Chief Operating Officer, 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 public securities. For more information about Sandpiper, visit www.sandpipergroup.ca.
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SOURCE: Sandpiper Group
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