CanaDream Corporation
TSX VENTURE : CDN

CanaDream Corporation

January 16, 2015 09:00 ET

CanaDream Corporation Announces Completion of Sale of Calgary Property

CALGARY, ALBERTA--(Marketwired - Jan. 16, 2015) - CanaDream Corporation (TSX VENTURE:CDN) today announced it has completed the previously announced sale of its Calgary property located at 2510 27th Street N.E.

The Company completed the sale of its current Calgary location for total proceeds of $3.2 million on December 16th, 2014. As a result of the sale, the Company will realize a gain of $438,000, to be recorded in the third quarter of the fiscal year ending April 30, 2015. After deducting expenses related to transaction costs and the outstanding mortgage balance, the Company received net cash proceeds of $1.8 million.

The Company will be relocating to its new 21,000 square foot facility on 10.4 acres located at 292154 Crosspointe Drive, Rocky View County, in February 2015. During this transition period, the Company is leasing their current premises from the new owners until February 28, 2015.

CanaDream Corporation promotes Canada and the opportunity to "experience Canada at your own pace™" in recreational vehicles and sells its guest experienced recreational vehicle fleet on a wholesale and retail basis. The Company is utilizing its proprietary business-to-business web-enabled system, www.canadasbest.com, and its business-to-consumer on-line internet reservation system, www.canadream.com, to operate and expand its network of RV rental locations in Canada. CanaDream maintains six Company-operated locations in Calgary, Vancouver, Whitehorse, Toronto, Montreal, and Halifax. CanaDream now offers a global RV solution by partnering with Apollo Motorhome Holidays in Australia, New Zealand and the USA. The Company is also leveraging its proprietary technology to build a collective membership network of associate dealers that are fully interconnected to CanaDream's e-commerce systems. CanaDream currently has one associate dealer franchisee in Edmonton, Alberta.

Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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