October 28, 2011 19:10 ET

CanaDream Corporation Announces Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - Oct. 28, 2011) -

CANADREAM CORPORATION (TSX VENTURE:CDN) announces today that it will purchase at market price up to 987,633 common shares being approximately 5% of the issued and outstanding common shares, by way of a normal course issuer bid through the facilities of the TSX Venture Exchange. The bid is subject to regulatory approval. The bid will commence November 2, 2011 and will stay open for 12 months. Purchases pursuant to the Bid will be made by Raymond James. The reason for the bid is that, in the opinion of the board of directors, the value of CanaDream Corporation, based on anticipated cash flows and underlying asset values, is greater than the present aggregate market price of the common shares and accordingly, the acquisition of common shares under the bid represents a worthwhile investment and appropriate use of funds.

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.

Contact Information

  • CanaDream Corporation
    Brian Gronberg
    (403) 291-1000