October 13, 2006 11:30 ET

CanaDream Corporation Announces Normal Course Issuer Bid

CALGARY, ALBERTA--(CCNMatthews - Oct. 13, 2006) - CANADREAM CORPORATION (TSX VENTURE:CDN) announces today that it will purchase at market price up to 915,462 common shares and $317,300 debentures, being approximately 10% of its public float, 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 October 16, 2006 and will stay open for 12 months. 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 debentures and accordingly, the acquisition of common shares and debentures under the bid represents a worthwhile investment and appropriate use of funds.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release

Contact Information

  • CanaDream Corporation
    Brian Gronberg
    (403) 291-1000