Dream Impact Trust Renews Normal Course Issuer Bid and Automatic Securities Purchase Plan

Dream Impact Trust (TSX: MPCT.UN) announced today that the Toronto Stock Exchange (“TSX”) accepted a notice filed by Dream Impact Trust (the “Trust”) to renew its prior normal course issuer bid for a one year period. Under the bid, the Trust will have the ability to purchase for cancellation up to a maximum of 4,648,812 of its Units (the “Units”) (representing 10% of the Trust’s public float of 46,488,128 Units as of January 20, 2023) through the facilities of the TSX. The bid will commence on February 1, 2023 and will remain in effect until the earlier of January 31, 2024 or the date on which the Trust has purchased the maximum number of Units permitted under the bid. Daily repurchases will be limited to 12,580 Units, representing 25% of the average daily trading volume of the Units on the TSX during the last six calendar months (being 50,320 Units per day), other than purchases pursuant to applicable block purchase exceptions. As of January 20, 2023, the number of issued and outstanding Units was 67,213,142.

In connection with the renewal of its normal course issuer bid, the Trust has established an automatic securities purchase plan (the “Plan”) with its designated broker to facilitate the purchase of Units under the normal course issuer bid at times when the Trust would ordinarily not be permitted to purchase its Units due to regulatory restrictions or self-imposed blackout periods. Purchases will be made by the Trust’s broker based upon the parameters prescribed by the TSX and the terms of the parties’ written agreement. Outside of such restricted or blackout periods, the Units may also be purchased in accordance with Management’s discretion. The Plan has been pre-cleared by the TSX and will terminate on January 31, 2024.

The Trust has renewed its normal course issuer bid because it believes that Units may become available during the period of the bid at prices that would make the purchase of such Units for cancellation in the best interests of the Trust and its unitholders.

The Trust sought and received approval from the TSX on January 18, 2022 to purchase up to 4,625,500 Units for the period from January 20, 2022 to January 19, 2023. Under this bid the Trust purchased for cancellation 124,000 Units through the facilities of the TSX at a weighted average price per Unit of $6.00 for a total cost of approximately $0.7 million. Please note that the amount of Units repurchased under the bid was in line with both management and board strategy with respect to use of capital for Unit repurchases. Furthermore, the amount of Units that can be repurchased in the market under the TSX rules on a daily basis are subject to various trading restrictions which impact the amount that can be repurchased on a daily basis.

About Dream Impact Trust

Dream Impact Trust is an open-ended trust dedicated to impact investing. Dream Impact's underlying portfolio is comprised of exceptional real estate assets reported under two operating segments: development and investing holdings, and recurring income, that would not be otherwise available in a public and fully transparent vehicle, managed by an experienced team with a successful track record in these areas. The objectives of Dream Impact are to create positive and lasting impacts for our stakeholders through our three impact verticals: environmental sustainability and resilience, attainable and affordable housing, and inclusive communities; while generating attractive returns for investors. For more information, please visit: www.dreamimpacttrust.ca.

Forward Looking Information

This press release may contain forward-looking information within the meaning of applicable securities legislation, including with respect to future purchases of Units by the Trust. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Trust’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to: adverse changes in general economic and market conditions; the impact of the novel coronavirus (COVID-19 and variants thereof) pandemic on the Trust; risks associated with unexpected or ongoing geopolitical events, including disputes between nations, terrorism or other acts of violence, and international sanctions; inflation; the disruption of free movement of goods and services across jurisdictions; the risk of adverse global market, economic and political conditions and health crises; risks inherent in the real estate industry; risks relating to investment in development projects; impact investing strategy risk; risks relating to geographic concentration; risks inherent in investments in real estate, mortgages and other loans and development and investment holdings; credit risk and counterparty risk; competition risks; environmental and climate change risks; risks relating to access to capital; interest rate risk; the risk of changes in governmental laws and regulations; tax risks; foreign exchange risk; acquisitions risk; and leasing risk. All forward looking information in this press release speaks as of January 30, 2023. The Trust does not undertake to update any such forward looking information whether as a result of new information, future events or otherwise. Additional information about these assumptions and risks and uncertainties is disclosed in filings with securities regulators filed on SEDAR (www.sedar.com).

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DREAM IMPACT TRUST

Meaghan Peloso
Chief Financial Officer
(416) 365-6322
[email protected]

Kim Lefever
Director, Investor Relations
(416) 365-6339
[email protected]