February 06, 2008
CanaDream Corporation Acquires Land and Building
CanaDream has exercised its option to purchase the land and building it currently leases at 2510 27 Street N.E., Calgary.
The purchase price under the option is $1.825 million, while the current appraised value at January 15, 2008 is $3.3 million, indicating an unrealized gain of $1.475 million. CanaDream will finance the entire purchase price by a Royal Bank of Canada twenty year mortgage. The mortgage rate will be set on May 1, 2008, the anticipated closing date for the purchase.
CanaDream is a Canadian tourism company that is utilizing its proprietary business–to–business webenabled 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. The Company is also leveraging its proprietary technology to build a franchised network of associate dealers that are fully interconnected to CanaDream’s e–commerce systems. CanaDream has two associate dealer franchisees in Kelowna and Victoria, British Columbia.
For further information please contact:
Brian Gronberg, President and CEO, CanaDream Corporation
Phone: 800-461-7368
Email: brian@canadream.com
Website:www.canadream.com
