Dream Impact Announces Mailing of Management Information Circular in Connection With Special Meeting of Unitholders to Approve Amendments to the Terms of Its 5.50% Convertible Unsecured Subordinated Debentures

Executive Summary

• Dream Impact Trust is seeking unitholder approval for a conversion price amendment and other changes to its 5.50% convertible unsecured subordinated debentures due 2026.
• The amendment raises the conversion price from $7.755 to $2.75 per unit (a 59‑62% premium) and increases the interest rate to 6.50%, while extending maturity to July 31, 2031 and adding a cash‑payment option for conversions.
• A subsidiary holding ~37% of the Trust’s units has committed to vote in favour; consent from debentureholders representing at least 66% of principal is also expected.

Key Details

• Meeting Information: Special meeting of unitholders scheduled for 2:00 p.m. (Toronto time) on 27 Nov 2025 at Osler, Hoskin & Harcourt LLP, Toronto. Unitholders of record as of close of business on 17 Oct 2025 are entitled to vote.
• Debenture Summary: $30 million aggregate principal amount outstanding.
• Conversion Price Amendment: New conversion price = $2.75 per Trust unit (up from $7.755), representing a 59% premium to the 17 Oct 2025 closing price and a 62% premium to the 17 Sep 2025 price when the amendment was first announced.
• Interest Rate Change: From 5.50% to 6.50%.
• Maturity Extension: Original maturity 31 Jul 2026 → extended to 31 Jul 2031 (additional five years).
• Cash Conversion Option: Trust may elect to satisfy any conversion request in cash rather than issuing units, subject to sufficient liquidity.
• Voting Requirements: Simple majority (≥50% + 1 vote) of votes cast at the meeting needed for the Conversion Price Amendment; consent from debentureholders representing ≥66% of principal also required.
• Support: A Dream Unlimited Corp. subsidiary holding 6,852,681 units (~37% of outstanding units) has pledged to vote in favour. HWIC (investment manager for beneficial debenture holders) has agreed to consent to the amendments.
• Board Recommendation: Board of Trustees unanimously recommends unitholders vote “FOR” the amendment.
• How to Vote / Materials: Meeting materials filed on SEDAR and the Trust’s website; proxy voting deadline 5:00 p.m. (Toronto time) on 25 Nov 2025.

Notable Quotes

(No direct quotes were provided in the release.)