CanaDream Corp. and Apollo Motorhome Ultimate Holdings Pty Ltd. announced that they have completed the previously announced equity investment by Apollo in CanaDream of $1,971,669.
The investment into Calgary, Alberta-based CanaDream consists of the issuance by CanaDream to Apollo of 3,286,115 common shares and warrants to purchase up to 1,975,816 common shares.
Brisbane, Australia-based Apollo and its affiliate, Apollo Finance Pty Ltd., now collectively own an aggregate of 3,912,115 common shares, or approximately 19.8% of CanaDream.
If Apollo exercises all of the warrants, Apollo and Apollo Finance will collectively own 5,887,931 shares or approximately 27.1% of CanaDream.
CanaDream is a Canadian tourism company that operates a network of RV rental locations in Canada.
Apollo is the largest privately owned leisure vehicle operator in the Southern Hemisphere with a fleet of over 3,000 vehicles and 300 employees. It has 10 branches in Australia, two in New Zealand and three in the U.S.