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Mainstreet Equity Corp. held Annual Shareholder Meeting on March 7, 2024

Business Wire
·2 min read

CALGARY, Alberta, March 08, 2024--(BUSINESS WIRE)--Mainstreet Equity Corp. ("Mainstreet" or the "Corporation") (TSX:MEQ) is pleased to announce the results of the annual meeting of shareholders held on March 7, 2024 (the "Meeting"). The Meeting had a very strong shareholder turnout with holders of approximately 83% of the issued and outstanding common shares represented in person or by proxy.

Navjeet (Bob) Dhillon, Joseph Amantea, Ron Anderson, Karanveer Dhillon, Richard Grimaldi and John Irwin were re-elected to the board of directors of the Corporation for the upcoming year as follows:

 

Outcome of the Vote

Votes For

%

Withheld

%

Navjeet (Bob) Dhillon

Elected

6,759,126

87.88

931,969

12.12

Joseph Amantea

Elected

6,379,734

82.95

1,311,361

17.05

Ron Anderson

Elected

6,395,919

83.16

1,295,176

16.84

Karanveer Dhillon

Elected

6,407,273

83.31

1,283,822

16.69

Richard Grimaldi

Elected

6,381,144

82.97

1,309,951

17.03

John Irwin

Elected

6,381,769

82.98

1,309,326

17.02

PricewaterhouseCoopers LLP was re-appointed as the Corporation’s auditor.

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Details in respect of all of the resolutions approved at the annual meeting of shareholders may be found in the Management Information Circular prepared in connection with the meeting dated February 1, 2024, available on SEDAR+ at www.sedarplus.ca.

About Mainstreet

Mainstreet Equity Corp. ("Mainstreet") is a Calgary-based real estate operating company, traded on the Toronto Stock Exchange (TSX:MEQ). Mainstreet is a top provider of high-quality, affordable multi-family rental units in western Canada, covering BC, AB, SK, and MB. Since listing on the TSX in 2000, Mainstreet has grown its portfolio from 1,370 units with appraised value of $90 million to 17,720 year-to-date units with appraised value of approximately $3.2 billion with minimal equity dilution. The company’s long-term value is anchored by a counter-cyclical strategy to aggressively acquire undervalued apartments at distressed prices, using low-cost capital. Once acquired, Mainstreet rapidly stabilizes the assets to minimize cycle times and boost net operating income. The company employs a 100% organic, non-dilutive growth model, leveraging its robust liquidity position. There are currently 9,318,818 common shares outstanding.

SOURCE: Mainstreet Equity Corp. (TSX:MEQ)

View source version on businesswire.com: https://www.businesswire.com/news/home/20240308303569/en/

Contacts

For further information:
Bob Dhillon, O.C, MBA, DCom, LLD, ICD.D | Founder, President & CEO
D: +1 (403) 215-6063
Executive Assistant: +1 (403) 215-6070
100, 305 10 Avenue SE, Calgary, AB T2G 0W2 Canada
https://www.mainst.biz/
https://www.sedarplus.ca/