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

CALGARY, Alberta--(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.

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)