CALGARY, March 22, 2013 /CNW/ - Mainstreet Equity Corp. ("Mainstreet" or the "Corporation") (TSX:MEQ) is pleased to announce the results of the annual and special general meeting of shareholders held on March 21, 2013. Navjeet (Bob) N. Dhillon, Joseph B. Amantea, Richard Grimaldi, Karanveer V. Dhillon, John Irwin and Ron Anderson were re-elected to the board of directors of the Corporation for the upcoming year. In addition to the approval of annual resolutions, including the appointment of auditors, resolutions were passed on a majority of the minority basis approving the Corporation's stock option plan and all unallocated stock option entitlements under the stock option plan and ratifying the Corporation's shareholder rights plan which was adopted by the board of directors on February 21, 2013 and previously announced by press release dated February 22, 2013.

About Mainstreet

Mainstreet is a Calgary-based, growth-oriented real estate corporation focused on the acquisition, redevelopment, repositioning, and asset and property management of mid-market apartment buildings.  The Corporation currently owns and operates residential rental units, including apartments and townhouses, in the B.C. Lower Mainland, Calgary,Edmonton and Saskatoon.

Mainstreet's common shares are listed on the Toronto Stock Exchange under the symbol "MEQ".  There are currently 10,465,281 common shares outstanding.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements in this Press Release constitute forward-looking statements under applicable securities legislation. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.

SOURCE: Mainstreet Equity Corporation