Mainstreet's Board of Directors believes that the purchase of Common Shares pursuant to the normal course issuer bid is in the best interests of Mainstreet and its shareholders as the Common Shares may become available for purchase at prices which make them an appropriate use of Mainstreet's funds. All shares purchased under the issuer bid will be cancelled and returned to treasury. Mainstreet intends to acquire Common Shares from time to time in amounts and prices which its management believes are favourable and consistent with prudent economic and financial considerations.
Any purchases made by Mainstreet under the bid will be made through the facilities of and in accordance with the rules of the TSX.
Established in 1997, 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 Vancouver/Lower Mainland (Surrey),
Mainstreet's common shares are listed on the
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements, including those regarding the intentions of the Corporation with respect to the Bid. Such statements are based on assumptions by and information available to the Corporation and management's best estimates of future events. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Actual results may differ materially from those currently anticipated. The forward-looking statements contained herein are expressed qualified by this cautionary statement.