CALGARY, March 16, 2018 /CNW/ - Mainstreet Equity Corp. ("Mainstreet" or the "Corporation") (TSX:MEQ) is pleased to announce the results of the annual and special meeting of shareholders held on March 16, 2018 (the "Meeting"). The meeting had a very strong shareholder turnout with holders of approximately 89% of the issued and outstanding common shares represented in person or by proxy. Navjeet (Bob) Dhillon, Joseph Amantea, Richard Grimaldi, Karanveer Dhillon, John Irwin and Ron Anderson 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

7,016,416

90.50%

741,261

9.50%

Joseph Amantea

Elected

6,112,058

78.33%

1,690,619

21.67%

Richard Grimaldi

Elected

7,012,323

89.87%

790,354

10.13%

Karanveer Dhillon

Elected

7,316,018

93.76%

486,659

6.24%

John Irwin

Elected

7,297,541

93.53%

505,136

6.47%

Ron Anderson

Elected

5,950,623

76.26%

1,852,054

23.74%

 

In addition, Deloitte LLP was re-appointed as the Corporation's auditor.  As previously announced on March 12, 2018, prior to the Meeting the Corporation determined to withdraw from consideration at the Meeting an ordinary resolution to approve a new stock option plan of the Corporation, and as such, the resolution was not submitted to the Corporation's shareholders.

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 9, 2018 which is available on SEDAR at www.sedar.com.

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 8,832,305 common shares outstanding.

SOURCE Mainstreet Equity Corporation