CALGARY, Jan. 9, 2019 /CNW/ - Mainstreet Equity Corp. ("Mainstreet" or the "Corporation") (TSX:MEQ) is pleased to announce the appointment of PricewaterhouseCoopers ("PWC") as its auditor.
Mainstreet commenced a tender process in respect of its annual audit work in July 2018. The tender was closed in October 2018 and Mainstreet received submissions from a number of audit firms during this process. These submissions were reviewed by the Audit Committee and, based upon a number of criteria, the Audit Committee ultimately recommended to the board of directors of Mainstreet that PWC be appointed as its auditors commencing in the 2019 fiscal year.
Mainstreet's Board of Directors approved the appointment of PWC and accepted the resignation of Deloitte LLP effective January 9, 2019. Deloitte LLP resigned as auditor at Mainstreet's request and there were no reservations or modified opinions on any of the Company's financial statements since Deloitte LLP was appointed auditor of the Company, nor, in the opinion of the Company, were there any "reportable events" as defined in National Instrument 51-102 during such period.
Mainstreet Equity Corp. is a publicly traded (TSX: MEQ) residential real estate company in Canada. Mainstreet positions itself as a value creator by purchasing under-performing properties, renovating them to a branded standard, improving operating efficiencies and repositioning them in the market for greater returns. Mainstreet currently owns and operates properties in Surrey, BC; New Westminster, BC; Abbotsford, BC; Calgary, AB; Cochrane, AB; Edmonton, AB; Lethbridge, AB; Fort Saskatchewan, AB; Regina, SK; and Saskatoon, SK.
Mainstreet's common shares are listed on the Toronto Stock Exchange under the symbol "MEQ".
SOURCE Mainstreet Equity Corporation