CALGARY, Alberta, March 7, 2025 – Mainstreet Equity Corp. – TSX:MEQ
Mainstreet is pleased to announce the successful completion of its Annual General Meeting (AGM), held March 6, 2025, where approximately 90% of shares were represented, in person or by proxy, reflecting strong shareholder engagement and confidence.
"We are incredibly pleased with this year’s high participation," said Bob Dhillon, CEO and Founder of Mainstreet. "This strong voter turnout highlights our shareholders' commitment and confidence in our strategic direction."
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 Vote |
Votes For |
% |
Withheld |
% |
|
|
Navjeet (Bob) Dhillon |
Elected |
7,578,865 |
91.50% |
703,753 |
8.50% |
|
Joseph Amantea |
Elected |
7,089,123 |
85.59% |
1,193,495 |
14.41% |
|
Ron B. Anderson |
Elected |
7,220,688 |
87.18% |
1,061,930 |
12.82% |
|
Karanveer Dhillon |
Elected |
7,240,038 |
87.41% |
1,042,580 |
12.59% |
|
Richard Grimaldi |
Elected |
7,243,783 |
87.46% |
1,038,835 |
12.54% |
|
John Irwin |
Elected |
7,183,013 |
86.72% |
1,099,605 |
13.28% |
PricewaterhouseCoopers LLP was re-appointed as the Corporation’s auditor.
In addition, the renewal and amendment of the Corporation’s Shareholder Rights Plan was approved with 77.15% in favour and 22.85% against after excluding shares held by Navjeet (Bob) Dhillon, who is considered a Grandfathered Person for purposes of the Shareholder Rights Plan.
Details in respect of all of the resolutions approved at the AGM may be found in the Management Information Circular prepared in connection with the meeting dated January 30, 2025, available at www.sedarplus.ca.
The strong shareholder representation at our AGM reaffirms confidence in our leadership and the direction we’re taking," added Trina Cui, CFO of Mainstreet. "We appreciate our investors' active involvement and their contributions to our continued success."
Mainstreet remains committed to fostering transparency and engagement with its shareholders as it moves forward with its strategic priorities.
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, with year-to-date holdings of over 18,500 units. The company's long-term value is anchored by a counter-cyclical strategy to aggressively acquire undervalued units 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. As at Q1 2025, Mainstreet’s assets were valued at approximately CDN $3.5 billion based on IFRS value.
SOURCE: Mainstreet Equity Corp. (TSX:MEQ)
For further information:
Bob Dhillon, O.C, MBA, DCom, LLD, ICD.D | Founder, President & CEO
Direct: 1.403.215.6063
Executive Assistant: 1.403.215.6070
305 - 10 Ave. SE, Calgary, AB T2G 0W2
www.mainst.biz
www.sedarplus.ca