MAINSTREET ANNOUNCES NORMAL COURSE ISSUER BID

About this update from Mainstreet Equity Corp.

[{"type":"text","content":"\n \n \n \n MAINSTREET ANNOUNCES NORMAL COURSE ISSUER BID\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n May 30, 2022\n \n \n /CNW/ ‑ Mainstreet Equity Corp. (\"Mainstreet\" or the \"Corporation\") (TSX: MEQ) today announced that the Toronto Stock Exchange (\"TSX\") has accepted its notice of intention to make a normal course issuer bid to purchase outstanding common shares of the Corporation (\"Shares\") on the open market in accordance with the rules of the TSX.\n \n \n \n \n \n \n \n \n \n The Corporation is authorized to purchase up to 477,109 Shares under the normal course issuer bid, representing approximately 10% of its public float of issued and outstanding Shares, as of\n \n May 19, 2022\n \n . As of that date, there were 9,340,518 Shares issued and outstanding. The average daily trading volume of the Shares for the past six months ended\n \n April 30, 2022\n \n , calculated in accordance with the rules of the TSX, was 2,306 and Mainstreet is subject to a daily repurchase limit of 1,000 Shares. Mainstreet intends to commence the normal course issuer bid on\n \n June 1, 2022\n \n and terminate the bid on\n \n May 31, 2023\n \n or such earlier time as the bid is completed or terminated at the option of Mainstreet.\n \n \n All shares purchased under this bid will be purchased in the open market through the facilities of the TSX and/or alternative Canadian trading systems at the prevailing market price at the time of such transaction. Shares acquired under the bid will be cancelled.\n \n \n 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. During the period between\n \n June 1, 2021\n \n and the date hereof, Mainstreet repurchased 4,700 Shares under its previous normal course issuer bid, at an average weighted price of\n \n $112.44\n \n per Share, with such repurchases being made through the facilities of the TSX and alternative...

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