Business
Mainstreet Equity Corp. Announces Closing of Secondary Offering of its Common Shares
Mainstreet Equity Corp. Announces Closing of Secondary Offering of its Common Shares.
About this update from Mainstreet Equity Corp.
[{"type":"text","content":"\n\n\n\n\nTSX: MEQ\n\nCALGARY, Jan. 5 /CNW/ - Mainstreet Equity Corp. (\"Mainstreet\" or the\n\"Company\") (TSX: MEQ) today announced that the previously announced secondary\noffering of its common shares has closed.\nIn connection therewith, 1,950,000 common shares of Mainstreet were sold\nby Darrell W. Cook, a member of the Company's Board of Directors, or entities\ncontrolled or affiliated with Mr. Cook, pursuant to a secondary market private\nplacement at a purchase price of $5.00 per common share. Additionally, 750,000\ncommon shares of Mainstreet, of which 50,000 were owned by Darrell W. Cook or\nentities controlled or affiliated with Mr. Cook, were sold through the\nfacilities of the Toronto Stock Exchange.\nA syndicate of agents for the offering was led by Desjardins Securities\nInc. and included Canaccord Capital Corporation.\nThe Company will not receive any proceeds from the offering.\nIn commenting on the offering, Bob Dhillon, president and chief executive\nofficer of Mainstreet, said: \"we are extremely pleased with the successful\ncompletion of this equity offering. This will help widen Mainstreet's\nshareholder base, attract more investors and improve liquidity of the shares.\"\n\nMainstreet Equity Corp. is a publicly traded real estate company focused\non the acquisition, re-development, re-positioning and management of \n\"mid-market\" multi-family residential rental properties across Canada.\n\n\n","length":1483,"tagName":"div"}]