Mainstreet Equity Corp. announces results of substantial issuer bid

About this update from Mainstreet Equity Corp.

[{"type":"text","content":"\n\n\n\nCALGARY, Jan. 20 /CNW/ - Mainstreet Equity Corp. (the "Corporation")\n(TSX:MEQ) announced today the final results of its substantial issuer bid to\npurchase for cancellation up to 4 million of its common shares ("Shares") at a\npurchase price of $6.25 per Share, which expired at 5:00 p.m. (Eastern\nStandard time) on January 20, 2009 (the "Offer").\n\n\nBased on final reports from Computershare Investor Services Inc., the\ndepositary for the Offer, 3,304,194 Shares were tendered pursuant to the\nOffer. Accordingly, the Corporation will take up and accept for purchase and\ncancellation at a price of $6.25 per Share, a total of 3,304,194 Shares for a\ntotal cost of $20,651,212 (excluding fees and expenses relating to the Offer)\nin accordance with the terms of the Offer. Payment to the depositary for\nShares validly deposited and taken up by the Corporation will be made as soon\nas practicable after the Shares are taken up.\n\n\nThe Shares represent approximately 23.8% of the Shares outstanding as of\nJanuary 20, 2009. After giving effect to the purchase and cancellation of the\nShares, the Corporation will have approximately 10,569,279 Shares outstanding.\n\n\nThe full details of the Offer are described in the Offer to Purchase and\nCircular, the related Letter of Transmittal and all other Offer documents\nfiled by the Corporation on SEDAR at www.sedar.com.\n\n\n","length":1461,"tagName":"div"}]

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