Mainstreet Equity Corp. files amended normal course issuer bid

About this update from Mainstreet Equity Corp.

[{"type":"text","content":"\n\n\n\nCALGARY, Feb. 23 /CNW/ - Mainstreet Equity Corp. ("Mainstreet" or the\n"Corporation") (TSX:MEQ) announces that subject to acceptance by the Toronto\nStock Exchange (the "TSX"), the Corporation proposes to amend its current\nnormal course issuer bid ("Bid") to increase the maximum number of common\nshares of the Corporation ("Common Shares") that may be acquired by way of the\nBid from 700,000 to 1,042,437 representing approximately 10% of the\noutstanding Common Shares in the public float on the date of acceptance of the\ninitial notice of the Bid. All other terms of the Bid, as previously described\nin the press release dated July 30, 2008 remain the same.\n\n\nMainstreet's Board of Directors believes that the purchase of Common\nShares pursuant to the normal course issuer bid is in the best interests of\nMainstreet and its shareholders as the Common Shares may become available for\npurchase at prices which make them an appropriate use of Mainstreet's funds.\nAll shares purchased under the issuer bid will be cancelled and returned to\ntreasury. Mainstreet intends to acquire Common Shares from time to time in\namounts and prices which its management believes are favourable and consistent\nwith prudent economic and financial considerations.\n\n\nAny purchases made by Mainstreet under the bid will be made through the\nfacilities of and in accordance with the rules of the TSX.\n\n\nAbout Mainstreet\n\n\nEstablished in 1997, Mainstreet is a Calgary-based, growth-oriented real\nestate corporation focused on the acquisition, redevelopment, repositioning,\nand asset and property management of mid-market apartment buildings. The\nCorporation currently owns and operates residential rental units, including\napartments and townhouses, in Vancouver/Lower Mainland (Surrey), Calgary,\nEdmonton, Saskatoon and Greater Toronto Area.\n\n\nMainstreet's common shares are listed on the Toronto Stock Exchange under\nthe symbol "MEQ".\n\n\nMembers of Mainstreet's Board of Directors have reviewed this news\nrelease prior to distribution.\n\n\n","length":2167,"tagName":"div"}]

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