TSX: MEQ
CALGARY, Jan. 5 /CNW/ - Mainstreet Equity Corp. ("Mainstreet" or the
"Company") (TSX: MEQ) today announced that the previously announced secondary
offering of its common shares has closed.
In connection therewith, 1,950,000 common shares of Mainstreet were sold
by Darrell W. Cook, a member of the Company's Board of Directors, or entities
controlled or affiliated with Mr. Cook, pursuant to a secondary market private
placement at a purchase price of $5.00 per common share. Additionally, 750,000
common shares of Mainstreet, of which 50,000 were owned by Darrell W. Cook or
entities controlled or affiliated with Mr. Cook, were sold through the
facilities of the Toronto Stock Exchange.
A syndicate of agents for the offering was led by Desjardins Securities
Inc. and included Canaccord Capital Corporation.
The Company will not receive any proceeds from the offering.
In commenting on the offering, Bob Dhillon, president and chief executive
officer of Mainstreet, said: "we are extremely pleased with the successful
completion of this equity offering. This will help widen Mainstreet's
shareholder base, attract more investors and improve liquidity of the shares."
Mainstreet Equity Corp. is a publicly traded real estate company focused
on the acquisition, re-development, re-positioning and management of
"mid-market" multi-family residential rental properties across Canada.
