CALGARY, Nov. 3 /CNW/ - Mainstreet Equity Corp. ("Mainstreet" or the "Corporation") (TSX:MEQ) announces that its board of directors has approved a temporary waiver of its blackout policy that applies to directors, officers, employees and other parties. Under the temporary waiver, directors, officers, employees and others will be permitted to purchase securities of Mainstreet, provided they are not in possession of material undisclosed information relating to Mainstreet. (The board has taken this step in light of conditions in the financial and stock markets, which have resulted in what Mainstreet believes is a significant and unwarranted drop in the trading price of its shares.)
The blackout policy restricts the ability of Mainstreet's directors, officers, employees and others to purchase or sell securities of Mainstreet during prescribed periods. The temporary waiver of the blackout is effective for a year unless earlier reinstated by the board. Mainstreet's directors, officers, employees and others remain unable to purchase or sell securities of Mainstreet if they are in possession of material undisclosed information relating to Mainstreet.
About Mainstreet
Established in 1997, Mainstreet is a Calgary-based, growth-oriented real estate corporation focused on the acquisition, redevelopment, repositioning, and asset and property management of mid-market apartment buildings. The Corporation currently owns and operates residential rental units, including apartments and townhouses, in Vancouver/Lower Mainland (Surrey), Calgary, Edmonton, Saskatoon and Greater Toronto Area.
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. When used herein, words such as "intended" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on assumptions by and information available to the Corporation. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Actual results may differ materially from those currently anticipated. The forward-looking statements contained herein are expressed qualified by this cautionary statement.