Mainstreet Equity Corp held Annual and Special Shareholder Meeting on March 18, 2016

CALGARY, March 18, 2016 /CNW/ - Mainstreet Equity Corp. ("Mainstreet" or the "Corporation") (TSX:MEQ) is pleased to announce the results of the annual and special meeting of shareholders held on March 18, 2016. The meeting had a very strong shareholder turnout with holders of approximately 84.7% of the issued and outstanding common shares represented in person or by proxy.

Navjeet (Bob) N. Dhillon, Joseph B. Amantea, Richard Grimaldi, Karanveer V. Dhillon, John Irwin and Ron Anderson were re-elected to the board of directors of the Corporation for the upcoming year. Proxy voting results for each nominee is set out below:


Outcome of the Vote

Votes For

%

Withheld

%

Navjeet (Bob) N. Dhillon

Elected

8,172,240

95.7

386,206

4.3

Joseph B. Amantea

Elected

7,413,786

86.8

1,126,660

13.2

Richard Grimaldi

Elected

7,769,941

91.0

770,505

9.0

Karanveer V. Dhillon

Elected

8,165,920

95.6

374,526

4.4

John Irwin

Elected

8,106,135

94.9

434,311

5.1

Ron Anderson

Elected

8,105,755

94.9

434,691

5.1

Note:

The election of directors was conducted by a show of hands.  Accordingly, the number of votes disclosed reflects only those proxies received in advance of the meeting of shareholders.

In addition, Deloitte LLP was re-appointed as the Corporation's auditor and resolutions were passed on a majority of the minority basis approving the Corporation's stock option plan and all unallocated stock option entitlements under the stock option plan and approving an amendment to the Corporation's shareholder rights plan.  Details in respect of all of the resolutions approved at the annual and special meeting of shareholders may be found in the management information circular prepared in connection with the meeting dated February 12, 2016 which is available on SEDAR at www.sedar.com.

About Mainstreet

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 the B.C. Lower Mainland, Calgary, Edmonton and Saskatoon.

Mainstreet's common shares are listed on the Toronto Stock Exchange under the symbol "MEQ". There are currently 10,132,915 common shares outstanding.

SOURCE Mainstreet Equity Corporation

For further information: Bob Dhillon, President & CEO, (403) 215-6070

RELATED LINKS
http://www.mainst.biz/

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