Mainstreet Equity Corp. announces results of substantial issuer bid

    CALGARY, Jan. 20 /CNW/ - Mainstreet Equity Corp. (the "Corporation")
(TSX:MEQ) announced today the final results of its substantial issuer bid to
purchase for cancellation up to 4 million of its common shares ("Shares") at a
purchase price of $6.25 per Share, which expired at 5:00 p.m. (Eastern
Standard time) on January 20, 2009 (the "Offer").
    Based on final reports from Computershare Investor Services Inc., the
depositary for the Offer, 3,304,194 Shares were tendered pursuant to the
Offer. Accordingly, the Corporation will take up and accept for purchase and
cancellation at a price of $6.25 per Share, a total of 3,304,194 Shares for a
total cost of $20,651,212 (excluding fees and expenses relating to the Offer)
in accordance with the terms of the Offer. Payment to the depositary for
Shares validly deposited and taken up by the Corporation will be made as soon
as practicable after the Shares are taken up.
    The Shares represent approximately 23.8% of the Shares outstanding as of
January 20, 2009. After giving effect to the purchase and cancellation of the
Shares, the Corporation will have approximately 10,569,279 Shares outstanding.
    The full details of the Offer are described in the Offer to Purchase and
Circular, the related Letter of Transmittal and all other Offer documents
filed by the Corporation on SEDAR at

For further information:

For further information: Bob Dhillon, Chief Executive Officer, (403)

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