CALGARY, Jan. 9, 2019 /CNW/ - Mainstreet Equity Corp.
("Mainstreet" or the "Corporation") (TSX:MEQ) is pleased to
announce the appointment of PricewaterhouseCoopers ("PWC") as its
auditor.
Mainstreet commenced a tender process in respect of its annual
audit work in July 2018. The tender
was closed in October 2018 and
Mainstreet received submissions from a number of audit firms during
this process. These submissions were reviewed by the Audit
Committee and, based upon a number of criteria, the Audit Committee
ultimately recommended to the board of directors of Mainstreet that
PWC be appointed as its auditors commencing in the 2019 fiscal
year.
Mainstreet's Board of Directors approved the appointment
of PWC and accepted the resignation of Deloitte LLP effective
January 9, 2019. Deloitte LLP
resigned as auditor at Mainstreet's request and there were no
reservations or modified opinions on any of the Company's financial
statements since Deloitte LLP was appointed auditor of the Company,
nor, in the opinion of the Company, were there any "reportable
events" as defined in National Instrument 51-102 during such
period.
About Mainstreet
Mainstreet Equity Corp. is a publicly traded (TSX: MEQ)
residential real estate company in Canada. Mainstreet positions itself as a value
creator by purchasing under-performing properties, renovating them
to a branded standard, improving operating efficiencies and
repositioning them in the market for greater returns. Mainstreet
currently owns and operates properties in Surrey, BC; New
Westminster, BC; Abbotsford, BC; Calgary, AB; Cochrane, AB; Edmonton, AB; Lethbridge, AB; Fort
Saskatchewan, AB; Regina,
SK; and Saskatoon, SK.
Mainstreet's common shares are listed on the Toronto Stock
Exchange under the symbol "MEQ".
SOURCE Mainstreet Equity Corporation
