CALGARY, March 19, 2021 /CNW/ - Mainstreet Equity Corp.
("Mainstreet" or the "Corporation") (TSX: MEQ) announces that Mr.
Johnny Lam, the Corporation's Chief
Operating Officer, has advised Mainstreet of his decision to retire
from the Company upon reaching the age of 65, being April 20, 2021.
Mr. Lam's retirement has been well planned. In anticipation of
his retirement, Mainstreet has increased and strengthened its
senior management team and Mr. Lam has, over the last few years,
been working to transition his responsibilities and duties to other
members of the senior management team, including the Chief
Financial Officer and Vice President, Operations.
Accordingly, Mainstreet expects a very smooth transition period and
does not anticipate any need to replace Mr. Lam at this time.
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, Airdrie, Calgary, Edmonton, Lethbridge, Saskatoon and Regina.
Mainstreet's common shares are listed on the Toronto Stock
Exchange under the symbol "MEQ". There are currently 9,345,218
common shares outstanding.
Forward-Looking Information
Certain statements
contained herein constitute "forward-looking statements" as such
term is used in applicable Canadian securities laws. These
statements relate to analysis and other information based on
forecasts of future results, estimates of amounts not yet
determinable and assumptions of management. In particular,
statements regarding the replacement of the COO and other factors
and events described in this document should be viewed as
forward-looking statements to the extent that they involve
estimates thereof. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions of future events or
performance (often, but not always, using such words or phrases as
"expects" or "does not expect", "is expected", "anticipates" or
"does not anticipate", "plans", "estimates" or "intends", or
stating that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved) are not
statements of historical fact and should be viewed as
forward-looking statements.
Such forward-looking statements are not guarantees of future
events or performance and by their nature involve known and unknown
risks, uncertainties and other factors, including those risks
described in this Annual Information Form under the heading "Risk
Factors", that may cause the actual results, performance or
achievements of the Corporation to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Material factors or assumptions
that were applied in drawing a conclusion or making an estimate set
out in the forward-looking statements include, among others, the
ability of the Company to fulfill the duties of the COO with the
current management team. Although the Corporation has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, other factors may cause actions, events
or results to be different than anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate as actual results and future events could vary or differ
materially from those anticipated in such forward-looking
statements. Accordingly, readers should not place undue reliance on
forward-looking statements contained herein.
Forward-looking statements are based on Management's beliefs,
estimates and opinions on the date the statements are made, and the
Corporation undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinions should change
except as required by applicable securities laws or as otherwise
described therein.
SOURCE Mainstreet Equity Corporation