CALGARY, Feb. 16, 2016 /CNW/ - Mainstreet Equity Corp. ("Mainstreet" or the "Corporation"), today announced that an annual and special general meeting of holders of common shares of the Corporation is proposed to be held on Friday, March 18, 2016.  It is anticipated that a notice of meeting together with a management information circular and an instrument of proxy will be mailed to shareholders of the Corporation in the near future.

In addition to the usual matters to be considered at an annual general meeting of shareholders, the Corporation proposes to: (i) consider, and if deemed appropriate, to approve and adopt, without or without modification, an ordinary  resolution to renew the Stock Option Plan of the Corporation and all unallocated option entitlements under the Corporation's Stock Option Plan; and (ii) consider, and if deemed appropriate, to approve and adopt, with or without modification, an ordinary resolution to renew and approve the Corporation's Shareholder Rights Plan.

In regard to item (ii), the Corporation has entered into an Amending Agreement, dated February 12, 2016 between the Corporation and Computershare Trust Company of Canada to amend the Shareholder Rights Plan Agreement, dated February 25, 2013, to extend the permitted time for a takeover bid to be taken up under the Shareholders Rights Plan from sixty (60) days to one hundred and twenty (120) days ("Permitted Bid"), in keeping with new takeover bid proposals being put forward by Canadian Securities Administrators.  The aforesaid amendment to the definition of a Permitted Bid under the Shareholders Rights Plan, becomes effective February 12, 2016 and will be submitted to the shareholders of the Corporation for approval and ratification at the meeting.

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 concerning the holding of a shareholders meeting and the approval and ratification of matters to be considered at the shareholders meeting 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.  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.

Certain information set out herein may be considered as "financial outlook" within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding the Corporations reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes.

SOURCE Mainstreet Equity Corporation