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Mainstreet details preliminary repurchase offer results

Mainstreet EquityCorp. on April 13 detailed the preliminary results of its offer to repurchasea maximum of 1.2 million outstanding shares of its common stock.

Under the offer, which expired at 5:00 p.m. ET on April 12, anestimated 1,475,179 shares were properly deposited under the offer and not withdrawn.The company said it will repurchase the shares on a pro rata basis following determinationof the final results of the offer; however, "odd lot" deposits, from shareholdersbeneficially owning fewer than 100 shares, will not be subject to pro-ration. Depositingshareholders subject to pro-ration are expected to have an estimated 81.1% of theirdeposited shares purchased by Mainstreet under the offer.

An aggregate of 1.2 million of the company's outstanding sharesare expected to be purchased for cancellation at C$36.00 apiece, for a gross purchaseprice of C$43.2 million.

Previously, Mainstreet said the maximum number of shares targetedfor repurchase makes upabout 11.8% of its issued and outstanding shares. The company expects to have 8,932,915issued and outstanding shares after giving effect to the offer.

Final results of the offer are expected to be determined on orbefore April 22. GMP Securities LP serves as financial adviser and dealer managerfor the repurchase offer, with Computershare Trust Co. as the depositary.