Cyber ​​incident at Mainstreet Equity Corp.

CALGARY, Alberta, May 24, 2024–(BUSINESS WIRE)–On May 21, 2024, Mainstreet Equity Corp. (TSX: MEQ) was the target of a cybersecurity incident affecting Mainstreet’s internal systems. At this time, Mainstreet has no reason to believe that its operating platform is in any way affected by this incident.

Mainstreet is currently working with leading third-party cybersecurity experts to investigate this incident and safely bring its internal systems back online.

Mainstreet is also currently investigating the extent to which data was compromised in the incident. Should the investigation determine that personal data was affected, Mainstreet will notify all affected individuals in accordance with data protection laws.

“The safety of Mainstreet tenants, employees and other stakeholders remains our highest priority,” said Bob Dhillon, President and CEO of Mainstreet. “The investigation into the cause and scope of this incident is ongoing and we will update you on the situation as it becomes available.”

About Mainstreet Equity Corp.

Mainstreet Equity Corp. (“Mainstreet”) is a Calgary-based real estate company traded on the Toronto Stock Exchange (TSX:MEQ). Mainstreet is a leading provider of high-quality, affordable multifamily rental units in Western Canada, covering BC, AB, SK and Winnipeg, and owns over 17,800 units year-to-date. The Company’s long-term value is anchored by a countercyclical strategy of aggressively acquiring undervalued units at distressed prices using low-cost capital. Post-acquisition, Mainstreet quickly stabilizes assets to minimize cycle times and increase net operating income. The Company pursues a 100% organic, non-dilutive growth model while leveraging its robust liquidity position. In Q2 2024, Mainstreet’s assets were valued at approximately C$3.2 billion based on IFRS value.

View original version on businesswire.com: https://www.businesswire.com/news/home/20240524876360/en/

contacts

Bob Dhillon, Founder, President and CEO
Phone: +1 (403) 215-6063
Executive Assistant: +1 (403) 215-6070
100, 305 10 Avenue SE, Calgary, AB T2G 0W2 Canada
TSX: MEQ
https://www.mainst.biz/
https://www.sedarplus.ca